The Core

Why We Are Here => Economics & Investing => Topic started by: rcjordan on August 19, 2014, 10:23:40 PM

Title: The Real Value of $100 in Each State
Post by: rcjordan on August 19, 2014, 10:23:40 PM
http://taxfoundation.org/blog/real-value-100-each-state

DK would be $7
Title: Re: The Real Value of $100 in Each State
Post by: littleman on August 20, 2014, 04:20:20 AM
Great map!  I wish I could find one with it broken down by county.
Title: Re: The Real Value of $100 in Each State
Post by: rcjordan on August 20, 2014, 10:51:01 AM
Notice how the 100+ ones are rural/semi-rural 'red' states?
Title: Re: The Real Value of $100 in Each State
Post by: Mackin USA on August 20, 2014, 12:56:24 PM
AK & HI have transportation issues.

In the continental U.S. the TAX & SPEND states do stand out. :'(
Title: Re: The Real Value of $100 in Each State
Post by: Rumbas on August 20, 2014, 01:53:09 PM
>DK $7

Haha, pretty much.

>100+
how can that be? a $100 can't be worth more in value than $100?
Title: Re: The Real Value of $100 in Each State
Post by: JasonD on August 20, 2014, 02:59:25 PM
So Mississippi is the lowest cost / greatest value, state?
Title: Re: The Real Value of $100 in Each State
Post by: littleman on August 20, 2014, 03:10:57 PM
>how can that be? a $100 can't be worth more in value than $100?

Its the relative cost of goods and services in the different states.  For instance, a burger and fries may cost you $12 in California and only $10.50 in Tennessee.
Title: Re: The Real Value of $100 in Each State
Post by: rcjordan on August 20, 2014, 05:06:59 PM
>mississippi

Ugh! Yeah, technically, but I think they'd have to pay me to live there.
Title: Re: The Real Value of $100 in Each State
Post by: Mackin USA on August 20, 2014, 05:54:29 PM
ME 2, RC
Title: Re: The Real Value of $100 in Each State
Post by: JasonD on August 20, 2014, 06:29:23 PM
> Mississippi

is the whole state that bad then?
Title: Re: The Real Value of $100 in Each State
Post by: littleman on August 20, 2014, 06:41:03 PM
The map roughly correlates with pay/poverty rates.
Title: Re: The Real Value of $100 in Each State
Post by: JasonD on August 20, 2014, 06:43:47 PM
> pay/poverty rates

So likely just standard market forces at work.
Title: Re: The Real Value of $100 in Each State
Post by: JasonD on August 27, 2014, 10:27:33 AM
http://www.washingtonpost.com/blogs/govbeat/wp/2014/08/26/if-the-uk-was-a-u-s-state-it-would-be-the-second-poorest-behind-alabama-and-before-mississippi/?hpid=z5

"If Britain were a U.S. state, it would be the second-poorest, behind Alabama and before Mississippi"
Title: Re: The Real Value of $100 in Each State
Post by: littleman on August 27, 2014, 03:22:41 PM
That is surprising Jason.  I've only been to Britain twice, and haven't seen a lot of the country, but I didn't see the signs of extreme poverty that I see here.  Of course the overall wealth of a place and how it takes care of people at the bottom are two different things.
Title: Re: The Real Value of $100 in Each State
Post by: Brad on August 27, 2014, 06:24:57 PM
I read that article but it is hard to compare US States to the UK.

1. UK has an Army, Navy and Air Force and know how to use them.

2. UK takes much better care of their infrastructure, because they don't have room to just rebuild somewhere else when it falls down.

3. Public health care benefits, that really goes right to the bottom line on personal income.

4. Whiskey, they produce more lovely whiskey than any one state
Title: Re: The Real Value of $100 in Each State
Post by: BoL on August 27, 2014, 06:50:40 PM
The exchange rates make those comparisons hard too, USD has traded between $1.35 and $2.10 against GBP over the past 10 years.

Saying that, the median wage is likely overall higher in many US states, though afaik the minimum wage varies wildly and maybe some have none at all. I guess that's a plus depending which side of politics you're on and what kind of employment you've come to expect.

"One in 30 Londoners is a millionaire - but one in four live in poverty"
http://www.londonlovesbusiness.com/one-in-30-londoners-is-a-millionaire-but-one-in-four-live-in-poverty/8553.article
Title: Re: The Real Value of $100 in Each State
Post by: JasonD on August 28, 2014, 10:58:43 AM
> I didn't see the signs of extreme poverty that I see here

there is poverty here but I haven't seen any at the levels I have seen (or been shown) in some of the US. Overall, I'd rather be poor in the UK than in the US.

> 1. UK has an Army, Navy and Air Force and know how to use them.
> 2. UK takes much better care of their infrastructure, because they don't have room to just rebuild somewhere else when it falls down.
> 3. Public health care benefits, that really goes right to the bottom line on personal income.
> 4. Whiskey, they produce more lovely whiskey than any one state

All very valid points but on a personal level I have concerns about the 4th point. Scotland is voting within the month for independence from the UK. I hope it doesn't happen but the polls are moving closer towards a "yes" vote, albeit the "no' vote still has the majority.

>"One in 30 Londoners is a millionaire - but one in four live in poverty"

I'd bet that very few native Londoners are within that 1/30 statistic. Many are Arabs spending their time and (some of) their money here alongside a sprinkling of Russian and Eastern European cash (although with current politics, those numbers are reducing as they get kicked back East)

Title: Re: The Real Value of $100 in Each State
Post by: rcjordan on August 30, 2014, 12:49:20 PM
>> I didn't see the signs of extreme poverty that I see here

I think some of that is the urbanization of the population in UK. We have spread them out more. 

As for poor in the US, drive through New Mexico back-country some time ....looks like one massive trailer park.