News from |
John Amodeo and Vince Polistina |
New Jersey General Assembly, District
2 |
FOR IMMEDIATE
RELEASE
Contact: John
Amodeo or Vince Polistina at 609-677-8266
August 13,
2008
NEW JERSEY’S FIRST PLACE FINISH IS NOT A MEDAL
WINNER
NORTHFIELD – For the third
consecutive year, New Jersey ranked first in the
nation with the highest tax burden. New Jersey
residents spend 11.8% of their income for state
and local taxes, according to the Tax Foundation
in its newly released annual report.
“Government is just making it harder for
families to make ends meet,” said Assemblyman
Amodeo. “It is a sin that in the last three
years, state government has been unable to make
New Jersey more affordable because of fiscal
mismanagement.”
“When you ask yourself where did all the jobs in
this state go, why don’t young people move back
to New Jersey after college, or why are we
seeing more empty store fronts, this report sums
up the answer – our taxes are too high,”
Assemblyman Vince Polistina. “The most
dangerous opinion to have when government
increases a tax or creates a new fee or floats
another bond is that someone else has to pay
it. Wrong. As this study shows, we all pay for
it in the end.”
The report noted that
“in any state where the residents bear a tax
burden dramatically higher than in similar,
nearby states, the population of resident
business and individual taxpayers in that
high-tax state is likely to shrink. Even modest
tax differentials cause outmigration according
to many studies.” The assemblymen noted this
observation concurs with an earlier report by
Rutgers University that New Jersey residents are
moving to states with lower tax burdens.
“If the consequences of higher taxes
are so clear to unbiased experts, why can’t the
governor and the legislative leadership see
it?” said Amodeo. “High taxes cause ‘Wallet
Drain,’ ‘Brian Drain,’ and ‘Job Drain.’”
“New Jersey has not passed a
fiscally responsible budget in seven years,”
said Polistina. “Every year, we are told ‘Just
pass this tax increase and our budget problems
will go away.’ And every year our budget
problems return because state keeps borrowing
more money or refuses cut political patronage
positions or halt run away spending in Abbott
districts. We need real fiscal reform.”
Amodeo and Polistina reiterated
their support for sustainable budget savings and
their willingness to work in a bi-partisan
fashion to get results.
“If other states can pass taxpayers
budget, then so can New Jersey,” said Polistina.
The Tax Foundation’s report is
posted at
http://www.taxfoundation.org/files/sr163.pdf.
The report “Where Have All The Dollars Gone?” by
Rutgers University is available at
http://policy.rutgers.edu/reports/rrr/rrroct07.pdf
.