file photo by Boyd Loving
the staff of the Ridgewood blog
Wyckoff NJ, Assemblyman Kevin J. Rooney R- 40 comments on the latest tax increase from Trenton .
Rooney said last Thursday during the state budget battle ,”People moving out of New Jersey are having a significant economic impact, according to a report released by NJBIA. Outmigration by the Numbers: How Do We Stop the Exodus? Concludes that New Jersey lost $18 billion in net income over nine years thanks to a net outmigration of 2 million residents.
The exodus leads to $8.4 billion in lost household spending; $11.4 billion in lost economic output; 75,000 lost jobs and $4 billion in total lost labor income.
This year Democrats are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase. When will New Jersey Democrats stop the insanity?”