Some say there are too many millionaires in the United States: The increase in the number of taxpayers earning seven figures or more each year is a sign of growing wealth inequality. Others see the surging number of millionaires as a positive: a reflection of economic dynamism and wealth creation. Not to mention, millionaires pay a disproportionate share of state and local taxes, and they donate to local charities.

For good or bad, this Internal Revenue Service (Via Competitive NYS) shows that Virginia minted new millionaires at a much slower rate between 2010 and 2022 than 31 other states. — JAB