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Myth of Taxation

  You will not drive businesses out of NJ by modest raises in taxes.  Honestly, the one big selling point NJ has is that it is between Philadelphia and NYC and has one of the busiest, if not THE busiest, shipping ports in the country.  I don't care what taxes are, that isn't going to change.  Just like lowering taxes didn't pull companies in here by the droves, raising them will not drive them away.

  The same myth was thrown around when McGreevey's Millionaire Tax was implemented.  I'm sorry, but I haven't seen a caravan of millionaires leaving the state.  Why?  Location. Location. Location.

  The only way to balance a budget it to bring in more money and hold down expenses.  Holding down expenses will be tricky with the number of mandated expenses over which the state has little or not control.  However, the only way to boost tax revenues over the rate of growth is to raise taxes.

  Yeah, it could be raised high enough to totally destroy the economy.  However, a 10-15% hike spread over six years or so is not going to destroy the economy.

  Look at it this way - people and businesses are pouring across the Hudson to escape the cost of living and doing business in NYC.  Even at a 10%, our taxes are still a bargain for them.

XT

Christian Liberal is not an oxymoron.

by Xpatriated Texan on June 20 at 1:47 AM EST

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