HEY NEW JERSEY! 12.2% OF WHAT YOU EARN TODAY IS GOING RIGHT INTO THE POCKETS OF LAWMAKERS

Date: January 20, 2016

HEY NEW JERSEY! 12.2% OF WHAT YOU EARN TODAY IS GOING RIGHT INTO THE POCKETS OF LAWMAKERS

TRENTON
(January 20, 2016): The National Federation of Independent Business (NFIB) is
reminding tax payers today that 12.2% of their earnings are ear marked for
state and local taxes, making New Jersey the third most burdensome tax state in
the country.

“It’s a sad day
when you look at tax burden rankings and are relieved that at least we aren’t
last,” according to Laurie Ehlbeck, NFIB New Jersey state director. “Every time
a study like this is released we are reminded that the tax burden in New Jersey
is overwhelming and worse yet, that lawmakers fail to do anything about it year
after year.”

Ehlbeck is
referring to today’s release of State-Local Tax Burden Rankings FY 2012 by the
Tax Foundation. According to their release, a state’s tax burden is the portion
of total state income that goes to state and local taxes. In order to determine
the rankings they included all taxes reported by the Census Bureau’s State and
Local Government Finance division including property, sales and income taxes,
among others.

“We have been
ranked in the bottom 3 nationally by this study for at least the past 3 years.
While other state lawmakers have had the foresight to drive economic
improvement through policy and legislative initiatives, our elected officials
in Trenton do nothing but shrug their shoulders and point the finger at one
another. There is a solution to the tax crisis that we are facing and it lies
in focusing on alleviating the tax burden we are faced with and making sound,
fiscally responsible, decisions at both the state and municipal levels,”
concluded Ehlbeck. 

Related Content: Small Business News | New Jersey

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