Thursday, July 12, 2007

NEW JERSEY - A NICE PLACE TO VISIT, BUT WHO WOULD WANT TO LIVE HERE!

Here are some basic facts on New Jersey’s tax system and how it compares to other states from the Tax Foundation:

· New Jersey taxpayers had to work until May 10, 2007 to pay their total tax bill, ranking them 3rd highest in the nation.

· New Jersey's state/local tax burden percentage ranks 10th highest nationally.

· New Jersey ranks 48th in the Tax Foundation's State Business Tax Climate Index.

· Among states levying personal income taxes, New Jersey's top rate ranks 6th highest nationally.

· Among states levying corporate income taxes, New Jersey's top tax rate ranks 7th highest nationally.

· New Jersey sales taxes among highest in nation; the cigarette tax is the nation's highest.

· New Jersey property taxes = highest per capita in the nation.

· New Jersey taxpayers receive less federal funding per dollar of federal taxes paid than any other state.

These facts should not come as a surprise to those of us who live in the Garden State. Why do we live here? Hey, I didn’t chose to - I was born here. You can be sure that as soon as my parents go to their final audit I will be moving to Pennsylvania!

To be fair to NJ, we have a very low gas tax. And I can be in midtown Manhattan in less than an hour for only $2.00!

TTFN

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