Best and Worst States for Income. Is highest the best?

Best and Worst States for Income in 2008

Connecticut is the Best State for Per Capita Income in 2008 with an average of $63,160.  It is followed by Massachusetts, New Jersey, New York and Wyoming.

The Worst State for Income is Mississippi with an average income of $31,836.  The next Worst States are West Virginia, Arkansas, Kentucky and South Carolina.

Higher income does not necessarily correlate to better lifestyle.  Connecticut, for example, is the Worst State for Taxes with the highest tax burden in the country.  Generally the highest income states have the highest tax burdens and higher cost of living index. See: Cost of Living by State

You could spend a lot more for the same house and have a lot less disposable income to enjoy life

State Income Per Capita Rank
Conn. $63,160 1
Mass. $56,661 2
N.J. $56,116 3
N.Y. $55,032 4
Wyo. $53,163 5
Md. $52,709 6
Nev. $49,371 7
Wash. $48,574 8
Colo. $48,300 9
N.H. $48,033 10
Calif. $47,706 11
Va. $47,666 12
Ill. $46,693 13
Hawaii $46,512 14
Fla. $46,293 15
Minn. $46,106 16
Del. $44,889 17
Alaska $44,872 18
R.I. $44,463 19
Pa. $43,796 20
Tex. $42,796 21
Vt. $42,626 22
Wis. $40,953 23
Kans. $40,784 24
Nebr. $40,499 25
N.D. $39,612 26
Ore. $39,444 27
Mich. $39,273 28
La. $39,116 29
S.D. $39,103 30
Ohio $38,925 31
Iowa $38,636 32
Okla. $38,415 33
Maine $38,309 34
Ariz. $38,174 35
Tenn. $38,090 36
Mo. $38,084 37
Ga. $37,850 38
N.C. $37,508 39
Ind. $37,279 40
Mont. $36,793 41
Idaho $36,492 42
Ala. $36,372 43
N.M. $36,031 44
Utah $35,971 45
S.C. $35,419 46
Ky. $34,339 47
Ark. $33,395 48
W.Va. $32,145 49
Miss. $31,836 50
U.S. $44,254
D.C. $70,730
Note: See table 38 for average people per household by state.
Source: Tax Foundation Special Report, No. 163, “State-Local Tax Burdens Dip as Income Growth Outpaces Tax Growth.” The income measure used adds the following to Bureau of Economic Analysis’s personal income measure: capital gains realizations, pension and life insurance distributions, corporate income taxes paid, and taxes on production and imports less subsidies. It subtracts from personal income the fungible portion of Medicare and Medicaid, estimated Medicare benefits that are provided via supplementary contributions, initial contributions to pension income and life insurance from employers, and the annual investment income of life insurance carriers and pensions that is included in personal income.

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