New York Has Highest Taxes in the Nation

New York’s notoriously high taxes and public spending, combined with restrictive “nanny” policies, make it the “least free” state in the country, a new study has found.

The Empire State ranked 50th in George Mason University’s biannual “Freedom in the States” rankings.

“New York has by far the highest taxes in the country,” the study reads, citing steep levies on property, income and corporations compared to other states.

The high taxes, in turn, fuel massive spending, according to the analysis by George Mason’s Mercatus Center, a libertarian think tank.

“Spending on public welfare, hospitals, electric power, transit, employee retirement . . . are well above national norms,” concludes the report, which covers the 2007-through-2009 period.

Ranking worst in the categories of economic freedom and fiscal policy, New York also landed near the bottom for the categories of personal freedom (48th) and regulatory policy (40th).

The study cites New York’s restrictive gun-control and anti-smoking laws and sky-high cigarette taxes and the Big Apple’s ban on trans fats.

The researchers also slam New York’s “excessive” home-schooling regulations and its strictest-in-the-nation health-insurance rules.

The authors rap New York for curbing the rights of individual property owners. “Eminent domain abuse,” the report says, “is rampant and unchecked.”

On the plus side, the report praises New York for relaxing its marijuana laws.

Co-author Jason Sorens said New York has the opportunity to improve its freedom rating, thanks to actions taken this year by Gov. Cuomo and the state Legislature.

“Cuomo insisted on balancing the budget through spending cuts rather than tax increases. It will help New York’s rating down the road,” said Sorens, a political-science professor at the University of Buffalo.

Sorens also said New York could move out of the cellar with across-the-board tax cuts and additional trims in spending and by reining in home-school regulations.