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.
Last year, the typical household in the Washington metro area earned $84,523. In San Jose, that number was $83,944. The national median income for 2010 was $50,046. Pushing the Washington numbers up? Lots of lawyers and lobbyists. Bloomberg computed that Washington has one lawyer for every 12 city residents. By comparison, New York State boasts one out of every 123 residents, while California’s is one in 243. And the 12,964 registered lobbyists in the Washington area combined to set a record for money spent on lobbying efforts, reaching $3.51 billion last year, up from $3.49 billion in 2009.
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