Governor Corzine cannot lead New Jersey out of tough economic times by raising taxes on New Jersey’s middle-class working families and struggling businesses.
At a time when our economy is hurting and families are losing their jobs, their homes and their savings, Corzine is proposing to increase taxes by $1.5 billion by raising property, income and business taxes.
The Corzine $1.5 billion tax hike plan:
- Raise property taxes $500 million by eliminating rebates for families earning over $75,000 a year,
- Raise income taxes for middle class families by elminating the property tax deduction from the NJ Income tax,
- Raise business taxes by $480 million by increasing payroll taxes and extending the corporate business-tax surcharge,
- Raise income taxes by $350 million on the top tier tax bracket,
- Increase taxes on cars, cigarettes, alcohol, and wine.
After seven years of tax increases (more than 100), a 50% increase in state spending, and a tripling of state debt, it’s time for all of us to draw a line in the sand and say “Enough!”
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