CA’s “median household income” adjusted for COL is worse than all but 10 states. Actually, all but TWO states!
Whenever folks complain about California’s oppressive taxes, fees, cost of living, over-regulation, lousy roads, high utility costs and legal climate, progressives usually come back with this: “But California has the world’s fifth largest economy”— delivered with a smug “gotcha” look.
And it IS true — CA DOES have the fifth largest economy in the world. But that figure by itself tells us little about the prosperity of the PEOPLE in our Golden State. For instance, Red China has a much bigger economy (GDP) than California. Does anyone think that on average the Chinese are more prosperous than Californians? Well, anyone who’s not a Bernie Sanders acolyte?
Let’s look at the vaunted California prosperity compared to the otherstates— the only comparison that matters. Our CA median household income (half make more, half make less) is the 8thbest in the nation. Seven states have a higher median household income. So CA ranks high, but not the best.
See chart #1 below.
But then we have to consider that… Read More
