Corzine goes after small business owners for more tax revenue

Obama hits “the rich” and now Corzine is following lead. Unfortunately, while $250,000 a year isn’t exactly chump change, the danger is that we will hit small businesses in the wallet and lose jobs.  No a smart move.

It could be a double whammy for some New Jersey residents: higher taxes from the federal government and a surcharge from the governor. Garden State residents making $250,000 or more annually could not only be paying the federal government more in taxes, they could also be hit with a 5 percent surcharge by the state under Democratic Gov. Jon Corzine’s budget proposal.

Joseph Caruso, a businessman running for state office as a Republican, says those earning $250,000 or more are small business owners.

“If anyone thinks those people aren’t going to look to move out of the state and they’ll lose all tax revenue or they’re going to cut back on their business, cut back on jobs, and it’s going to be all New Jerseyans that suffer,” he says.

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