Washington, D.C., home to the federal government that dishes out $100,000 paychecks as easily as the Redskins do fumbles, is the nation’s wealthiest “state,” according to a new survey that also found that Democratic blue states are wealthier than Republican red states.
The in-depth study from WalletHub looked at income, gross domestic product per capita, taxes paid and super-high incomes to determine that the District, which is seeking to be the nation’s 51st state, is tops in the nation on the wealth rating.
In the study, “2014’s Richest and Poorest States,” the report found that Washington was No. 1 in incomes of $200,000 and over, the product of dual $100,000-plus federal incomes, military contracts and the swelling legal-lobbying industry.
Not surprisingly, WalletHub found that the District also had the lowest percentage of households earning a measly $50,000-$99,000. The average federal salary is $78,000 and nearly 500,000 federal employees, some 22 percent of the workforce, take home $100,000 or more annually.
The study said that Washington was also No. 1 in GDP per capita and taxes paid. It was No. 6 in raw income. Maryland, home to many federal workers, took that prize.
WalletHub, a financial tools website for consumers and businesses, said, “The wealth gap in post-recession America can be summarized in one cliché: the rich are getting richer, and the poor are getting poorer.”
It also determined that Democratic states were much richer than Republican states by a wide margin. Of the top 10 wealthiest states, President Obama won all but Alaska in 2012.
1. Washington, D.C.
2. New Jersey
3. Connecticut
4. Maryland
5. Massachusetts
6. Alaska
7. Minnesota
8. Delaware
9. California
10. Virginia
Paul Bedard, the Washington Examiner’s “Washington Secrets” columnist, can be contacted at [email protected].
