Cost of Government Day Finally Arrives in New Jersey

The following is cross-posted at www.fiscalaccountability.org

Today is the day on which New Jerseyians have finally paid off the burden imposed by state, local and federal spending and regulations. While the national average fell on August 12 in 2009, taxpayers in the Garden State had to work an astounding total of 249 days out of the year to pay for the cost of government. Only one state, Connecticut, has a later COGD than New Jersey.

New Jersey has tried to hide its overspending problem by constantly raising taxes on its citizens. However, taxpayers aren’t sticking around to have the state take all of their money – between 2003 and 2007 the Garden State lost over 260,000 residents who took their income and earning capacities with them.

The taxpayers that are left in New Jersey are forced to shoulder the burden imposed by the state’s unscrupulous spending. The state is the worst tax climate in the country, due in part to the budget passed this year that raises taxes on New Jerseyians by $1.5 billion. As taxpayers continue to flee the state in search of less hostile environments to raise their families and run their businesses, the Garden State would be well-advised to learn from its mistakes. However, if the state continues to spend beyond its means, it will eventually find itself without taxpayers to foot the bill.

photo credit: hydropeek

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