A Tax Foundation study analyzed data and adjusted the value of $100 to find out the states where $100 is worth the least amount, and Alabama is at the top of the list, trailing just behind its neighbor for the top spot.
The report found Alabama to be ranked second in the country where you can get the most bang for your buck, where $100 is worth $115.47.
Mississippi, which slightly outranked the Yellowhammer state by $0.27, took first place after the report found that the value of $100 in that state can get you $115.74 worth of goods.
States where $100 goes furthest: report https://t.co/tOUgirIj0Q pic.twitter.com/ckvQYrJ3CL
— FOX Business (@FoxBusiness) August 21, 2018
The other three states ranking in the top five where $100 goes the furthest are Arkansas ($115.07), West Virginia ($114.16) and Kentucky ($113.90).
The place in the United States where $100 goes the least is Hawaii ($84.46), followed by the District of Columbia ($86.28), New York ($86.51), California ($87.41) and New Jersey ($88.34).
Comparing the Tax Foundation’s 2016 report analyzing the value of $100 in each state, Alabama has seen a $1.57 increase in two years, while Mississippi has only seen a $0.40 increase.
The report also mentioned how regional price differences can impact Americans.
The author writes, “Regional price differences are strikingly large; real purchasing power is 34 percent greater in Mississippi than it is in New York. In other words, by this measure, if you have $50,000 in after-tax income in Mississippi, you would need after-tax earnings of $67,000 in New York just to afford the same overall standard of living.”
To read the entire report, click here.
@RealKyleMorris is a Yellowhammer News contributor and also contributes weekly to The Daily Caller
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