New Jersey is FIRST – worst state for businesses

Jon Corzine is so out of touch with the working class that he refuses to do anything to promote jobs in New Jersey. Jersey once again topped the wrong list, worst state in the union for business.

New Jersey’s corporate income tax is an impediment to business because of its low threshold — $100,000 — and because the state doesn’t index corporate brackets for inflation, according to the study.

New Jersey was also among states that enacted “disproportionately high” tax rates on personal income, the study found.

Property taxes also pulled down the rankings of New Jersey and New York. Residents of New York’s Westchester and Nassau counties, outside New York City, paid the highest property tax bills in 2008, a separate study by the Heritage Foundation, released today, showed. New Jersey’s Hunterdon and Bergen counties were next.

Jon Corzine effectively is saying “tax the hell out of business” because he is a millionaire and does not need a job.  Well, maybe after Novememer he will. Corzine claims to be trying to bring business to the state, but he lies. it is a blatant, bald-faced lie.  If Corzine really wanted to lure business to the state, he would do what Delaware did. No corporate taxes. Look at how well Delaware is doing, luring many Jerseyites to the state for employment.

It is a shame that too many people in New jersey are forced to travel out of state to work. And the blame lies squarely ion Corzine for refusing to take any action whatsoever to reduce the tax burdens on business, whether large or small.

Corzine failed to do anything to alleviate property taxes. His actions served only to increase property taxes while hitting businesses as well as consumers with an increased sales tax, increased fees on everything and increased tolls.

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