Home » Economy » People making $100K in these Democrat-run cities are taking a big pocket punch: Report
People making $100K in these Democrat-run cities are taking a big pocket punch: Report
Report shows $100K salary in big cities gives shocking low take-home pay
Laffer Tengler Investments CEO Nancy Tengler and maslansky+partners’ Lee Carter attribute residents fleeing big cities to ‘really bad policy.’
Bad news for some high-earning workers in some of America’s biggest cities – your six-figure salary may not stretch as fiscally far as you think, according to a new report.
A recent analysis from SmartAsset has revealed what a $100,000 salary is actually worth in the largest U.S. cities. While a six-figure salary mark has culturally been seen as a sign of financial comfort and success, data showed that take-home pay totaled less than $40,000 in New York City, Honolulu and San Francisco, respectively.
Other Democrat-led cities clinched the top places where your paycheck doesn't go as far, including Washington, D.C., Long Beach and Los Angeles – which tied for fifth at a take-home pay of $44,263 – San Diego, Oakland, and Boston, all raking in less than $49,000 for high earners.
SmartAsset calculated the data by comparing the after-tax income, average cost of living per densely-populated city and impact of inflation.
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Laffer Tengler Investments CEO and CIO Nancy Tengler recently moved from California to Arizona, and argued residents who make $100,000 or above flee these blue cities for one reason: it’s "all about the taxes."