Only 479 millionaires in South Dakota!

That amazing fact arrives today courtesy of the Democratic Congressional Campaign Committee in a news release criticizing Republican U.S. Rep. Kristi Noem for her intent to vote for a one-year extension of the Bush tax cuts. The news release says there will be an average $160,000 tax break for the 479 millionaires among South Dakota’s 382,006 households. That’s only six to seven millionaires per county! So here’s the question: What would need to be done for South Dakota to have 10 times that many by 2020? (No, inviting cousins from North Dakota doesn’t count.)

4 thoughts on “Only 479 millionaires in South Dakota!

  1. Sandy

    I don’t mean to spin this one way or another, but do you have a source for that number? Also, how is “millionaire” defined: by total wealth or annual income? Finally, the tax year used matters quite a bit. If they used something like tax year 2008 or 2009 data (e.g. recession year data) it is probably not representative of the current year.

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