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I think it’s a sample size/population density thing. Like, there are a ton of rich people in California, but there’s also a ton of people. The top 1% of California is 388,000 people. The top 1% of North Dakota is 7,400.

100 ultra-wealthy people in a group of 7000 are going to move the average further than 1,000 equivalently ultra-wealthy people would in a group of nearly 400,000.

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