We’ve got a big election coming up. National activists are meddling like you wouldn’t believe — throwing in lots of dollars and disinformation. Well, we’re here to help you see through all that bovine feces.
The drive by media and the Democrat ticket have all been babbling about the lack of growth in personal income in our state. According to the Bureau of Economic Analysis — yes, the Obama regime — our state saw personal income growth from 2013-2014 that surpassed Tennessee and Virginia, and was right in line with our neighbors to the south — South Carolina, Georgia, and Florida.
And then there’s the cost of living AND purchasing power. The Tax Foundation performs a study for every year illustrating the relative value of $100 in each state, as compared to the national average. According to those good people, you get a bigger bang for your $100 bucks in North Carolina than you do in Georgia, Florida, or Virginia. (You do slightly better in Tennessee and South Carolina than you do in North Carolina.)
For instance — real purchasing power is roughy 12% higher in North Carolina than it is in Virginia. So, if you make $50,000 after taxes in North Carolina and relocate to Virginia, you would need to make $56,000 after taxes in Virginia to enjoy the same standard of living you had in North Carolina.
North Carolina’s real purchasing power is 8% higher than Florida’s. So, if you make $50,000 after taxes in North Carolina and then relocate to Florida, you would need to make $54,000 after taxes in Florida to maintain the same standard of living you had in North Carolina.