$250,000 Is A Lot of Income, Even In New York City

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The more serious concern people have is that housing costs in New York (and several other major cities) are wildly higher than the national average. This is true and represents a real blow to the living standards of New Yorkers, Bostonians, San Franciscans, and so forth. But it would be a huge mistake for tax policy to compensate for this.

Source: Slate.

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