Tax Freedom Day Is Here for New Jersey

Tax Freedom Day Is Here for New Jersey
May 4,2013
AFP

Ridgewood NJ, Tax Freedom Day has finally arrived in New Jersey! Yet, it’s not really cause for celebration, is it? After all, New Jerseyans like you and me are now working more than a third of the year just to pay our tax bill at all levels of government!

Tax Foundation economist Kyle Pomereau put the tax burden into stark perspective. Kyle noted that “we will be paying more in taxes than we pay for food, clothing and housing combined.”

Think about that for a second. The levels of government taxation are exceeding the cost of living—of paying for the bare essentials in life.

Fun Facts : New Jersey taxpayers have to work 124 days of the year, until May 4, just to pay our entire federal, state and local taxes. Our state now has the second highest tax burden of any state in the country.

New Jersey lags behind economically with a 9% unemployment rate, the highest in the region.

Since 2000 property taxes have shot up some 75%. Income taxes are up. The sales tax has gone up. Spending has gone up over 60% and our state debt has more than doubled.

New Jerseyan are witnessing an erosion of economic freedom that means having to work longer and harder just to make ends meet. It means less money in our pockets to save for our golden years or to put money away for our kid’s education. More than that, it means having to give up that night out to dinner, trip to a ball game or summer vacation—costing us precious time with our family and loved ones.

The tax-and-spend model has driven New Jersey to the brink. It’s time to rein in Trenton and free hard-working New Jerseyans from the shackles of Big Government in order to bring economic prosperity back to the Garden State!