Why are NYC taxes so high?
Started by anonymous
over 7 years ago
Discussion about
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Guys, please correct me if wrong, but does NYC not have the highest tax rates on income in the world? The media loves to point the the dysfunction in California, but what about NYC? Especially for the self-employed brokers on this forum, does the UBT and self-employment tax not add up to basically 70% marginal tax rates at the top? Once "you make it here," you can pay 70% of what you make so it'll be next to impossible to accumulate wealth? Source study: https://www.hauseit.com/things-to-consider-before-you-buy-an-apartment-in-nyc/