No Tax Freedom For NJ!

Tax Freedom Day has already passed for most Americans – but not yet for overtaxed New Jerseyans.
For most taxpayers, it is past the date in which if all their wages earned this year went to local, state and federal governments, they would be off the hook for the rest of the year.
New Jerseyans, however, have to keep working until the end of the month to settle up with Uncle Sam and New Jersey’s own bearded tax man, Gov. Jon S. Corzine.
In fact, New Jersey residents work more days in the year just to pay their taxes than any other state except Connecticut.
Tax Freedom Day, calculated by the federal nonprofit Tax Foundation to illustrate the cost burden of government to individuals, occurred April 13 this year.
In his Special Report on Tax Freedom Day, Josh Barro, a Tax Foundation staff economist, wrote:
In 2009, Americans will pay more in taxes than they will spend on food, clothing and housing combined.
While tax revenues are falling, government expenditures are expected to explode in 2009, also driven in significant part by (federal stimulus funding). Tax Freedom Day, like almost all tax burden measures, ignores the current year’s deficits. If the projected deficit for 2009 were counted as a tax, Tax Freedom Day would arrive on May 29 instead of April 13 – the latest date ever for this deficit-inclusive measure.
But given the bevy of property, business and income tax increases related to Corzine’s proposed budget, New Jerseyans might have to wait until July next year.