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


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.