#4 Virginia “The adjusted-average income for Virginia worked out to $41,120.49, helped by high average wages and a relatively low unemployment rate. This is also a good state for your checking accounts, savings accounts, or money market accounts, with four of the best banks identified by MoneyRates.com operating in Virginia.”I am not surprised - low taxes, small government, and right to work is the recipe that can work for all states.
Thursday, April 14, 2011
Virginia rated 4th Best State to Make a Living
Money-Rates.com has ranked Virginia the fourth best state and best state east of the Mississippi for making a living in their April report. In making their ranking, they cited Virginia’s high wages, low unemployment rate and strong financial institutions. Read the report:
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"Average income" is meaningless as a tool to determine how well one can manage in a particular state.
They should examine the MEDIAN income, then adjust that figure as it is reduced by state and local taxation (including all of the fees that Virginia likes to use so that the Republicans can say they didn't raise taxes.
Having lived in fourteen of our fifty states (so far) and being from Virginia originally, I can attest that Virginia is better than some but worse than others with regard to total tax bite, but what really drags Virginia down is the lack of opportunity for new and emerging business enterprises.
In spite of the marketing mumbo-jumbo from the economic development folks in government, It is very difficult to start and sustain a business, here in the Old Dominion. Too much of the existing market is controlled by oligarchs and multinational businesses, and the current Guber, is no friend of small business; in fact his every move has been to hand over even more to multinational interests, at the expense of locally owned business.
So, Virginia is still for Lovers; fees, licenses, and multinational conglomerate, lovers.
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