The crisis facing New Jersey’s economy is severe and results from three continuing deteriorating conditions. The Transportation Trust Fund is broke, resulting in the suspension of projects needed to prevent the total deterioration of New Jersey’s road and bridge infrastructure. The income tax structure is a factor causing middle class senior citizen retirees to depart for the income tax-free state of Florida, thus diminishing New Jersey’s retail consumer base. Finally, the state’s high estate tax is causing the Garden State to hemorrhage wealth, as affluent taxpayers leave, eviscerating the state’s income tax base. Alan Steinberg, PolitickerNJ Read more
