Skip to comments.Here's the value of $1 in each state, according to new data
Posted on 05/27/2019 11:18:10 AM PDT by Boomer
In the U.S., apparently not every dollar is equal.
The value of $1 varies depending on where you go. According to new data compiled by 24/7 Wall Street from the Bureau of Economic Analysis (BEA), a dollar goes the furthest in America's "poorest states," such as Mississippi and Alabama.
Overall, purchasing power is nearly 35 percent greater in The Magnolia State compared to New York, Forbes reported last year, citing 2016 findings from the BEA. In New York, $100 is worth only about $86.51, while $100 in Mississippi is valued at $115.74, the publication stated.
To see which state gives you the most bang for your buck (literally), here’s a look at what $1 is worth in all 50 states from 24/7 Wall Street.
West Virginia: $1.14
South Dakota: $1.13
South Carolina: $1.11
North Caroline: $1.10
North Dakota: $1.09
New Mexico: $1.07
Rhode Island: $1.00
New Hampshire: $0.94
New Jersey: $0.88
New York: $0.87
I’m surprised Florida isn’t near the top. Cost of living here is low.
The worst states are high tax states.
Except for Alaska where high transportation cost eats up the value of your dollar.
Not coincidentally high tax states are Blue states.
Little wonder, Hillary won the “$hithole states”.
At least it isn’t less than a dollar.
North Caroline, ba-ba-ba...
Good times never seemed so good....
Shhh, quiet...keep the liberals away from the South!
Notice the top five are Old South.
There’s a lesson there.
North Caroline, ba-ba-ba...
Yep they changed the name......
The price of a Big Mac medium meal is also a good index.
Fortunately I live near the state line. Can run over to Idaho once a month and pay up to 13-cents less per gallon of gas.
So any federal law involving an amount of money is invalid, because the value is different in each state, and within each state, it’s different in different localities.
In other words, the tax “brackets” are invalid. The $600 threshold for reporting amounts paid is invalid. The minimum hourly rate is invalid. Everything else is too.
South: Liberated and Cheap
Draw your own conclusions ...
Well if we would start adjusting taxes and other things based on the cost of living, based on the buying power of a dollar in every different place in America, we would have to throw everything out and start over wouldn’t we?
Recently moved to South Carolina, Indian Land. we had a home in Massachusetts on Cape Cod which was the VR retirement home I told my wife took ill and she wanted to be closer to family who live just over the state line in North Carolina.
We bought a brand new home in a community in Lancaster which is in Indian Land. We paid for the new home about $322,000 it is a beautiful community with trees and ponds and a lake, security, beautifully maintained.
Our real estate taxes are a touch over $100 a month. Cost of food down here is amazing after living in Massachusetts, especially on Cape Cod. First time I went in the grocery store to buy milk I stood in front of the milk cooler looking at the price of a gallon of whole milk for $1.33 and we sure that the milk was mismarked. I went and got someone who worked in the store and ask them about that we should know that’s all regular price. I have been paying $4.09 put milk on Cape Cod. Bananas $0.29 in pounds vs 69 cents a pound breakfast cereal $2.99 vs $4.49. not all the prices are has extreme on the low side is the ones I cited but they are all very low.
The wife and I have Medicare advantage through Humana. After pain $75 a month each for Medicare advantage in Massachusetts are premium in South Carolina is zero in other words they accept heartbeat payment that I normally would make the social Security and charge me nothing extra where in Massachusetts we each were paying $75 four months. Plus my co-pay for the doctor is 0.
All around very affordable with excellent value.
Looking at most of the low-value states (Cali, NY, NJ etc), it’s interesting that people pay to live in states with (presumably) the highest crime and the lowest individual fulfillment.
Your post reminds me of an experience I had a few years ago in the state of Delaware.
I went to do a McDonald’s in Delaware, ordered a filet o fish meal, and was astounded that the price was roughly half of what that cost me in California. I asked the cashier to double-check if he had charged me the right amount, because I wanted the meal deal, not just a fish sandwich. He assured me that the price I was being charged was for the meal deal.
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