On The Right: Highest taxes, debt in NY: Nassau

For over half a century, New York has been ranked at the bottom of the 50 states for economic competitiveness.
In 1975, for instance, the Fantus Company survey gave the Empire State “undisputed last place for attractiveness of business climate.”
Not much has changed since then.
Earlier this year, the American Legislative Exchange Council in “Rich States, Poor States,” a study that analyzed 15 policy variables, New York came in 50^th place for economic attractiveness.
Reasons for these dismal results included New York’s high cost of labor; high cost of energy; onerous regulations; unfunded state mandates; and huge public debt.   
But the top one is taxes.  
New York has the highest combined state and local taxes in the nation.
Ever growing taxes to service ever growing debt and government largesse is at the root of our economic malaise.  And a report recently released by the Empire Center for Public Policy, “Benchmarking New York,” reveals that the tax and debt numbers for Nassau and many of its municipalities are the worst in the state.
Here are some of the grim findings:
Nassau has the highest per-capita debt owing $3,045 per resident.
North Hempstead is the highest spending and most heavily indebted large town in the state;
Here are pertinent comparisons:
Per Capital Debt-Counties
Nassau$3,045
Westchester$1,444
Suffolk$1,568
Average$643
Per Capital Taxes-Counties
Nassau$1,605
Westchester$1,299
Suffolk$1,360
Average$1,092
Per Capital Spending-Counties
Nassau$2,677
Westchester$2,712
Suffolk$2,102
Average$2,143
Per Capita Debt-Large Towns
North Hempstead$1,496
Hempstead$536
Smithtown$159
Average$542
Per Capita Taxes-Large Towns
North Hempstead$715
Hempstead$425
Smithtown$497
Average$566
Per Capita Spending-
Large Towns
North Hempstead$1,198
Hempstead$767
Smithtown$889
Average$875
And you wonder why people, particularly millennials, are fleeing Nassau for greener economic pastures and low property tax environments.
Contrary to all the happy talk of the political classes, Nassau’s economy will continue to be fragile until genuine tax and spending reforms are implemented by its county and town governments.