9 States Where Income Inequality Really Stings

What's Hot


Shoppers Boycott Businesses Selling Trump-Branded ProductsBusiness

5 Reasons to Shop for a Home in DecemberFamily

Giving Thanks: Why Foreigners Find America AmazingAround The House

Why Washing Your Turkey Can Make You IllFamily

50 Best Gifts Under $25 for Everyone on Your ListFamily

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

What the Richest 1 Percent Earns in Every StateFamily

10 Ways to Retire Earlier Than Friends on the Same SalaryGrow

The 10 Best Ways to Blow Your MoneyCredit & Debt

7 Foods That Can Lengthen Your LifeFamily

The 50 Hottest Toys of the Past 50 YearsFamily

7 Government Freebies You Can Get TodayFamily

In one state, the richest 1 percent earns 45.4 times what the other 99 percent earns.

Income inequality is a national concern. The income gap between the top-earning 1 percent and the rest of Americans has increased in every state since the 1970s, a new report shows.

But income inequality also affects some parts of the nation a lot more than others, according to a state- and local-level analysis released by the Economic Policy Institute today.

In nine states, for example, the gap between the top 1 percent and the other 99 percent was wider than the national average, according to the report.

The nine states that had the widest gaps as of 2013 were:

  1. New York
  2. Connecticut
  3. Wyoming
  4. Nevada
  5. Florida
  6. Massachusetts
  7. California
  8. Texas
  9. New Jersey

New York has the widest gap, with the top 1 percent earning 45.4 times the average annual income of those in the 99 percent. In other words, the average income of the top 1 percent was $2,006,632, while the average earned by the 99 percent was $44,163.

The report attributes New York’s income inequality partly to “the relative concentration of the financial sector in the greater New York City metropolitan area.”

Co-author Estelle Sommeiller, a socio-economist at the Institute for Research in Economic and Social Sciences in France, primarily attributes income gaps to broader causes:

“The degree of income inequality differs from one city to another, but the underlying forces are clear. Inequality isn’t a regional issue. It’s the result of intentional policy decisions to shift bargaining power away from working people and towards the top 1 percent.”

What’s your take on income inequality? Share your thoughts with us below or on Facebook.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 7 Ways to Make Extra Money This Summer

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,881 more deals!