New York Ranked ‘Least Free State’ in US amid Crushing Taxes, Soaring Debt

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New York Ranked ‘Least Free State’ in US amid Crushing Taxes, Soaring Debt

New York has been dubbed “the least free state” in America” due to its soaring debt, crushing taxes and regulations, according to the think tank The Cato Institute.

According to the report, the Big Apple ranked last at 50th for its policies impacting economic, social, and personal freedoms in 2022.

In contrast, Florida ranked 2nd, and New Hampshire was first as the most free state in the union.

New York scored poorly as the “least free state” due to hits debt and state and local taxation, government consumption, land use, and labor policy, the New York Post reported.

The Cato report authored by William Ruger and Jason Sorens said:

“New York’s terrible economic freedom score is going to continue to drag the state down—and harm its ability to realize its full economic potential.”

“Combined, state and local taxes are crushing.”

“Debt is down from years past but is still the highest in the country at 26.1 percent of income.”

New York City’s wealthy residents pay among the highest combined state and local income taxes in the country at almost 15% at the top level.

Property taxes in the New York suburbs are also sky-high.

Co-author Ruger told The Post:

“It is little wonder that New Yorkers are fleeing the state in droves.”

“New Yorkers have been voting with their feet for years, leaving a state with such a glorious past and a great magnet supercity in part because of its stifling policies that restrict freedom and opportunity.”

“New York outpaced all other states by far in terms of net out-migration to other states.”

“One of the worst problems for New York state as a whole is how New York City and Albany drive policy for the rest of the state,” he continued.

“This allows left-wing ideologies and powerful concentrated interests to combine to run the state for their benefit while regular New Yorkers suffer,” he added.

“We especially see this in the regulatory area with policies like rent-control, eminent domain, renewable portfolio standards, minimum wage laws, and certificate of need laws.”

By comparison, Flordia came out on top because it does not impose an income tax on its residents.

Besides soaring taxes, New York is also facing an illegal immigration crisis.

Last week, NY Democratic Mayor Eric Adams announced he would be making significant cuts to the NYPD and Education Department budgets to deal with the illegal immigration crisis in the city.

The Daily Fetched reported:

Under Adams’ new budget cuts, there will be a complete freeze on police hiring, dropping the number of NYPD officers to below 30,000.

The city’s Education Department will also be affected, with the budget slashed by more than $1 billion over the next two years.

“No city should be left to handle a national humanitarian crisis largely on its own, and without the significant and timely support we need from Washington, D.C. Today’s budget will be only the beginning,” Adams said.

Eric Adams said the budget cuts are a solution to deal with the illegal immigration crisis, adding that “In all my time in government, this is probably one of the most painful exercises I’ve gone through.”

Adams also accused Joe Biden of destroying New York City with his migrant crisis.

“The city is being destroyed by the migrant crisis,” Adams said.

“And none of my folks came to Washington, DC, to fight for the resources that are going to undermine every agency in our city,” Adams added.

More recently, Adams warned that illegal immigration is “devastating” the city and will hurt residents.

READ: Mayor Adams Melts Down over Illegal Immigration: New York Is at ‘BREAKING POINT’

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