Update: August 10, 2011

Portland's Personal Income Growth Beats National Average

Total personal income in Portland jumped 3.1 percent in 2010 from the prior year, growing at a faster clip than the national average for metropolitan areas, according to data released by the U.S. Bureau of Economic Analysis (BEA).

With the growth in 2010, total personal income in the Portland metro area recovered from the drop experienced during the recession. Total personal income in 2010 came in at $90.7 billion, up from $87.9 billion in 2009. The prior peak of $89 billion was set in 2008.

Read the news release Portland's Personal Income Growth Beats National Average. Click here for a PDF copy.

Millionaires Pay No Federal Income Taxes

In case you missed it, last week the IRS published income tax data for 2009.

In 2009, of the 236,883 taxpayers with $1 million or more in adjusted gross income, 1,470 (0.62 percent) paid no federal income taxes.

By contrast, in 2007, before the Great Recession, there were more millionaires -- 392,221 -- but fewer escaped paying federal income taxes. That year, 961 (0.25 percent) paid no federal income taxes.

Read the blog post Millionaires pay no federal income taxes.