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Sunday, February 13, 2011
A Taxing Situation
I read a news report the other day that said that New Jersey was the most heavily taxed state in the nation. I can believe it, as I look at my property tax bills, the 7 % sales tax that apply to most of my purchases, and my New Jersey Income Tax obligation that comes due shortly. Equally high insurance rates exasperate the problem. Just how did we get into such a mess?
It's hard to believe but, at one time, there were no taxes for New Jersey residents for State expenses other than running the local schools. The State was run on taxes paid by the railroads and other corporations.
Where's a time machine when you need one?