If he was earning $350,000 gross and has $200k after tax and withholdings, then I'd say that is a big tax burden. His tax and other withholdings are larger than my dual income family's entire gross income. If he had an extra $50,000 (due to lower taxes) he would increase his net income by 25% and his disposable income by much more (percentage wise).
I have no idea how much it costs to live a nice manhattan lifestyle, but it doesn't sound like the guy bringing home $200,000 net is living really large. He may have his indulgences, but renting a summer vacation home and living in 1200 sf isn't exactly an indulgence for most middle class americans. You have to vacation somewhere, and their duplex is the size of my condo I lived in during law school.
These guys can always trim their expenses, like all of us can. I'm sure the minimum wage earners sitting next to me on the bus on the commute to work would laugh at most middle income households profligate spending (things like proper dental care, safety features in cars, college savings accounts, eco-conscious consumption etc).