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.)

  1. #1 by Ambiguous on August 1, 2012 - 12:19 pm

    find oil and get it out of the ground…

  2. #2 by Ambiguous on August 1, 2012 - 12:21 pm

    How many of those 479 millionaires are Democrats?

  3. #3 by Sandy on August 6, 2012 - 11:14 am

    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.

  4. #4 by Sandy on August 13, 2012 - 2:44 pm

    Nobody knows?

    Then we should probably ignore these numbers. They are likely cherry-picked.

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