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New Jersey Has The Highest Taxpayer Debt Burden in the Country

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the staff of the Ridgewood blog

Ridgewood NJ, New Jersey has amassed a whopping $189.6 billion in state debt, a total that equals $57,900 for each taxpayer in the state. It’s the highest taxpayer debt burden in the country, according to the Financial State of the States report released Tuesday by the watchdog group Truth in Accounting.

Continue reading New Jersey Has The Highest Taxpayer Debt Burden in the Country

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Reader says ,”There will be no more “rich” to tax once all the rich have left”

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Ridgewood NJ, news reports indicate that Phil Simms and Jon Bon Jovi are selling their high-priced, high-taxed New Jersey homes, possibly at deep-discounts.

a reader states the obvious ,”There will be no more “rich” to tax once all the rich have left. The “rich” can take the hit on their mansions in NJ and CT and make the difference up very quickly by moving to FL and paying a fraction of the taxes there. The dems and progs just don’t get this very simple concept.”

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Reader says If New Jersey were a corporation it would have declared bankruptcy years ago

tr0601harris 9 KURDZUK

If New Jersey were a corporation it would have declared bankruptcy years ago. Murphy want to “tax the rich” to raise only a fraction of what the state needs to meet its obligations. The Republican tax plan beats him to the punch by removing the deduction for state and local taxes which are already unsustainably high. Things will only get worse as the wealthiest individuals start to leave the state in greater numbers and the mess will be left to the middle class to clean up.
So, about those union pension payments, can we cut a deal on them now or would you rather we default on them later?