The Truth about New Jersey’s High Tax Burden
Part IV of the Legal Corruption Series
New Jersey is in a bad way. Our economy is weak and significantly underperforms other states. Our tax system is consistently ranked as the worst in the nation. Our public-sector pensions are in the worst condition of any state, and our unfunded liabilities are at least $202 billion—almost six times the size of the $35 billion annual budget. We have the second-lowest bond rating of any state—save broke Illinois. Businesses, taxpayers, and young adults are leaving our state in droves. Sadly, New Jersey’s future looks even worse.