I was actually surprised we had so many. I wonder what the per capita rate is for the states? I heard that SD ranks around #1. And you wonder why we continue to not have an income tax, instead we find it fitting to tax the poor on food;
In 2006, South Dakota ranked 44th in the nation with 11,769 millionaire households. While that number rose to 12,563 in 2007, the state’s rank actually dropped to 47th. The state rose to 41 with 12,151 millionaire households in 2008, but dropped to 47 this year with 10,646.
Just think if we put a 6% income tax just on those 10,646 residents (based on only making $1 million a year) the state would raise $638,760,000 million. With that kind of dough, we could eliminate video lottery, retail taxes and reduce property taxes in one clean sweep. But hey, that would make sense and be fair, how dare we!