The post-tax figure was adjusted for the local cost-of-living, using data from the Council for Community and Economic Research. SmartAsset used its paycheck calculator to factor in federal, state and local taxes for a single earner with $250,000. The city invests more heavily in education, health and human services, public safety and infrastructure than other cities with lower taxes. Portland generally has the highest personal income tax of any city in the United States. 'The fact that a third of them are living paycheck to paycheck should surprise you.' 'Earning a quarter of a million dollars a year is more than five times the national median and is clearly high income,' Anuj Nayar, LendingClub's financial health officer, said at the time. The research found a $250,000 salary went furthest in Memphis, Tennessee, pictured Last year a report by loan issuer LendingClub found that more than one third of consumers living paycheck-to-paycheck were earning at least $250,000 a year. The issue has only been compounded by red-hot inflation which has hammered household savings. The term was first coined in 2003 by Fortune magazine. The cohort was found to have too high taxes and outgoings to build wealth, meaning most of their income is spent on their personal expenses rather than investments and savings. People earning between $250,000 and $500,000 are often referred to as 'high earners, not rich yet' - or HENRYs. The national average tax slapped on workers earning more than $250,000 a year is 35 percent - almost five percentage points more than those on $100,000. Jaclyn DeJohn, SmartAsset's managing editor of economic analysis, told Bloomberg: 'You could say Portland 'penalizes' high earners the most.' They were followed by San Francisco and Los Angeles, California, where workers were taxed 38 percent on a $250,000 salary.Īcross the board, no employee in these areas took home more than $157,005 of their salary. St Paul and Minneapolis, both in Minnesota, came in second place, with salaries of more than $250,000 taxed at 37.2 percent - or 6.2 percentage points more than somebody on $100,000. We love you all and can’t thank you enough.Analysis by financial information firm SmartAsset reveals the cities where high earners are taxed most It was our privilege to continue the legacy of comfort food, fine wine, and unforgettable people that our founders Jon Beckel and Daris Ray originally started. Each and every one of you has made an impact on what Montage became. We have seen some of the best people come in and out of our doors. We lost count, but we employed thousands during our many years in business. We want to thank our outstanding and wonderful building owners at City Liquidators, as well as thank our vendors for their time, dedication, and partnership.Ībove all else, we owe our greatest gratitude to our truly remarkable staff.

We depart with the special feeling that most Portlanders have a memorable Montage story-whether it was a first date or the last stop after a night on the town. We are grateful to have been a part of your countless anniversaries, birthdays, weddings, and special occasions. We want to thank our city and everyone who has dined with us over the years. We have been so honored to serve Portland for the past 27 years. It is with a heavy heart that we announce that we are permanently closing Le Bistro Montage.

This along with a ton of rumors about other restaurants closing.

Reader Survey: Best Coffeehouses in Portland 2017Īfter positive notes as recently as June 18th, Bistro Montage has reversed direction and decided to close.

A Map of our favorite Portland coffeehouses.

Interviews: Honest dialog with people in the Portland food industry.

Reader Survey: Best of Portland Food 2017.

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