Really interesting story in today’s New York Post. How bad is the tax burden in New York City? This bad:
On top of the city and state payroll tax, Social Security and Medicare [small-business owner John Logue] pays for employees, Logue said the city also hits him with a slew of permit fees. He recently had to pay $50 to obtain a certificate to collect sales taxes for the city and the state. In the past, it was free. He also pays the city to have a restaurant certificate, an exhaust-system permit and an illuminated-sign permit.
Logue said his [government-issued] water bills have also increased by nearly 50 percent in the last three years. Currently, he pays $1,600 every three months to the city.
“I’m getting to the point where I’m thinking about leaving New York,” he said.
Writing about California’s troubles in National Review, I noted:
If you want to know where the future is headed, look where the people are going. And if you want to know where the people are going, check with U-Haul. Here’s an interesting indicator, first noted by the legendary economist Arthur Laffer: Renting a 26-foot U-Haul truck to go from Austin to San Francisco this July would cost you about $900.
Renting the same truck to go from San Francisco to Austin? About $3,000. In the great balance of supply and demand, California has a large supply of people who are demanding to move to Texas. There’s a reason for this.
Renting a 26-foot U-Haul to move from Austin to New York City in the first week of January will cost you $911. From New York City to Austin: $2,251. I’m finding this metric useful.