UP Has More Rich Folks Than HP

My headline is an over-simplification of an article in today’s Dallas Morning News, in which Dave Michaels analyzes the impact of a bill that would raise the tax rate for individuals with incomes greater than $200,000 and couples with incomes greater than $250,000. Here’s the part of the article that caught my attention:

Most of Dallas County wouldn’t see a tax hike under the bill. But the county’s wealthier enclaves would feel it.

In the 75205 ZIP code – which roughly covers Highland Park – nearly 30 percent of taxpayers reported income above $200,000. In the 75225 ZIP code, which covers part of University Park and North Dallas, the amount is 35 percent.

According to Michaels’ analysis of IRS data, the statewide percentage is 2.8.

4 thoughts on “UP Has More Rich Folks Than HP

  • December 2, 2010 at 9:08 am
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    My guess is that a lot of HP has high net-worth individuals whose incomes aren’t necessarily in the standard form of income (wages). I didn’t read the full article so don’t know what they included as ‘reported income’.

    Also, about 1/2 of UP, everything south of Lovers Lane, is in 75205. In other words, only 1/2 of UP is even in 75225.

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  • December 2, 2010 at 10:13 am
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    I think A.B. is right: it’s all about what constitutes “income.”

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  • December 2, 2010 at 1:43 pm
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    Reported income will jump after tax dodgers repatriate their Swiss bank accounts.

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  • December 2, 2010 at 2:17 pm
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    And this is taxable income. Any income from tax free municipal bonds would not count in this category.

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