New York has the country's most burdensome taxes: study

So, I came across an article about how New York has the highest taxes in the country. Not really surprising, right? But get this, it’s not just income tax we’re talking about here, it also includes property tax and sales tax. Basically, if you live in New York, you’re paying out the wazoo to the government.

According to the study mentioned in the article, the average New Yorker pays around 12.7% of their income in state and local taxes. That’s a lot more than the national average of 9.9%. And let’s not forget about property tax, which is also one of the highest in the nation.

Now, I personally don’t live in New York, but my sister does. And whenever I go visit her, I always feel like I’m bleeding money. Even just going to the grocery store seems to cost twice as much as it does in my hometown. I can’t even imagine what it’s like for people who actually live there full-time.

But why does this matter? Well, for one, it affects people’s wallets. The more money they have to give to the government, the less they have for themselves. But it also affects the state’s economy as a whole. If taxes are too high, businesses might choose to move to a different state where they can save some money. And that can have a ripple effect on everything from job opportunities to housing prices.

All in all, New York’s high taxes are definitely something to keep an eye on. It might not be a big deal for some, but for others, it could be a deciding factor when it comes to where they want to live, work, or start a business.