It’s not California. It’s not Illinois. It’s not even horribly dysfunctional little Rhode Island. It’s…
Congratulations Empire State. Way to go.
And how awesome is it that both the Republican and Democratic candidates for the presidency have strong ties to New York.
(From Freedom in the 50 States)
New York’s local tax burden is twice that of the average state: 7.8 percent of income in FY 2012. However, New Yorkers have ample choice in local government: 4.1 competing jurisdictions per 100 square miles of private land. The state tax burden, at a projected 6.7 percent of income in FY 2015, is also higher than the national average. The government spends almost four times what the average state does on subsidies to business. Debt is the highest in the country at 31.9 percent of income. Government employment, however, is slightly lower than average and has come down since 2010.