Posted on

New Jersey’s High Taxes and Anti Business climate have curtailed philanthropic giving

Steve-Sweeney-Atlantic-City-finances

nj senate president steven sweeney

Americans for Prosperity: Benevolence, The Latest Victim of NJ’s High Taxes

New Jersey Ranks 46th in the Nation for Charitable Giving

Ridgewood NJ,  New Jersey’s confiscatory tax climate is responsible for the highest property taxes and worst business climate in the country, but it is also having another deleterious effect. Today, New Jersey ranks among the least philanthropic states in the country according to a new report from the American Legislative Exchange Council (ALEC).

“The season of giving is upon us, yet how sad is it that New Jersey has reached the point where people can no longer afford to be as generous as they would like to be because of high taxes,” remarked AFP state director Erica Jedynak. “We might as well refer to our income tax as the anti-benevolence tax.”

The ALEC report, State Factor: The Effect of State Taxes on Charitable Giving, examined data from 1997-2012 and revealed an inverse correlation between taxes and charitable giving. As stated in the report’s conclusion, “[I]ndividuals in states with high taxes donate less and individuals in states with lower taxes donate more.” New Jersey placed 43rd on ALEC’s list for the period 1997-2012 and 46th for the period of 2008-2012.

“As Ronald Reagan said, ‘the spirit of voluntary giving [is] ingrained in the American character.’ So it is with New Jerseyans of good will who would no doubt love to give more to causes they care about and to help those who are impoverished or sick,” said Jedynak.

“Yet, instead of being able to donate more to causes that dispense charity with a warm heart and lift people up, their hard-earned money is filtering through the cold hands of bureaucracy and ensnaring people in dependency.”

“There is little compassion in that, and it’s just one more reason we need ease the tax burden on New Jersey families.”

Posted on

New Jersey’s Anti Business Climate Strikes again : State lost 26,100 jobs in two months

Alantic City

New Jersey lost 26,100 jobs in June and July, the state’s worst two-month loss since the spring of 2009 at the end of the recession, nearly wiping out all the gains for the year.
Hugh R. Morley, The Record Read more

Posted on

N.J. seeks a way to recover its innovation sector

1000509261001_2047872072001_Edison-Modern-Marvels-FIX

APRIL 19, 2015    LAST UPDATED: SUNDAY, APRIL 19, 2015, 10:24 AM

BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

What can New Jersey — once the home of storied inventors like Thomas Edison and the Bell and Sarnoff labs — do to get its innovation mojo back?

That question held center stage at a forum of business and civic leaders in Newark last week that outlined a way to jump-start New Jersey’s struggling economy by tapping into the traits that once made the state a thriving, innovation powerhouse.

The success of Bell Labs, created in 1925 with a staff of 4,000 scientists and engineers, has become a symbol of New Jersey’s former stellar, and now greatly diminished, technological prowess.

The laboratory’s string of groundbreaking discoveries, ranging from laser spectroscopy, cosmic microwave background radiation, the first orbiting communications satellite (Telstar), a solar battery cell and the UNIX operating system that transformed the Internet, garnered eight Nobel prizes and 32,000 patents — a daunting legacy that hangs over the state’s efforts to restore its reputation as a high-tech center.

http://www.northjersey.com/news/business/how-we-get-back-to-state-of-innovation-1.1312422

Posted on

Report: NJ at back of the pack for jobs growth

imgres-15

Report: NJ at back of the pack for jobs growth

DECEMBER 3, 2014    LAST UPDATED: WEDNESDAY, DECEMBER 3, 2014, 6:13 PM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

A private sector employment report showing the nation has added jobs at a healthy clip since the start of the year also shows just how far behind New Jersey remains in the economic recovery.

The nation added 208,000 private sector jobs in November, taking the total added to 2.26 million this year, according to the monthly survey released Wednesday by ADP Research Institute, a division of Roseland-based payroll company ADP.

The employment increase of about 2 percent for the year so far, very close to the official government figures from the U.S. Bureau of Labor Statistics, is the latest evidence that the recovery from the Great Recession is continuing at a good pace.

Meanwhile, New Jersey’s private sector employment has increased by slightly more than a third of that amount – just over 0.7 percent – as several key sectors have lost jobs this year, according to the state’s latest employment report, which covers the year through October. The sectors in which New Jersey’s private employment has fallen this year included construction, manufacturing and leisure and hospitality.

New Jersey lagged in particular in the “goods producing” sector, which has fallen by just over 1.1 percent so far this year, losing about 4,200 jobs, compared to a gain of 1.86 percent nationwide, according to the ADP report.

http://www.northjersey.com/news/business/report-u-s-november-jobs-strong-but-impact-on-nj-unclear-1.1145507