NJ 'Misery Index' High

If misery loves company, then you must live in New Jersey. According to a new index unveiled Tuesday by the New Jersey Taxpayers Association (NJTA) New Jersey is the most miserable of states as it pertains to a rapidly growing tax burden and debt, runaway spending and soaring unemployment.

The group's new metric - the Misery Index - reveals New Jersey's misery has grown by nearly 25 percent since 2005, the year before Governor Corzine took office, while nearly doubling since 2001 - the year before Democrats took control of state government.

"We are deeply concerned with the lack of fiscal responsibility exhibited by our State government and are proud to stand up to forces that are clearly not working on behalf of the besieged and overburdened taxpayers whose interests continue to be trampled on," said Jerry Cantrell, President of the NJTA, a statewide grass roots organization dedicated to achieving real and sustainable tax reform, in a prepared statement.

While the results of the Misery Index come as no surprise to the average New Jersey taxpayer, it is, nonetheless, sobering and confirms what we already know - our misery has increased by leaps and bounds under the failed leadership of the Democrats, most notably Governor Jon Corzine. The last year under Republican rule - 2001 - the index stood at 96.2 percent.

By last year, the average New Jerseyan's suffering shot up to a staggering 166.9 percent! One of the culprits? As noted - taxes, taxes, and more taxes!

The Democrat-controlled Legislature has increased each of the big 3 revenue sources - Income, Sales and Corporation Business Taxes - at least once during its tenure and they aren't finished yet. The Income Tax is proposed to increase to 10.25% for those earning more than $500,000; The Sales Tax was increased from 6 to 7% in 2006 - that was their so-called Property Tax Relief and Reform Plan, and the 4% surcharge on the Corporation Business Tax (CBT) that was scheduled to sunset this year will be extended.

In addition, since January 2002, residents were subjected to 104 additional taxes and fees.