Via the Seattle Times:
For all Seattle’s newfound affluence, there are still a whole lot of folks living paycheck to paycheck. That’s no surprise, of course — but here’s some new data that bring this economic reality into sharp focus.
Of the roughly 419,000 tax returns filed in 2014 by city residents, 214,000 — 51 percent — showed an adjusted gross income of less than $50,000. And more than half of those folks are making less than $25,000.
The numbers come from a new analysis of IRS data by the Economic Opportunity Institute (EOI), a liberal public-policy think tank based in Seattle. Researchers there used ZIP code-level tax-return data to create a breakdown of reported incomes for single and joint filers in Seattle, with some caveats.
Of those reporting income of less than $50,000, the overwhelmingly majority are single filers — a total of 187,000. Remarkably, that’s more than two-thirds of Seattle’s single population.
More To Read
July 19, 2024
What do Washingtonians really think about taxes?
Most people understand that the rich need to pay their share
July 18, 2024
Protect Washington’s Kids by Protecting the Capital Gains Tax
Vote NO on I-2109 to keep funding for public education and childcare
July 15, 2024
It’s too expensive to get sick – it’s time to protect Washington patients
The extraordinary cost of medical debt.