New Jersey’s median household income declined by $7,214 between 2006 and 2008; the largest decrease in the nation according to the U.S. Census Bureau. This represents a 10.1% decline in median income (as opposed to Pennsylvania which had a 1.1% decline). Despite being an economic basket case, our elected representatives raised taxes by over $1.2 billion dollars during a recession.
New Jersey taxpayers pay $7,000 a year on average in property taxes, twice the national average. Under the budget just passed by our elected representatives, the property tax rebate was limited to households earning less than $75,000. About 1 million homeowners no longer get rebates, thereby increasing their property taxes AGAIN.
The budget just passed also increases the top personal income tax rate to 10.75%, one of the highest in the nation. Two thirds of small businesses pay this tax rate. Since 2002, New Jersey raised taxes on each resident by $2,601 — the highest in the nation. Taxpayers spent 211 days a year working to cover the cost of government. New Jersey has the highest state and local tax burden, the second highest business tax burden, and the highest property tax burden per capita. The budget even raises taxes on health insurance premiums!!
In the end, what does this accomplish? New Jersey had a massive exodus of residents every year for the past 10 years. The state lost 335,000 people since 1997 — one of the highest outflows in the nation. The top destination for these Garden State exiles is low tax Pennsylvania and Florida and along with them $13 billion in income and wealth. The death spiral of ever increasing taxes causes taxpayers to flee and businesses to relocate, thereby destroying jobs.
Assemblyman Greenwald, D-Camden, Burzichelli, D-Gloucester and Riley, D-Gloucester, mockingly challenge voters “if you don’t like the budget vote us out.” That is the best suggestion coming from our elected representatives. TAXPAYER ALERT TO THE GARDEN STATE: WE ARE NO LONGER YOUR ATM MACHINE!!!
Doctor Bob Villare– District 3 Assembly Candidate
856-423-4515 559 Mantua Avenue Paulsboro, NJ