Stuff in the ‘Taxes Economy and Outmigration’ Category
NJ’s Taxes Are the Worst in the Country for Businesses – for the Fifth Straight Year!
Posted On10/24/2019 byThe Tax Foundation has come out with its annual review of business tax climates in the 50 states, and the news for NJ is not good. For the fifth straight year, NJ is dead last. Here are the major tax categories: Corporate: 49 Income: 50 Sales: 42 Property: 47 Neighbors NY and PA – with…Read More
Assemblyman Hal Wirths Is Right About NJ Citizens’ Massive Tax Burden
Posted On10/17/2019 byIn today’s Star-Ledger, Assemblyman Wirths correctly highlights the inexorable rise of NJ’s property and other taxes and the insatiable appetite of the state’s special-interest-dominated status quo for more spending and more taxes. Wirth also wisely points out our state’s vulnerability to a recession. Wirths does NJ citizens a service by stating this clearly and succinctly….Read More
Truth In Accounting: NJ Ranks Last in Fiscal Health – for the Fifth Straight Year
Posted On10/08/2019 byShowcased in a NJ101.5 report, Truth in Accounting (TIA) is one of many research outfits that analyze New Jersey’s dire fiscal condition. Mercatus Center and Pew Charitable Trusts do so as well and make similar findings. SPCNJ’s recent report “Beware the Downward Spiral” provides a comprehensive look at New Jersey’s fiscal and economic woes, and…Read More
Governor Murphy Holds the Door While New Jersey’s Future Walks Out
Posted On10/04/2019 byThe New Jersey Globe quotes Governor Murphy: “If you’re a one issue voter and tax rate is your issue, either a family or a business, if that’s the only basis upon which you’re going to make a decision, we’re probably not your state,” Murphy said at Rowan, according to KYW Newsradio. I had to read that…Read More
Study finds NJ is #46 when it comes to taxes on families
Posted On10/02/2019 byOn the back of SPCNJ’s release of its “Beware the Downward Spiral” report, personal-finance publication Kiplinger’s released a study that looked at the property-, sales- and income tax-burden on a hypothetical family of four. Illinois – the one state with a worse bond rating than New Jersey – had the biggest tax burden. New York…Read More
The Record’s Charlie Stiles Gets A Lot Right About NJ’s High Debt Load and Our Water Crisis
Posted On09/27/2019 byBut he does leave out some important details. Kudos to the Bergen Record’s Charlie Stiles for identifying the main reason why New Jersey doesn’t have the money to fix its water pipes (and other infrastructure needs): its worst-in-the-nation debt load. Money that is used to pay for massive unfunded pension liabilities cannot be used to…Read More
SHODDY RESEARCH DOES NOT HELP THE CAUSE OF NEW JERSEY’S TEACHERS
Posted On09/13/2019 byNew Jersey public schools are among the best in the nation and our teachers are the primary reason for that. They should be compensated fairly. But teachers are ill-served by flawed research. Mark Weber, Ph.D., of New Jersey Policy Perspective (NJPP) has come out with a report detailing a “wage gap” between New Jersey teachers…Read More
FY2023 state pension payment: $6.6 billion. Where do we get the extra $2.8 billion?
Posted On09/09/2019 byThe Star-Ledger’s Samantha Marcus does some excellent work this morning in an article on New Jersey’s exploding pension costs. Marcus rightly points out that due to the ramp up to full funding (this year’s $3.8 billion payment is only 70% of the full payment), New Jersey will have to pay $6.6 billion in FY2023. That’s…Read More
The facts about “Chapter 78 relief”: New Jersey taxpayers will pay more
Posted On09/05/2019 byNJ.com reports that Speaker Coughlin has crafted a bill that gives teachers so-called “Chapter 78 relief.” This issue has been one of the NJEA’s top political priorities. Here are the salient facts: The current plan is a “platinum-plus” level plan, which means that 97% of the cost of the plan’s benefits are paid by taxpayers…Read More
GSI is spot-on when it comes to New Jersey’s underperforming economy.
Posted On09/05/2019 byIn a Star-Ledger op-ed, Regina Egea of the Garden State Initiative (GSI) is absolutely correct that New Jersey’s economic reality does not match Governor Murphy’s happy talk. SPCNJ is coming out with a new research report that details the long-term underperformance of New Jersey’s economy (in terms of personal income, state GDP and job growth)…Read More