Wednesday, January 26, 2011

Chris, You Can Stop Spinning Now.

What's wrong with this picture.  I guess that's a loaded question, but I best get on topic.  No, this is not a young Rush Limbaugh (although there are similarities).  This is the Governor of the great State of New Jersey.  He doesn't have enough to do right now so he is encouraging (probably too nice a word) businesses to abandon Illinois for "business friendly" New Jersey in advertisements on Illinois radio.

The Tax Foundation reports New Jersey ranks 48th on the list of states with the best tax climate.  Illinois was 23rd, but with the recent tax increase has dropped to 36th. With a business tax rate of 9%, New Jersey does have 0.5% lower business taxes. However, the Tax Foundation also reports that New Jersey has the highest state/local tax burden in the nation.  In fact people who make more than $40,000 a year will pay higher income taxes in New Jersey than in Illinois. I guess Chris forgot to put this in is advertisements. 

I don't like paying more taxes, but those who live in glass houses....

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