beech_35

What Went Wrong with California, New York, and New Jersey?

> Seven of the 10 highest property tax counties in America are located in New Jersey.

I used to live in one of them. $12,000 a year in property taxes alone. Some of my neighbors paid much more, up to $17,000 a year on a four bedroom home. Not a palace or anything. Several counties away another friend pays $77,000 (Summit). No, he's not a millionaire or anything. Yes that's only property taxes. Yes, I know you don't believe it.

Nearly ALL of my business clients have left NJ over the past 20 years or so, gone to other states, to Brazil or China, or just gone, leaving McDonald's and a few extremely high-profit pharmaceutical companies who make drugs for people who eat too much McDonald's. NJ's tax treatment of its citizens is bad enough but their business policies are worse. It imposes regulations on every conceivable activity. The state has driven business out while it treats its taxpayers like ATMs. California has gotten the spotlight recently, but NJ is close behind. It's a completely out of control government run amok. The residents who haven't fled the state have been caught sleeping.

New Jersey passed a law in 2005 that imposed a punitive capital gains tax on residents who sold their home without buying another in NJ. Despite that NJ has had a net loss of residents in recent years. Get out before they build a wall.