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Overnight Open Thread

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lawhawk6/25/2010 8:11:44 am PDT

re: #312 Aceofwhat?

Property taxes are the bane of our existence in NJ. In the 70s, the state decided to impose a personal income tax to alleviate the property tax burden.

Now, we’ve got both - and property taxes continue rising. Then, they had the brilliant idea of using a sales tax hike to pay for property tax relief in the form of rebates.

Oh, and then when sales tax revenue dropped off a cliff, they eliminated the rebates in most instances, but kept the sales tax hike. Then, Trenton decided to impose a temporary surtax on millionaires (but which actually hit those with income as low as $500k), to make budget - but when that temporary surtax expired, the Democrats demanded that it be extended to pay for the expenditures.

It’s no wonder that people around NJ are fed up with taxes.