Trickle Down Economics Failure: Six of top 10 richest counties in D.C. area

WTOP reports on the "real" trickle down economics:

The D.C. area is rich with history. Or just rich.

Six of the 10 wealthiest counties in the U.S. are in the D.C. metro area, according to Forbes.

Fall Church City, Va., ranked No. 1 on the 2014 list with a median household income of $121,250. Fall Church was incorporated as a city in 1948, giving it county-equivalent status. With a population of about 12,000, about half of its homeowners reside in houses valued at more than $500,000, according to Forbes.

In Virginia, any municipality that is incorporated as a city legally becomes independent of any county. Under the U.S. Census, they are considered county- equivalents.

It’s no coincidence that Falls Church recently ranked as the most expensive housing market in the D.C. area.

Also on the top 10 list are Loudoun County, Va.; Howard County, Md.; Fairfax County, Va.; Arlington County, Va.; and Stafford County, Va.

This year, Falls Church took the top spot from nearby Loudoun County, where the median household income is $118,934, Forbes reports.

Some of the things that attract wealthy residents to the D.C. area counties are “plenty of lucrative jobs … available in tech contracting and other professional services” and other big sources of employment such as the “local school systems and major federal agencies like the Department of Defense,” Forbes reports.

You'll notice how the proceeds of high taxation wind up near D.C. That's trickle down economics for you. Free market economics means consumers choose how resources are allocated. High tax-rent seeking- political systems allocate resources by political bureaucracy. We all know where that overpaid "center" is.