Hawaii named 'worst state to make a living' again

[terracore]

HONOLULU (HawaiiNewsNow) -

At least we're consistent: For a seventh straight year, Hawaii has been named the worst state to make a living thanks to its astronomical cost of living.

The ranking, put together annually by MoneyRates.com, says while Hawaii has the 10th-highest median wage nationwide, that's not enough to make up for living expenses that are two-thirds higher than in the rest of the nation. The high cost of living is compounded by one of the highest state tax income burdens in the nation.

To put together the ranking, MoneyRates considered median salary, state tax rates, cost of living and unemployment rates.

In Hawaii, the median income is $40,030 and its tax rate on average income is 5.8 percent.

On the bright side, Hawaii has one of the lowest unemployment rates in the nation.

California took the no. 2 spot for worst states to make a living, while Montana rounded out the top three.

Meanwhile, Washington was named the best state to make a living, followed by Minnesota and Illinois.

http://www.hawaiinewsnow.com/story/35739...ving-again

ETA: bold for effect/taxes

[HereOnThePrimalEdge]

If we are making a go of it in Hawaii, we should consider ourselves fortunate. Living life on the good edge of the bell curve.

She had never been to Puna before. "Are there lots of people like you?" she asked, with a hopeful expression. (Paraphrased & plagiarized from Elif Batuman)

[EightFingers]

One of the big problems with our state tax rules is you can't deduct taxes paid to the Federal government like other states allow you to do. So, basically you're taxed on money you never even see. Also, they even charge GET on GET.....sheesh you even have to pay GET on real estate commissions.

[kalakoa]

charge GET on GET

Better yet: retailer charges GET on HI-5, but because they're collecting HI-5 on behalf of the state, it's deducted from their gross receipts after the GET has been passed on to the consumer.

Sure, the overage works out to a little over a penny per six-pack ... but that could easily add up to a couple of bucks a day at a busy retailer.

[punaticbychoice]

I always wondered where the Europeans got the idea of the "Value Added Tax" (VAT)
Now I know.

[jlgerk]

UNLESS, you work and retire with a government job.

the rest of you will have to settle with less than 20 hr a week IF you can find one of those that does not want you to blow off your head.

[kalakoa]

UNLESS, you work and retire with a government job.

Exactly: government pay is tied to the cost of living, private sector ... not so much.

[HereOnThePrimalEdge]

cost of living, private sector ... not so much.

Private sector retirement is more closely tied to the price of dying.
Do you have enough money for food today?
Will your health insurance cover that procedure?

Perfect citizens: Those who do not like cake, but have a passion for producing eggs, butter, sugar & milk.

[birdmove]

I most certainly could not afford to live on Oahu or Maui. Never been to Kawaii. I am holding it together in Puna so far.

Jon in Keaau/HPP

[ElysianWort]

Of course we know all that the cost of living and the forecast of "worst state to make a living" is offset by the reward of being able to live in this beautiful place.