I could have skipped the Somerset County Business Partnership forum at Raritan Valley Community College Friday morning, because I was under the weather and felt more like remaining snuggly covered under the blankets.
But the topic was “Making New Jersey More Affordable for Businesses and Residents: a Public Policy Forum,” and I was determined to get a first hand impression of what the panelists and gubernatorial candidates had to say. Gubernatorial challengers Daggett and Christie were present and offered their views on NJ’s tax mess.
Incumbent Governor John Corzine decided to take a pass and to ignore the people of northern Somerset County.
Well, it was enough to make me even sicker, because it confirmed what I already knew, but about which I obtained a lot more detailed confirmation. Forum speakers and audience questioners emphasized the fact that the negative impact of New Jersey’s tax structure at all levels of government is totally unsustainable:
The crushing debt burden from ill-advised government borrowing; increased deficit spending; and unfunded liabilities for public sector pensions and benefits (said to be from $100 billion to $130 billion) has resulted in a stifling level of taxation, especially for property taxes.
I could go down a list of all the winners and losers in this NJ public spending drama, but it would be wasting your reading time. You know most of them but, if you are serious about learning even more, check out the home page at http://www.mycentraljersey.com/, and click on the “Tax Series Tab” in the carousel. You’ll be amazed at the first-rate job that Courier News journalists did in covering Friday morning’s forum.
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