High Numbers Of Yuppies Settle In D.C.
As it turns out Washington D.C. is currently the preferred area for the young adults that are making more than $ 100,000 a year in their occupation. In a new analysis 16 of the top 50 counties in the United States. with the highest share of wealthy young people was the Washington D.C. area.
In terms of percentages, there are counties in the Washington metro area that are earning more as a percentage of the populace than other young adults in San Francisco and N.Y.C.. In the 1990s a lot of these well-off young adults were situated in Texas and other midwestern states because of the budding economy and oil.
Now more young professionals are deciding to live in major metropolitan areas. Following Washington, D.C. are San Francisco, Manhattan, and Denver. Roughly, 16 percent of households headed by 25-34 year olds have a median income of $49,754. While a little more than 13 percent earn $ $100,000 a year.
Overall the national median income is $51,287. One thing to point out though, is that these young individuals may be earning a lot, but they also live in high-priced areas. Housing values are extremely high along with other living expenses. What $100,000 buys in D.C. might be equivalent to what $60,000 can buy in another place.
Plus in Washington, D.C. it’s not the government that’s responsible for these salaries. Washington D.C is where a large fraction of the bright and talented individuals congregate and because of that the salaries are not that high. There’s a lot of competition. Although those that do earn high salaries, are getting those from special interest groups, businesses, and think tanks that try and recruit government officials to their side.
Many of these young professionals with high incomes are the ones that worked really hard in school, earned degrees, and graduated from leading universities throughout the country. So in essence, there isn’t much of a surprise there.
That’s still quite high though considering the fact that most individuals get paid the most when they are between the ages of 45 and 54. But in the meantime these numbers seem quite high during these economic times. It seems like many people are under pressureto put food on the table, but we need people earning high wages in order to provide for welfare and social security.
Although what’s wrong with these people earning that much money? We live in a system that supports Capitalism; thus it’s every man on his own. If you work hard, become learned or design something, then you will collect the benefits. What’s wrong with these individuals taking home that much and more? That’s the American Dream, and it’s still thriving today. It’s something that we can all achieve if we are willing to put in the sweat and tears required.
Diane Johnson earned a bachelor’s degree in Political Science from the University of Utah. She likes to write about the news, politics, college degrees, online colleges, and the college experience.
