Our national discussion regarding income tax brackets has so far failed to address one of the major inequities of America's tax system. Households living in high-cost areas shoulder a tax burden disproportionate to those at their same standard of living in the rest of the country. And, not surprisingly, places like Manhattan, San Francisco, LA, Orange County, DC, Boston and several other cities, W-2 workers carry the heaviest tax burden. According to the Bureau of Labor Statistics, the 2012 average wage in Manhattan was $125,000 a year. There is a significant difference in the cost of living for these metropolitan areas. Households in high-cost areas should not bear a heavier tax burden than similarly situated households in less-expensive areas. Tax rates should be adjusted for location.
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