More taxes, higher taxes, it’s all New Jersey taxes
As I’ve mentioned, it won’t get me installanches, but still, I slog along.
DynamoBuzz posts on Gas Tax Shenanigans in New Jersey and sees rough roads ahead:
The main problem is that the money raised by the gas tax is supposed to be dedicated to capital road improvement projects. In a little known fact, there is no such thing as a dedicated tax in New Jersey, so once the money goes to Trenton it can be used for anything. Like the millionaire’s tax that was “dedicated” to property tax relief. Past administrations, both democrat and republican, have shifted salaries and operating expenses to the trust fund. Then, in order to actually do stuff like build roads and make repairs, the state has floated bonds. Now, the fund is on the hook for over $6 billion in borrowing. Based on the interest and principal payments due in 2006, all of the money collected through the gas tax will do to debt payments.
A huge problem is that most federal highway grants are “matching” grants, meaning if the state puts up a couple of million bucks for a road project, the federal grant will match it dollar for dollar. No state money, no federal grants.
DynamoBuzz posts that NJ the #1 tax-increasing state, as you can read in this Americans for Tax Reform report, subtitled “Abnormal Level of Tax Increases Demosntrates This Was About Funding Special Interests.
Enlighten NJ realizes that The Demands of Special Interests Are Never ‘Quenched’
The average New Jersey voter seems oblivious to the cause of the state’s financial mess, Democrats catering to special interests. How many know that only about 12 percent or $3.4 billion of New Jersey’s $27.9 billion budget is spent to run the state; providing common services such as highway maintenance, state police, courts and operating the state’s sixteen departments? How many know the remaining $24.5 billion is spent ‘solving problems’ by transferring money from taxpayers to tax receivers?
How many know? From the looks of it, not enough. That’s why I blog about it.
(technorati tag nj taxes)