by Steven Malanga
Manhattan Institute
July 06, 2009
City Journal
Mayor Michael Bloomberg says that balancing New York City’s budget in tough times requires “shared sacrifice,” by which he means combined tax increases and spending cuts. Yet as is often the case in New York, the biggest sacrifice is expected of taxpayers—this time, nearly $1 billion in tax hikes on top of what is already the heaviest tax burden among major cities in the nation.

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