America’s Wealthiest County is in Wyoming
Wyoming’s Teton County, home to Jackson Hole, has the nation’s highest per-capita income from assets, according to a study by the Economic Innovation Group. Teton County is America's wealthiest County.
In a recent Fobs Magazine article, they point out the difference between the richest in Teton county and those who work there but can't even afford to live there. This is referred to as "the wealth gap."
But often these articles don't actually consider all that needs to be considered in a study like this. They also count college educations and not thinking that people do actually make more money with vocational educations.
Fed officials, economists, and central bankers have convened annually at Jackson Hole in August since the 1980s to discuss economic policy. The topic of this year’s gathering is “Macroeconomic Policy in an Uneven Economy,” as the Fed has focused more during the pandemic on the issues of economic inequality. (Forbs).
But what they see as a problem in some being "uber-rich" and some not being anywhere close to that is actually not a problem at all.
Recently I wrote an article where I compared New York City to Glenrock, Wyoming.
COST OF LIVING:
Want to buy a small apartment in NYC? According to the Corcoran Group, the real estate brokerage, the median price of a simple two-bedroom apartment in Manhattan is now $916,000. The median price of a one-bedroom apartment in Manhattan is $710,000
Here is a 5 Beds 3 Baths 4,434 Sq Ft house in Glenrock for $549,000.
In NYC people pay about 51% of their income in taxes.
In comparison, Glenrock has VERY LOW taxes and Wyoming doesn't have a state income tax.
In America, each person has the opportunity to take themselves as far as they can. Some are more talented at making money are some are not. But just because someone is not making millions does not mean that they are not doing well. For a rich person to become rich they must have people around them helping them get rich. This creates opportunities and jobs on down the scale.
Those nations that focus on everyone being economically "equal" have always become nations of everyone becoming equally poor.