Dear Editor,
There is now another “New York Takes No. 1” Ranking. Purchasing Power. But not in a good way. We have been ranked as the most costly state to live in based on the value of what $100.00 is actually worth. Besides not providing a jobs market environment, could this be another major reason why people are leaving New York?
Be it employment for the working, owning a Small Business or value for Retirees on fixed income; together or separately, all groups of those who have relocated in substantial numbers must subscribe to the adage, “ It’s not always what you make, but what you get to keep.”
Living, working or retired in New York, we are officially the most costly state to reside in, as the value of $100 is not the same in every state. For each $100.00 of income, the New York adjustment of value is $86.73. Compare this to our state neighbor of Pennsylvania to the south, where the return on $100.00 is $101.42. The difference is $14.69 per $100.00. If making $45,000.00 income, the purchasing factor increases to realize $6,610.00 more on the same income. For a growing family or a retiree on fixed income this is significant, especially when some nearby states offering similar geography and climate can top Pennsylvania’s $101.42 to rates of $106.16 and $111.61 per $100.00.
Why? New York has Albany politics promoting deep pockets of many to support the policies, and the few who continue to lobby and legislate the highest cost in Public Labor and benefits, Property Taxes, a myriad number of State Taxing Authorities, Personal and Business Taxes, Regulatory Fees, Litigation, Unfunded Legislative Mandates, just to name a few.
And yes, let’s give due consideration to the inherent collusion and graft, which always seems to be on a side burner without resolution or actual reform. Another No. 1 ranking is for the most prosecuted and convicted government bureaucrats.
I refer anyone to comparison shop their New York State purchasing power at the Bureau of Economic Analysis and the Tax Foundation, http://taxfoundation.org/blog/real-value-100-each-state-0.
Sincerely,
Florence Alpert
Candor, N.Y.
