This is an interesting graph, showing the combined tax burden of nations. Take all the taxes imposed by a nation, and the resulting figure is portrayed as a misery index. Cute. And informative.
Nations with a high tax burden will generally have a lower rate of growth because the taxes cut off investment and the flow of capital. Taxes become an opportunity cost, which has to be factored into every business decision - including where to operate factories, businesses, and sales. People will naturally opt for more favorable tax situs, so those nations that improve their tax situation will get businesses to grow and/or relocate.
Note that the US average misery index puts it in the bottom third of all nations, which is a good thing. New York City, however, would have a far higher misery index than someone in Nevada, because of the additional taxes New York imposes - from state and local income taxes to all kinds of New York City taxes. That's not so good for businesses trying to make New York their home.
Getting New York taxes under control should be a major issue in the upcoming statewide elections, but will likely be overshadowed by other issues - like the rebuilding of the WTC, the West Side Stadium, and spiraling health care and education costs.
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