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Chris Wysocki
Caldwell, NJ
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Hey! I've moved to He's Pretty Fly For A Jersey Guy.
Please update your bookmarks. Thanks!
Tuesday, 03 November 2015
We're #2! Again! New Jersey has the second highest tax burden in the nation
Second only to New York, the Garden State's tax burden almost reigns supreme.
New Jerseyans already know it to be true, but a Forbes analysis of state-by-state tax burdens places the Garden State near the top of its "Worst States for Taxes" list.
New Jersey lands in second place, behind New York, in the comparison of state and local taxes.
Connecticut, California, Wisconsin, Minnesota, Maryland, Rhode Island, Vermont and Pennsylvania round out the top 10, according to the Forbes report.
Notice anything remarkable about that Top Ten list?
Yup, they're "blue" states. Run by progressive Democrats. Imagine that!
The analysis compares local taxes and the effective tax rate for single people with $50,000 in reportable income, a figure Forbes said it based on the $53,046 median U.S. Household income from 2009 to 2013.
In New Jersey, which has one of the most progressive tax structures in the country, that income tax rate is 2.54 percent, which Forbes combined with local taxes to establish a 12.3 percent state and local tax burden.
So, how do we do it?
Crushing property taxes! We are the 0.2 percent!!!
While the report doesn't specify which local taxes are included (some states have local income taxes or local sales taxes), presumably New Jersey's steep property taxes had a hand in the state's ranking. Last year, the average property tax bill here was $8,161, while nationally only 0.2 percent of U.S. homeowners paid more than $8,000.
C'mon NJ Democrats, you know you want us to be Number 1. Raise that gas tax! We can't let New York have all the fun, can we?
Oh, and if anyone wants to know why Chris Christie's presidential campaign is
languishing in the doldrums, well this, this is why. Remember when he promised
to "do something" about NJ's onerous tax burden? Yeah, me neither.
Posted at 12:20 by Chris Wysocki
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