The top 1% of income earners in the U.S. is rich, really rich.
They make several times more money than average people. And if you take the entire bottom 99% as a whole, would you be surprised that they make upward of 40 times as much in some states?
The Economic Policy Institute dug into state-level tax return data from the IRS to determine how much money the top 1% of filers earn. Then they figured out how much the rest of us make. And finally, they calculated the ratio between the two numbers, creating an apples-to-apples comparison of inequality across the U.S.
Looking at this ratio reveals the obvious candidates for inequality. Take California as an example, where top filers make $1,693,094 per year. Compare that to what the 99-percenters make, $55,152. That’s 30.7 times as much income. The Northeast is likewise home to gross inequality, thanks in large part to outsize compensation packages on Wall Street.
But there are also a couple surprises here. Wyoming (31.2) and Florida (39.5) are both toward the top of the pack. Rich retirees relocate to Jackson Hole, WY and the warmer climates of the Gulf Coast. Washington notably “only” has a ratio 24.2 despite serving as the headquarters for high-flying tech talent at companies like Amazon and Microsoft.