Thursday, November 1, 2007

Poor in NYC


In case you had to see the graphic mentioned in my comment on Traub's essay, here it is. Given that New York City residents pay some of the highest taxes in the country, it's interesting that only 3 percent list "taxes" as a reason for feeling poor.

Perhaps if they knew of the tax-avoidance schemes being employed by the city's super rich and its army of trusts and estates attorneys, the very act of paying taxes, independent of the marginal rate, might begin to feel more impoverishing. As David Cay Johnston says: "Taxes, They're not for Everyone."

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