May 6, 2012: at the end of the original post I said: "My hunch is that the average Williston wage earner also pays at the highest federal tax rate."
At least one reader took issue with that comment and that reader was correct. I did not correctly articulate what I was trying to say. Fortunately today's Boston Globe said what I was trying to say:
The Buffett Rule - named for billionaire Warren Buffett, one of the measure’s most vocal proponents - would have generated additional revenue by requiring people who earn more than $1 million per year to pay effective federal tax rates of at least 30 percent. Because capital gains on investments, a major source of income for many affluent people, are taxed at just 15 percent, it is possible for high earners to pay lower effective rates than members of the middle class.What I should have said below is that it is my hunch that most blue collar workers in the Bakken are paying the highest effective rates for their income level. And if I'm still saying it incorrectly, I assume most folks know what I'm trying to say.
"Anonymous" was curious what the pre-boom wage number was.
I said I was curious how the Williston wage compares with cities nationwide.
CarpeDiem provides the answer. A quick search suggests Williston may lead the nation in average wages for workers. This is the link to the original Williston Herald story.
Go to the link to see the full list, but at $70,000, Williston leads San Francisco (#2) at $65K; and Washington, DC (#3) at $63K.
There will be a lot of comments about the high cost of housing in Williston. Before we go down that rabbit trail, it ain't exactly cheap to live in San Francisco or Washington, DC, where property taxes and local taxes are additional factors to consider.
My hunch is that the average Williston wage earner also pays at the highest federal tax rate.