Reasons I Don't Live In New Jersey, Part 441

The Lord of Truth sent me this story last week, which explains why he's planning on leaving New Jersey in the future...

Expand the sales tax to include clothes and online purchases. Tax 401(k) retirement accounts. Raise the gas tax. Consider a temporary increase in the state income tax.

With New Jersey's finances "perilously close to ruin," Gov. Corzine's budget advisers have recommended these unpopular solutions and more to fill what they estimate to be a $6 billion hole in the state's budget.

The grim transition report advises the Wall Street financier-turned-governor to immediately prepare plans to lay off state workers and cut government services. It also suggests that Corzine develop ways to control skyrocketing costs for pensions and schools - including raising the state's retirement age and revisiting funding for needy Abbott school districts.

While lawmakers are fond of blaming the opposing party for the condition of the state's $28 billion budget, they universally condemned the solutions the Corzine advisers outlined.

Senate President Richard J. Codey, who as governor cut property-tax rebates but rejected suggestions to expand the sales tax and tax 401(k) accounts, said the recommendations were politically impossible.

"Now, if we do all that, who would that leave that wouldn't be pissed off at us?" the Essex County Democrat asked.

Republicans were no kinder. State Sen. Diane Allen (R., Burlington) said she hoped Corzine would "take parts of the report and throw them away," while Senate Minority Leader Leonard Lance (R., Hunterdon) said spending must be cut before tax-increase proposals would be entertained.

"New Jersey is at a tipping point," Lance said, noting that residents are already burdened with heavy property, business and income taxes. "Our residents are moving to Pennsylvania and beyond, and new taxes would exacerbate an already difficult situation."

Taxing your 401(k) account. The mere fact that they would consider this idea at the state level is disgusting beyond belief. Maybe people in New Jersey should just send their paychecks to Trenton and let state legislators send them the money the state thinks they need.