What happened to New Jersey, the state where I used to play street hockey in the shadow of Giants Stadium? As Steven Malanga writes in City Journal: “Jersey is cratering”
For decades, New York City residents and firms, seeking a haven from high taxes and overregulation, fled to New Jersey, boosting the state’s population and its economy. But a steady diet of New York–like tax increases and business-toxic legislation has reversed that trend, sending residents and businesses rushing for the exits and putting Jersey’s economy into a tailspin.And here’s more on Governor Jon Corzine’s tax and tax some more policies in “The mob that whacked New Jersey”: “But today Jersey is a cautionary example of how to cripple a thriving state.” (HT: Free Republic)
4 comments:
Eric,
It was 6 years ago this week I evacuated New Jersey for good. My parents live in a nice house in South Jersey, built in 1946, worth about $160,000-$180,000. They pay over $7,500 a year in property taxes.
I live in a house on the outskirts of Albuquerque, New Mexico, built in late 2005, worth a bit north of $200,000. I pay $1,400 a year in taxes. Need I say more?
My wife and I have been in Jersey for 10 years. We like our town, the church we attend, and the school our kids go to.
We live in a townhouse. While we could readily afford a decent house here, we can’t deal with the $1,000 a month in property taxes. And no, we can’t write off additional property tax on our federal tax returns. We already have too many deductions so we have hit the AMT hard.
A few years ago we had hope for the state. Maybe the Republicans could come back, maybe the politicians would stand up to the courts and stop funneling all our tax money into the cities, perhaps they would actually look out for us instead of the public unions. Since the last election, we have abandoned all hope for this state. Things will only get worse for the foreseeable future.
I am in the process of accepting a new position in my company that would allow me to work just about anywhere in the U.S. If that works out, we will escape from Jersey this summer when the kids finish the school year.
Where we go depends partially on my wife’s job. Texas and the Carolinas are the front-runners. Pennsylvania, Florida, and New Hampshire are also possibilities.
My husband, children, and I will be moving out of this state, for good, in a few months. There is no way we could survive AND own a house at the same time. It is just not possible.
They sit there in Trenton and talk about raising taxes, but who the heck do they think it is going to effect? Do they really think people are going to stick around in a state that perpetually has its hands in our wallets grabbing for more money? They act like the federal government! Government can never do with less but we sure as heck as taxpayers can?
For so many years they have nattered on about lowering property taxes. But all we have gotten is rebates in time to get the witless clowns back into office. Who votes for these idiots? Not I.
My husband, children, and I will be moving out of this state, for good, in a few months. There is no way we could survive AND own a house at the same time. It is just not possible.
They sit there in Trenton and talk about raising taxes, but who the heck do they think it is going to effect? Do they really think people are going to stick around in a state that perpetually has its hands in our wallets grabbing for more money? They act like the federal government! Government can never do with less but we sure as heck as taxpayers can?
For so many years they have nattered on about lowering property taxes. But all we have gotten is rebates in time to get the witless clowns back into office. Who votes for these idiots? Not I.
Post a Comment