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I find this study's conclusions quite suspect. It doesn't consider the assets of the state at all in it's rating for fiscal health. We have the lowest gas tax in the nation, which could easily be raised by a penny or two and raise plenty of money towards infrastructure. We've got some of the highest income earners in the nation. We have assets such as the NJTP and GSP. It considers none of that. There seems to be an agenda behind the study...
The state has been circling the drain for some time now. At this point we can see the little whirlpool and the gurgling sound is getting louder as the last pieces of garbage are sucked into the underworld. This is the absolute worst state for businesses, hands down. It also has one of the highest if not the highest tax burdens in the country. You combine that with the state telling people who pay the most money in the country to live in what was once a nice community that they have to import the trash from other parts of the states and let them live there for free, and people with the means will just leave. Oh yeah, and crime is getting out of control with almost no penalties for violent crime and no way for decent people to defend themselves. You really can't run a state into the ground any harder than this. California eat your heart out.
can you name specific categories of crime that have increased in the past 10 years that concern you?
Miami- Corzine was the first Governor to make cuts to the pension.
I wouldn't start bragging about Corzine's handling of the pension though. I'm not going to blame him for the economy crashing the value, but given his background, you'd think he'd be able to give some advice on investments. Wait, I take that back knowing what we know today.
Yea, from some hack from Georgia State University. Is that still a commuter's college?
Just read the article, we are last because we have budget problems because we behind on pension contributions. So if we just cut pensions, we would be ok, right?
except it's not that easy to just cut pensions. yes, that is the main hit on our finances, and it's also not as difficult an issue as people make it out to be. And the states that have nothing really in their history are the ones who are fiscally healthy. Which is comical, because no one wants to live in those states. Move to North Dakota and try to afford rents or buying a home right now on a normal salary - it's impossible. What's going to happen there when the natural gas boom runs its course? People cannot even afford to open restaurants there because you can't find staff to work in the restaurants since you cannot live there on $10/hr right now.
We gave Panasonic $100M to move a few miles down the Turnpike. Those dang teachers made NJ do it!
And they pledged to create an ASTOUNDING 20 jobs a year. ALL HAIL THE JOB CREATORS!
Panasonic received a $102 million Urban Transit Hub tax credit in 2011 from the state while it explored moving from Secaucus to an out-of-state location. Among other conditions, the electronics giant pledged to create 200 new jobs over the next 10 years.
Jon Whiten, deputy director of New Jersey Policy Perspective, said, “We’re all for job creation and economic development, and we’re glad to see Panasonic stay in New Jersey, but we have to look at the costs as well. Was it worth $102 million in taxpayer dollars to simply move the company’s 800 jobs 10 miles down the road?”
Jeff Tittel, president of the New Jersey Sierra Club, said state incentive programs don’t create jobs, they “just enrich developers and corporations at the expense of taxpayers.”
i agree with the general point you're making, but it technically doesn't cost us $102M, if the assumption is that they're not here without it.
I would never-ever give away taxpayer money to any successful business. You can argue the metrics of what constitutes "successful" - earnings, stock price, whatever. I'm against it. If every business threatened to move we'd be giving away the farm to them all. What happened to the Magic of the Free Market? The state hardly ever recoups its $ when these deals are cut. It would be like trying to bribe residents to stay in NJ to keep up our tax revenues...in fact that would make MORE SENSE.
And a condition of creating just 20 jobs/year to a multi-national corporation? The state HAS to be kidding, right?
As of 31 March 2012 Panasonic employed around 330,000 staff and had around 580 subsidiary companies.[30] Panasonic had total revenues of ¥7,846,216 million in 2012, of which 53% were generated in Japan, 25% in Asia ex. Japan, 12% in the Americas and 10% in Europe.[30]
I also would not be giving sports franchises freebies to keep them here.
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The state hardly ever recoups its $ when these deals are cut. It would be like trying to bribe residents to stay in NJ to keep up our tax revenues...in fact that would make MORE SENSE.
