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So what does the new Governor propose? Why of course, more spending and more taxing.
https://fee.org/articles/new-jerseys-fiscal-train-wreck/
"a bit more than five decades in the past. New Jersey used to have no state income tax and no state sales tax......
New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and Internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit. …Murphy, a Democrat…has promised additional spending on underfunded schools and transportation in a credit-battered state with an estimated $8.7 billion structural deficit for the fiscal year that starts July 1. …Murphy said Tuesday in his budget address to lawmakers, “A millionaire’s tax is the right thing to do—and now is the time to do it.” …The budget…would…restore the state’s sales tax to 7 percent from 6.625 percent… Murphy’s proposal would almost triple the direct state subsidy for New Jersey Transit, which has been plagued by safety and financial issues.
More taxes, more spending, followed by even more taxes and more spending."
I know that almost nobody I know plans to retire in NJ !
https://fee.org/articles/new-jerseys-fiscal-train-wreck/
"a bit more than five decades in the past. New Jersey used to have no state income tax and no state sales tax......
New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and Internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit. …Murphy, a Democrat…has promised additional spending on underfunded schools and transportation in a credit-battered state with an estimated $8.7 billion structural deficit for the fiscal year that starts July 1. …Murphy said Tuesday in his budget address to lawmakers, “A millionaire’s tax is the right thing to do—and now is the time to do it.” …The budget…would…restore the state’s sales tax to 7 percent from 6.625 percent… Murphy’s proposal would almost triple the direct state subsidy for New Jersey Transit, which has been plagued by safety and financial issues.
More taxes, more spending, followed by even more taxes and more spending."
I know that almost nobody I know plans to retire in NJ !