A dollar is only worth a literal $1 in four states: Rhode Island, Florida, Oregon, and Delaware. Everywhere else, a dollar is either worth more or less depending on circumstances.
This is why, though New York and California boast way more billionaires than their 48 counterparts, both left-wing states conversely boast some of the lowest dollar values in America.
Not good!
According to a recent study by 24/7 Wall Street, a Delaware-based company that produces financial news content for the mainstream media, America’s “poorest states” — based on income, that is — boast the highest purchasing power, while the richest boast the lowest.
“A dollar goes the furthest in America’s poorest states,” 24/7 Wall Street reported last week, citing data from the Bureau of Economic Analysis. “Goods and services are less expensive to accommodate the relatively low-income residents. ”
“These areas are primarily located in the South. Conversely, the most expensive states – where the dollar has the least purchasing power – are home to some of the nation’s largest and most affluent cities.”
As a result, in “rich” left-wing states such as Hawaii, New York, California and New Jersey, a single dollar bill is only worth $0.84, $0.87, $0.87 and $0.88, respectively.
Conversely, in “poor” Republican-dominated states such as Mississippi, Alabama, Arkansas and West Virginia — states that are often mocked by the left for being full of “toothless rubes” — a dollar is worth $1.16, $1.15, $1.15 and $1.14, respectively.
Quite the difference, aye?
Gas prices in Alabama are $2 a gallon less then CA , and their roads are no worse then ours. This is outrageous! @GavinNewsom please lower our gas tax. #gasistoodamnhigh @cagop @millanpatterson @carldemaio pic.twitter.com/G3JdOxFZ0M
— Howard Hakes (@hhakes) May 4, 2019
Of course, some might try to rebut these findings by saying, “But the people in Mississippi, Alabama, Arkansas and West Virginia make way less money than those in New York and California!”
Not necessarily …
Take Alabama. Its’ personal income per capita is $42,334. Adjusted for the cost of living, personal income rises to $43,684. Over in California, personal income per capita is $62,586. Nice, right? Not exactly. When adjusted for cost of living, income drops to just $48,384. Personal income per capita in New York meanwhile hovers around $68,667. When adjusted for income, it plummets to $50,709.
These numbers aren’t that much better than those of states like Alabama. Also, keep in mind that the cost of living skyrockets the closer locals in California and New York get to the major metropolitans.
According to U.S. Census Bureau data, the median individual income in New York City is $50,825. Yet the median rent for just a tiny one bedroom apartment is a whopping $3,070 per month. That’s $36,840 per year, or 72% of the average resident’s income. Ouch!
For that much money, one could rent a $735/month one-bedroom apartment in Alabama’s capital, Montgomery, for over four years! How’s that for “poor?”
Data like this goes to highlight the disingenuousness of claims that Mississippi, Alabama, Arkansas and West Virginia are poor, downtrodden “shitholes” worthy of no man.
Such claims have been ascendant as of late because of these GOP-led states endeavors’ to curb or outright eliminate one of the left’s sacred cows: abortion.
Earlier this month, for instance, Alabama signed into law a bill that banned abortions at every stage of pregnancy, except for cases in which the mother’s life may be at risk.
In response, here’s how the left reacted:
This is what got my account suspended on Facebook:
“That fucking poor ass redneck bullshit white trash inbred welfare state can just fall off the goddamn map” This statement was referencing Alabama.— Madam Elle (@MadamElle7) May 25, 2019
Yea because republicans policies have made their states so great. Oh wait, they are 13 of the 15 poorest in the country. While Alabama, Louisiana, etc. are worried about abortion, their people suffer with the highest poverty rates. Blindness is not just ignorance, it’s stupidity.
— Twitree (@Twitree3) May 26, 2019
Alabama is a welfare rat hole!!! One of the poorest states in the country!!!
— Nick (@NickR22730090) May 26, 2019
Alabama, Mississippi and other red states all run by republicans are the poorest too! College students should pay attention when scouting universities! pic.twitter.com/LODqqvz5vg
— Ida (@CollaesIda) May 26, 2019
Dead last in education and one of the poorest states in America, and this is the kind of shit Alabama chooses to focus on?
How do we move to revoke their statehood?
— Not a Carp Fan (@TopCityZ72) May 25, 2019
Alabama your abortion bill was utterly and phenomenally ignorant! But you have been run by Republicans for 40 years just like the other 8 least educated and poorest states! So it is expected! Who voted on this 25 old white guys? pic.twitter.com/N7I4Ms1DFp
— Golden Ruel (@RuelGolden) May 25, 2019
Hey @GOP @GOPChairwoman
What do the Top 3 POOREST States in America have in common?
Oklahoma
Kentucky
AlabamaThey all have Republican Senators . #Winning
— FIXED IT FOR YOU……. (@keiferla) May 25, 2019
It’s truly sad for the people of Mississippi and Alabama that their already poor Governments will waste more money litigating illegal abortion laws.
Money that could go to any number of programs to benefit the people who live in these two of the poorest three states in America.
— Jeff Nathan (@jefnathan) May 25, 2019
It really all boils down to what you consider “poor” and “rich.”
What would you rather be — an allegedly “poor” person who pays a median of $80,700 for your comfortable home in Montgomery, Alabama, or an allegedly “rich” person who pays over $650,000 for your equivalently sized home in New York City?
Below is more info on the differences between the cities’ cost of living:
Granted, over 40 percent of all U.S. billionaires live in California and York.
That’s nice and all, but unless YOU too are a billionaire, what difference does it make?
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Vivek@bizpacreview.com
V. Saxena is a staff writer for BizPac Review with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University.
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