the staff of the Ridgewood blog
Trenton NJ,after his 2020 State of the State address, Governor Murphy struck back at criticism that looks for ways to tax the residents of New Jersey, during a Q and A with reporters following the launch of his Jobs NJ initiative.
‘I don’t wake up every morning reflexively trying to figure out ways to tax people’, the Governor said. ‘In fact, to the contrary, I wake up every morning trying to figure out how we reign in the mess in property taxes that we inherited two years ago’.
Murphy said he ‘wakes up asking what is fair, what is right’. Really “what is fair, what is right” to whom?
Apparently not residents a recent poll found that 44% of Garden Stater’s are planning to eventually leave the state because of high property taxes and the high cost of living. Economists and business leaders say this trend could be devastating to businesses and the economy — and make the tax situation even worse.
Tom Bracken, president and CEO of the New Jersey Chamber of Commerce, said the exodus “takes away from the qualified workforce that we need to allow businesses to grow [and] the outmigration of the retirees takes away the people who in their retirement years would be here spending money and helping our economy.”
Bracken predicted the state would also take a hit in tax revenue.“That’s going to have the ripple effect of putting pressure on being able to pay for the programs that are needed to sustain the state,” he said.
Currently as per Forbes Magazine, New Jersey ranked 49th in regulatory environment and business costs – 14% above the US average.
State and local tax burdens at the beginning of the decade, as measured by Washington, DC-based think tank Tax Foundation, had a strong negative relationship with population changes by the end of it. For every 1 percent higher the tax burden as a percentage of income in 2010, a state’s population was 1.4 percent smaller in 2019. In larger states, the 23 with populations higher than five million and more diversified economies, the correlation was a negative 2.4 percent.
Once again governor “what is fair, what is right” to whom?
if this jerk could figure out a way to tax you when you take a shit he would
Its his lie he can tell it anyway he wants.
I guess it just comes so easy.
He’s the reason why my family and I also want to leave this state