New 'Cry for Relief' From Taxes in New York City

The New York Sun reports:

A new report showing that the combined state and local tax burden in New York City is nearly 50% higher than it is in other major cities will strengthen the consensus for cutting taxes here, if early reaction from politicians, business leaders, and budget analysts is any indication.

Rep. Anthony Weiner, a Democrat who ran for mayor in 2005 and will likely try again in 2009, called yesterday's report from the Independent Budget Office a "rallying cry for relief," saying the middle class in the city is getting squeezed.

"It's time we gave the middle class a real tax cut," Mr. Weiner said. "It's time we restored progressivity and fairness."

The report found that compared to the other eight largest American cities — Los Angles, Chicago, Houston, Philadelphia, Phoenix, San Diego, San Antonio, and Dallas — taxes in New York City were an average of 47% higher. State and local taxes gobble up $9.02 of every $100 of taxable income compared to the $6.16 average elsewhere.

When you are the high cost city,you can bet you'll grow less than other cities.