CityRealty Insider > The Walking-out-the-Door-Tax¿¿¿Where Did All My Money Go?

The Walking-out-the-Door-Tax¿¿¿Where Did All My Money Go?

JULY 2, 2009

Sneaky cash-snatchers seem to pop up just going from cab to curb.

You know the feeling—you open your wallet to pay for something, and you find yourself looking at, well, wallet. And you swear you had a few twenties in there when you left home this morning.

You're experiencing the effect of the dreaded "walking-out-the-door" tax. It's known more scientifically as the cost of living. And while rent or mortgage is undoubtedly high, we're more likely to forget that little things add up. We make a trip to the grocery store for one item but somehow end up with six. Your daily caffeine fix will run about $4.50 from Starbucks ($2.50 from a street cart) and lunch can easily average $7-$10 for a sandwich-and-soda in any Midtown cafeteria. Cab or car fares themselves keep climbing—you're not likely to get away with a cab ride anywhere in the 5 boroughs for under $10. To make matters worse, subway and bus fares just went up by 25 cents a ride.

If your day carries over into the evening hours, of course, there's plenty of damage to be done. Hard times or not, dinner in the city has gotten—predictably—more expensive according to Zagat. The average Manhattan dinner costs $30-$50 and the average price of a mixed drink or a beer is about $8 and $6 respectively, and the sky's the limit in a club or lounge.

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