Financial State of the States - 2014
-- by David Swink, FCTA, 10/03/2014
The Truth In Accounting organization has made available extensive financial information on each of the fifty states in the U.S. FCTA has below presented summary data plus links to the detailed information for these states in order of their rating for financial responsibility. (State average income will be added as data becomes available.)
To see if red-state/blue-state is a factor here, the 2012 Presidential Election Results have been appended. While the top and bottom quintiles follow the predicted pattern, the middle shows no real correlation. So voting Conservative does not imply frugal state spending; and voting Liberal does not necessarily imply your state is headed towards bankruptcy.
01: Alaska +$52,300/taxpayer surplus; 99% of avg income of $52,901 (Romney 54.80%) 02: North Dakota +$28,400/taxpayer surplus; ??% of avg income of $??,??? (Romney 58.32%) 03: Wyoming +$22,600/taxpayer surplus; ??% of avg income of $??,??? (Romney 68.64%) 04: Utah +$4,200/taxpayer surplus; ?% of avg income of $??,??? (Romney 72.79%) 05: South Dakota +$4,000/taxpayer surplus; ?% of avg income of $??,??? (Romney 57.89%) 06: Nebraska +$2,800/taxpayer surplus; ?% of avg income of $??,??? (Romney 59.80%) 07: Idaho +$2,400/taxpayer surplus; ?% of avg income of $??,??? (Romney 64.53%) 08: Oregon +$2,000/taxpayer surplus; ?% of avg income of $??,??? (Obama 54.24%) 09: Tennessee +$1,300/taxpayer surplus; ?% of avg income of $??,??? (Romney 59.48%) 10: Montana +$900/taxpayer surplus; ?% of avg income of $??,??? (Romney 55.35%) 11: Iowa +$900/taxpayer surplus; ?% of avg income of $??,??? (Obama 51.99%) 12: Indiana -$700/taxpayer burden; ?% of avg income of $??,??? (Romney 54.13%) 13: Florida -$1,100/taxpayer burden; ?% of avg income of $??,??? (Obama 50.01%) 14: Arkansas -$1,500/taxpayer burden; ?% of avg income of $??,??? (Romney 60.57%) 15: Virginia -$1,500/taxpayer burden; ?% of avg income of $??,??? (Obama 51.16%) 16: Oklahoma -$2,200/taxpayer burden; ?% of avg income of $??,??? (Romney 66.77%) 17: Minnesota -$2,200/taxpayer burden; ?% of avg income of $??,??? (Obama 52.65%) 18: Nevada -$2,700/taxpayer burden; ?% of avg income of $??,??? (Obama 52.36%) 19: Colorado -$3,300/taxpayer burden; 7% of avg income of $48,730 (Obama 51.49%) 20: Arizona -$3,300/taxpayer burden; ?% of avg income of $??,??? (Romney 53.65%) 21: Missouri -$3,400/taxpayer burden; ??% of avg income of $??,??? (Romney 53.76%) 22: Ohio -$3,500/taxpayer burden; ??% of avg income of $??,??? (Obama 50.67%) 23: Wisconsin -$4,100/taxpayer burden; ??% of avg income of $??,??? (Obama 52.83%) 24: Georgia -$4,500/taxpayer burden; 12% of avg income of $39,097 (Romney 53.30%) 25: New Hampshire -$4,700/taxpayer burden; ??% of avg income of $??,??? (Obama 51.98%) 26: Kansas -$6,700/taxpayer burden; ??% of avg income of $??,??? (Romney 59.71%) 27: Texas -$8,300/taxpayer burden; ??% of avg income of $??,??? (Romney 57.17%) 28: North Carolina -$8,400/taxpayer burden; ??% of avg income of $??,??? (Romney 50.39%) 29: Washington -$8,500/taxpayer burden; ??% of avg income of $??,??? (Obama 56.16%) 30: Maine -$8,800/taxpayer burden; ??% of avg income of $??,??? (Obama 56.27%) 31: Mississippi -$9,200/taxpayer burden; ??% of avg income of $??,??? (Romney 55.29%) 32: New Mexico -$9,700/taxpayer burden; ??% of avg income of $??,??? (Obama 52.99%) 33: South Carolina -$9,700/taxpayer burden; ??% of avg income of $??,??? (Romney 54.56%) 34: West Virginia -$13,300/taxpayer burden; ??% of avg income of $??,??? (Romney 62.30%) 35: Maryland -$13,200/taxpayer burden; ??% of avg income of $??,??? (Obama 61.97%) 36: Alabama -$13,400/taxpayer burden; ??% of avg income of $??,??? (Romney 60.55%) 37: Rhode Island -$13,500/taxpayer burden; ??% of avg income of $??,??? (Obama 62.70%) 38: Vermont -$14,300/taxpayer burden; ??% of avg income of $??,??? (Obama 66.57%) 39: Louisiana -$15,200/taxpayer burden; ??% of avg income of $??,??? (Romney 57.78%) 40: Pennsylvania -$15,600/taxpayer burden; ??% of avg income of $??,??? (Obama 51.97%) 41: Delaware -$17,400/taxpayer burden; ??% of avg income of $??,??? (Obama 58.61%) 42: Michigan -$18,100/taxpayer burden; ??% of avg income of $??,??? (Obama 54.21%) 43: New York -$20,700/taxpayer burden; 37% of avg income of $56,231 (Obama 63.35%) 44: California -$20,900/taxpayer burden; ??% of avg income of $??,??? (Obama 60.24%) 45: Hawaii -$26,500/taxpayer burden; ??% of avg income of $??,??? (Obama 70.55%) 46: Massachusetts -$27,400/taxpayer burden; ??% of avg income of $??,??? (Obama 60.65%) 47: Kentucky -$32,600/taxpayer burden; ??% of avg income of $??,??? (Romney 60.49%) 48: Illinois -$45,000/taxpayer burden; ??% of avg income of $??,??? (Obama 57.60%) 49: Connecticut -$48,600/taxpayer burden; ??% of avg income of $??,??? (Obama 58.06%) 50: New Jersey -$52,300/taxpayer burden; ??% of avg income of $??,??? (Obama 58.38%)