If you haven't read it in the news, we New Jerseyan's are in dire straits. Yes, our government has shut down. It seems while most states are celebrating banner tax revenues, the state with one of he Nation's highest tax rates, the state that has consistently raised taxes every year, is shut down ... because of a fight between a Democrat Governor Corzine and a Democrat controlled Legislature over, not if, but how to raise taxes next.
That's right - government is at a stand still because they can't agree on how to take more money from the taxpayers in an overtaxed state, one already suffering from its taxation policy.
The real New Jersey story is that a rising cost of living and taxes have spurred an exodus of businesses, high net worth individuals and working families. U.S. Census Bureau data indicate that, in 2004 alone, 60,000 more people left New Jersey than moved in. This out-migration led to a loss of $1 billion per year in the state's personal income, according to IRS statistics analyzed by the Manhattan Institute.
And what is it that makes the headlines in this fair state when the government shuts down? I had to check because, honestly, it's had no real impact on my life whatsoever.
Well, the news is buzzing about ... the casino industry, the lottery commission and the race tracks. How ironic that when NJ Government shuts down, the first industries hit are those which were once most associated with the Mob, now become the province of government, ay? That alone tells you about all you need to know about NJ government.
The head of the Casino Control Commission ordered gaming in Atlantic City to cease at 8 a.m. Wednesday ... A state appellate panel on Sunday ordered horse tracks closed at the end of business Tuesday....Some lottery sellers - and many customers - were surprised to learn that the games were being put on hold until the budget impasse is resolved.
The saddest thing is that we won't treat NJ Government like we would any regular business ... they are out of money, bankrupt, if you will, oh well. Time to close their doors and let some other more efficient model take it's place. One can hope ... you just can't bet on horses, play the numbers, or shoot dice until the NJ government figures out how it will gouge the taxpayers next.
God, I can't can't wait to retire and leave this blue Blue state.
On one side Corzine holding steadfastly to raising the sales tax 16%. On the other side, Joe Roberts et al. who are trying to raise every other tax so they can raise the sales tax later this summer and call it property tax reform.
The rest of us sit and watch how they will take our money.
Posted by: Bob | Monday, July 03, 2006 at 08:53 PM