The NJ Tax Blog

"When Barack Obama makes his New Year's resolutions, at the top of his list ought to be the following: 'I will not allow America to become New Jersey.' Think of it as our [New Jersey's] gift to the nation." These are the words spoken in an editorial in today's Wall Street Journal in an article titled "New Jersey is the Perfect Bad Example, Obama should look here to see what high taxes do." As stated by the author, New Jersey, according to the Tax Foundation, has the most hostile business environment in the country. Moreover, as realized by the author, "Over the long run, the only way to have a healthy and growing economy is to do exactly what New Jersey has not: Trust the people with their own money, and create an environment where initiative and enterprise are rewarded rather than penalized. Absent a thorough-going revolution in Trenton, New Jersey may be lost for some time to come. But if Mr. Obama can learn from our bad example and do the opposite, New Jersey's loss might yet be America's gain." I fully agree with the author and can only pray that the New Jersey Legislature will one day realize the wisdom that resonates from the author’s words.

To read the full article by the Wall Street Journal click the words Property Tax.