by Warner Todd Huston | August 21, 2015 11:50 am
Here is another example of how bad liberalism is for us all. A new chart reveals that in nearly every blue state a $100 bill is worth less than face value because money just doesn’t go as far as it does in the red states where that $100 is generally worth more than face value.
The Tax Foundation did a review of what the dollar is worth across the country and came up with a state-by-state chart to show how far money can go relative to other states.
It turns out that in nearly every state that is heavily Democrat our money doesn’t go as far as it does in red states…
The value of $100 is worth the most in Mississippi ($115.21), Arkansas ($114.29), South Dakota ($114.16), Alabama ($114.03) and West Virginia ($113.12). Areas including the District of Columbia ($84.96), Hawaii ($86.06), New York ($86.73), New Jersey ($87.34) and California ($89.05) have the lowest value.
Alan Cole and Scott Drenkard, who organized the study, said typically states with the higher nominal incomes maintain higher price levels as a result.
“This is because there is a relationship between the two: In places with higher incomes, the prices of finite resources like land get bid up,” Cole and Drenkard wrote in the report. “But the causation also runs in the opposite direction. Places with high costs of living pay higher salaries for the same jobs. This is what labor economists call a compensating differential; the higher pay is offered in order to make up for the low purchasing power.”
So how much is your money worth in YOUR state?
Source URL: https://rightwingnews.com/democrats/chart-shows-that-100-is-worth-less-than-100-in-blue-states-more-than-100-in-red-states/
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