Bad Timing: Washington D.C.’s Average Income Is Now The Highest In America

[Donnachaidh]

http://www.mediaite.com/online/bad-timing-washington-d-c-s-average-income-is-now-the-highest-in-america/

Normally, hearing that your city offers the highest average income in the country is something to celebrate, but today’s news that the Washington metropolitan area (which includes the District of Columbia and parts of Virginia, Maryland, and West Virginia), has surpassed San Jose’s metropolitan area (better known as Silicon Valley), for the highest average income is likely to be met with jeers and groans.

With an informed base of Tea Partiers angry with the Washington elites, and thousands of protesters on the streets of every major city in America placing blame on Wall Street and the Washington cronies who protect Wall Street’s interests, this news couldn’t have come at a less opportune time.

According to Frank Bass and Timothy R. Homan of Bloomberg News:

Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.

More at the link --

[autorank]

1. Let them move here, pay the prices, and endure the cost of living

It's all relative (unless you're getting married;) and the relative cost of living here is the highest
or right up there.

k*r

I'm back. This is from a cost of living calculator comparing Anderson SC and Washington DC metro area (DC, MD burbs, VA burbs).

http://www.bankrate.com/calculators/mortgages/moving-cost-of-living-calculator.aspx?ec_id=m1025853

Here is part of why it costs 50% more to live in DC than most places in the country.



Hey, I thought we were picking on Wall Street;)

[alittlelark]

3. Do the same comparison to Los Altos or Los Altos Hills.

I'm going to bed.


Just think about which zip code actually exports goods and services.

[dkf]

7. Honolulu is worse

Product Washington-Arlington-Alexandria DC-VA-MD-WV Metro Div. Honolulu HI Metro Difference
Home Price $668,633.00 $695,539.00 $26,906.00
Payment + Interest $2,681.92 $2,750.92 $69.00
Apt. Rent $1,783.13 $2,479.93 $696.80
Total Energy $185.15 $307.53 $122.38

Read more: Cost of Living comparison calculator http://www.bankrate.com/calculators/mortgages/moving-cost-of-living-calculator.aspx#ixzz1bIhgBJH0

Hmm not as bad as NY or San Francisco though.

[alittlelark]

2. I'm here in the heart of Silicon Valley

This area is F'ing RICH... The kids go to Costa Rica to save sea turtles over spring break - in 7th grade!!

This area is crazy rich - my neighbors are constantly remodeling or re-doing their landscape...

We're the 'po folk' of the 1%.

The avg house here is in the 1.5 m range




It's pretty F'ed up when DC which PRODUCES nothing is wealthier than SILICON VALLEY which is selling technology all over the world!!!

[Major Nikon]

4. Au contraire

The DC metropolitain area is the 2nd largest tech center in the US, right behind Silicon Valley. It also has the largest science and engineering work force in the nation.

http://en.wikipedia.org/wiki/Washington_Metropolitan_Area#Economy

[Major Nikon]

5. The teabaggers' bullshit is easily debunked

There are 8.5 million people in the DC metro area, of which 140,000 are federal government employees. That's only 1.6% of the population. Do these morans actually think that 1.6% of the population can significantly affect the average income of the population as a whole?

There's also quite a few very large corporations that are headquartered in DC, plus thriving tech and tourism industries.

[MyUncle]

8. Directly employed by the govt. + employed to

influence the govt. + under contract by the govt. + working for the companies who support all this.

Whenever I go to D.C. I think "This is where all the money goes"

I wish more of it would make it's way back home.

FYI, "Home" to me has been NYC, San Diego and Honolulu.

[Major Nikon]

10. Those indirectly employed by the gov are the people the teabaggers support

The teabaggers want to farm most government functions out to the private sector. I guess if you live on the far left side of the bell curve, that makes sense.

[Canuckistanian]

6. Lobbyists

Aren't there 20 lobbyists to every Congressman or something like that? And each one earns probably 2X what a Congressman makes.

Not surprised.

[crazylikafox]

9. Yup. Lobbists & Contractors.