Pie Chart of the Day: Wealth Distribution By State

No state had been in as much fiscal troubles as California during the past recession. It’s still in trouble and it’s looking for ways of closing its budget shortfall. But the thing to remember here is that California is quite rich. In fact, it’s the richest state in the nation, with 14% of the total wealth, or $8 Trillion. New York, another state lamenting its budget problems to the press, has the second biggest share of national wealth. It’s wealthier than the second most populous state, Texas. 

 Below is a pie chart showing the distribution of wealth by state. Wealthiest states are bluer than the rest of the US, and they’re usually bigger spenders and in a bigger hole than are the rest of the states. Since the tax system is pretty progressive in the country as a whole, these states probably pay a higher percentage of overall taxes collected. 

 You can take a look below and decide whether these states deserve a federal bailout or not: 

Wealthiest States 

Wealthiest 15 States:

California             14.03%
New York              7.37%
Texas                      7.02%
Florida                    5.74%
Illinois                    4.52%
New Jersey            4.13%
Pennsylvania        3.91%
Ohio                          3.30%
Virginia                   3.27%
Michigan                 3.00%
Massachusetts      2.88%
Georgia                    2.88%
Maryland                2.69%
North Carolina      2.63%
Washington           2.35%

Bottom 15 States:

New Mexico        0.50%
Nebraska              0.49%
Hawaii                   0.48%
West Virginia     0.40%
Idaho                     0.39%
Rhode Island      0.38%
Maine                    0.37%
D.C.                         0.31%
Delaware              0.31%
Alaska                   0.25%
Montana               0.24%
Vermont              0.20%
South Dakota     0.19%
North Dakota     0.17%
Wyoming             0.17%

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!