Wednesday, May 27, 2020
Hawai'i Free Press

Current Articles | Archives

Tuesday, March 03, 2020
Hawaii is 8th-Richest State--But you'll never see any of it
By News Release @ 2:29 AM :: 1983 Views :: Economy, Hawaii Statistics, Cost of Living

How rich is each US state?

From US Chamber of Commerce, February, 2020 (excerpts)

Despite the fact that they are all part of the same country, US states vary considerably in terms of wealth. For example, California’s 2018 GDP of $2.94 billion (gross domestic product) was over 25 times higher than Mississippi’s in the same year. Though Mississippi’s population is 13 times smaller than California’s, the fact remains: states are not created equal when it comes to gross assets. 

In order to elucidate the wealth disparity between states, we’ve ranked the richness of all 50 using 6 variables, including real per capita personal income, per capita consumption expenditures, poverty rates, state and local general revenue, per capita spending, and the amount a resident of the state needs to be considered part of its top 5 percent. 

The results are telling, with regional clusters appearing at the top, middle, and bottom of the ranking. However, there are a few surprises, and you might be interested to find out where your state falls on the list. …

Does a state’s poverty rate correlate with its total wealth?

The short answer is yes, the poverty rate of most states–which is defined as the ratio of the population whose per capita income falls below the US poverty threshold of $12,140 (or $25,100 for a household of 4)is aligned with its overall wealth ranking. Of the 10 states with the highest poverty rates, 8 are among the top 10 poorest states, while the remaining 2 are among the top 15 poorest.  The correlation is less strong for the 10 states with the lowest poverty rates, but nevertheless present: 4 of them are among the 10 richest states, while an additional 2 belong to the top 15 richest states.

However, there are some interesting exceptions. Utah, whose 3-year average poverty rate of 7.9% is the 3rd lowest in the country, is only the 31st richest state. The Beehive State’s real per capita income and state spending numbers are both averages, indicating that while Utah doesn’t have a high concentration of wealthy, high-spending people, it doesn’t have a large population of people in the lowest income brackets, either.

Additionally, 2 of the richest states, New York and Alaska, have higher poverty rates than one would expect, indicating an above-average wealth inequality gap between the states’ richest and poorest citizens. 

Alaska, the 4th richest state overall with a high real per capita income and the by far the highest per capita spending of any state, has the 19th highest poverty rate, which, at 12.2%, is above the national average. New York, the 3rd richest state, is also marked by a poverty rate that’s high in relation to other variables: its rate of 11.8% is around the national average.  

The 10 Richest States in the US

8. Hawaii

As a remote island archipelago in the Pacific ocean, Hawaii is literally separate from the pack. The state’s wealth-related statistics are unique: Hawaii’s real per capita income of $42,507 is by far the lowest of any state in the top 10, (Hawaii per capita income is 5th-lowest in USA) however, poverty is also low, and per capita, state spending and state revenue are both high. 

Hawaii gets a boost from its lucrative tourism industry: the state welcomed a record 9.95 million visitors in 2018. Altogether, visitors to the state spent a collective $17.82 billion, which is a 6.8% increase over the previous year….

read … Full Report   

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

808 State Update AM940

ABCDEFG Blog

ACA Signups Hawaii

ACCE

ALEC

Alliance Defending Freedom

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii

AMVETS-Hawaii

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust 

Build More Hawaiian Homes Working Group

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

ChinaTownWatch.com

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

CSIS Pacific Forum

DAR Hawaii

DeedySupport.com

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii

FIRE

Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Habele.org

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Families for Educational Choice

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling

HIEC.Coop 

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube

HPACC

Hump Day Report

I Vote Hawaii

If Hawaii News

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes

KeyWiki

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii

NARTH

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Cope

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT