New York’s endangered middle class continued to flee the Big Apple this week, with new data showing the region’s workers and their families are increasingly forced-out due to high taxes, housing costs, and crumbling infrastructure.
“New York City’s shrinking middle class is now in full retreat, as masses of our most endangered population depart the city in numbers not seen since the Depression, according to analysts,” writes the NY Post.
“After decades of sharp income erosion in the face of relentless taxes, escalating living costs and wage reductions through technological changes, the full extent of this shocking exodus is laid bare in the latest US Census data,” adds the author.
The stunning report comes weeks after Mayor Bill de Blasio and Governor Andrew Cuomo found themselves in hot water with local residents after unveiling major tax breaks for a new Amazon headquarter in the borough of Queens.
Read the full report at the NY Post.