The progressive possibilities are endless – except of course cutting property taxes. They have not gotten around to that yet.
“The history of taxation in New Jersey it is not a pretty story. In 1966, we had the 3rd highest property taxes in the country, but NO sales or income taxes. Those days sure look good now.
Then Trenton told us a temporary 3% sales tax would cut property taxes. In 1971, that temporary sales tax became a permanent 5% sales tax! Now, at 7%, the sales tax is the highest in the nation and there has been no property tax relief.
In 1976, Trenton told us that a new 2.5% income tax would cut property taxes. (Notice a pattern here?). That income has steadily risen to the current 9% and property taxes are as high as ever.”
Thank you American’s For Prosperity for showing New Hampshire what a Democrat Legislature can do when it puts its mind to it.
By the way, the 1976 New Jersey income tax was to fund an education funding lawsuit. It was promised as the panacea which lower property taxes and bring “equity” to education spending – guaranteed!Sound familiar?