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24/7 Wall St.: States with the Widest Gap Between the Rich and Poor

8. Texas

Gini coefficient: 0.4771
Median household income: $49,392 (25th highest)
Households earning $200,000+: 5.4% (16th highest)
Population living below poverty line: 18.5% (11th highest)

The percentage of Texan households earning more than $200,000 in 2011 increased to 5.4% from 5.1% in 2010, placing Texas in the top-third nationally. The same was true for the other end of income earnings. The percentage of households earning less than $10,000 was also in the top third at 5.7%, up from 5.3% in 2010. Texas’s unemployment rate in Sept. 2011 of 7.9% was significantly better than the national rate of 9% at the time. However, the state had a disproportionate share of low-wage jobs compared to the country as a whole, according to the BLS. Workers earning minimum wage or less comprised 8% of the state’s hourly workers in 2011 compared to 5.2% nationwide.

(iStock)

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States with the Highest (and Lowest) Taxes
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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