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Publication Date: December 2006
Publisher: Long Island Index
Author(s):
Research Area: Banking and finance
Type: Report
Coverage: New York
Abstract:
Ask most anyone on Long Island and they’ll tell you: the trouble with taxes is they are too high. But vital issues concerning taxes go far beyond the pain of the individuals who must pay them. These issues are far-reaching and interconnected. Taxes that are too high encourage the flight of human talent and businesses to less costly areas, with potentially devastating effects on a region’s competitiveness. Yet taxes can be too low. A region that lacks the revenues to provide excellent schools and other services may suffer the same kind of exodus.