1resident Barack Obama's plan to have the wealthy pay more in taxes would
likely affect San Mateo County residents more than those in any other part
of the Bay Area. Eight of the region's 10 richest neighborhoods are in San
Mateo County, a Bay Citizen analysis of income statistics released last
month by the Census Bureau shows.
The president used his State of the Union message Tuesday night to call on
America's wealthiest residents to pay more in taxes, trumpeting a "Buffett
rule," named after financier Warren Buffett, designed to prevent the rich
from paying taxes at a lower rate than middle class residents.
“We can either settle for a country where a shrinking number of people do
really well, while a growing number of Americans barely get by," Obama told
a joint session of Congress, "or we can restore an economy where everyone
gets a fair shot, and everyone does their fair share, and everyone plays by
the same set of rules."
Wealthy residents of a Menlo Park neighborhood just north of Sand Hill Road,
where many Silicon Valley venture capital firms are located, had the
highest incomes in the Bay Area. The richest 5 percent of households in that
neighborhood made $1.8 million a year on average.
That was followed by an Atherton census tract west of El Camino Real; a
neighborhood in Saratoga; a section of Woodside above Interstate 280; and a
neighborhood in Hillsborough. In each of those areas, the richest 5 percent
of households took in roughly $1.7 million a year.
The next-wealthiest areas were San Francisco's Presidio Heights, where the
richest 5 percent had an average annual income of $1.47 million; San Mateo
County's Hillsborough Heights; a section of Woodside below 280; and western
Burlingame, where the richest 5 percent of households made $1.4 million a
The wooded San Mateo County enclave of Portola Valley rounded out the top 10
, with the richest 5 percent of households making $1.35 million a year.
The median household income in California is $60,000 a year. Click on the
map below to see the average income for each area, how much the richest 5
percent in that area make, and the median income for the surrounding county.
Zoom out to see information for the entire state.
Source: The Bay Citizen http://s.tt/15nGt