"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Monday, October 23, 2006

NJ Election 2006 – Taxes and The U.S. Economy

The editors of the Star-Ledger in their article, The best choices in the House races”, tell us that: “Taxes and the economy are a major focus of the campaign in the 7th District”. Why just the 7th remains unclear. We believe most voters in New Jersey are focused on those issues, although little ink has been spilled by the state’s largest paper on the facts surrounding federal taxes and the U.S. economy.

We believe most voters favor keeping the U.S. economy growing as it has for the past 19 consecutive quarters since the “Bush tax cuts” were enacted. These tax cuts have facilitated a growing economy, low unemployment, federal tax revenues at record levels, the stock market hitting all-time highs, as well as, a shrinking U.S. budget deficit. Not to mention the side benefit of saving every New Jersey taxpayer money (see chart below).

Given the choice between a candidate who favors retaining the “Bush tax cuts” and one who favors repealing them, it seems an obvious choice in the 7th. Vote for Congressman Mike Ferguson. The Star-Ledger explains, “Ferguson is an enthusiastic booster of President Bush's tax policy and the effort to make his cuts permanent”. But, the Star-Ledger has endorsed Linda Stender because she favors repealing most tax cuts and therefore, the editors conclude, “Stender should represent the people of the 7th District”.

Here’s how the Star-Ledger described Stender’s position and record earlier this month “She wants to repeal most of the Bush tax cuts” and “she's been party to the mess Democrats have made in Trenton, supporting all the spending and tax increases since her election in 2001.” Wow, voters should be rushing to the polls to elect Stender. We’ll see.

The Ledger uses the same “logic” for their endorsement in New Jersey’s 5th Congressional District. They describe Congressman Scott Garrett as ”a traditional conservative who can also be stubbornly independent of his party”, but endorses Paul Aronsohn because he “opposes making permanent the Bush tax cuts”.

As the facts clearly show, the “Bush tax cuts” have increased the federal tax burden on “the rich”, tripled corporate tax revenue, and now the U.S. Treasury is raking in record amounts of tax receipts. The budget deficit has been cut in half since the recession of 2001and taxed-to-death New Jersey taxpayers have been able to keep more of their own money. We’d call those accomplishments. (See charts below)

The notion that increasing taxes would not adversely affect the U.S. economy defies economic logic. Governor Jon Corzine, hardly one to shy away from tax increases, has been fending off his own party’s calls for raising New Jersey’s income and business taxes because he recognizes the negative impact these increases would have on the state’s economy and treasury.

Government can create tax polices that either hinder or enable economic growth, but it can not create wealth, it can only take it away. We the people grow the economy though our investment and hard work, not the government or politicians. The “Bush tax cuts” produced an environment conducive to higher levels of investment, entrepreneurship, productivity and the creation of new jobs. The American people responded and produced.

Tax increases on work and investment, as the Democrats endorsed advocate and the Ledger applauds, would have the opposite effect. It shouldn’t come as news to anyone that if you tax something you get less of it – think of the so-called sin and carbon taxes.

The Ledger and the other usual suspects have yet to explain how raising federal taxes would benefit the people of New Jersey. Fewer dollars in the wallets of New Jersey taxpayers is not a boon to anyone in the state – from the richest to the poorest.

The state of New Jersey receives the lowest percentage of federal funds for every dollar our taxpayers send to Washington because we are “the richest” state in the Union. Just as the wealthier communities in New Jersey receive the least amount of municipal and school aid from the state, so it goes with federal aid to New Jersey. No matter the tax rates, no matter who controls the Congress or White House, as long as the state has a higher average income than the rest of the states, it will remain that way.

New Jerseyans don’t pay enough in taxes – federal, state and local? Give us break. We’ve lost all hope on the editors of the Star-ledger, but you can send a message this November 7th. Send the tax increasing politicians packing.

Tax Savings For Every New Jersey Taxpayer

Increased Tax Burden On Wealthiest Americans

Federal Corporate Tax Revenue Has Tripled

Record Levels of Federal Tax Revenue


At 9:55 AM, Anonymous Gorden said...

It will not succeed in reality, that's exactly what I think.


Post a Comment

<< Home

 Contact Us

  • Email Us
  • Blog Roll Us!



  • Atom Feed
  • Bloglines
  • Feedburner
  • Feedster
  • Add to Google
  • Add to My MSN
  • Add to My Yahoo
  • News Is Free

    Recent Posts

  • Google Bombing The Election
  • Menendez Mendacity Continues and the AP Spins
  • False and Fabricated
  • New York Times Falls For Menendez Mendacity
  • Mike Ferguson Vs. Linda Stender – October Outlook
  • Politicos
  • Impersonating A New Jersey Congressman
  • The Seamstress
  • I Can Only Imagine
  • Crunch Time on Property Taxes


  • November 2004
  • December 2004
  • January 2005
  • February 2005
  • March 2005
  • April 2005
  • May 2005
  • June 2005
  • July 2005
  • August 2005
  • September 2005
  • October 2005
  • November 2005
  • December 2005
  • January 2006
  • February 2006
  • March 2006
  • April 2006
  • May 2006
  • June 2006
  • July 2006
  • August 2006
  • September 2006
  • October 2006
  • November 2006
  • December 2006
  • January 2007
  • February 2007
  • March 2007
  • April 2007
  • May 2007
  • June 2007
  • August 2007
  • September 2007
  • October 2007
  • November 2007
  • December 2007
  • January 2008
  • February 2008
  • April 2008
  • November 2008
  • January 2009
  • August 2009
  • September 2009
  • February 2012

    Online Journals

  • National Review

  • Opinion Journal

  • Real Clear Politics

  • Weekly Standard

  • Blog Roll

  • A Blog For All
  • Althouse
  • Ankle Biting Pundits
  • Barista of Bloomfield Avenue
  • Betsy's Page
  • Blue Crab Boulevard
  • Blogs For Condi
  • Bob the Corgi
  • Brainster's Blog
  • BuzzMachine
  • Captain's Quarter's
  • Cinnaman
  • Coalition of the Swilling
  • CWA-NJ
  • Dino's Forum
  • Daily Mail
  • Don Surber
  • DynamoBuzz
  • eCache
  • Exit 4
  • Fausta's Blog
  • GOP Bloggers
  • Instapundit
  • Joe's Journal
  • Kate Spot
  • Kausfiles.com
  • Little Green Footballs
  • Michelle Malkin
  • More Mnmouth Musings
  • Parkway Rest Stop
  • Patrick Ruffini
  • Polipundit
  • Power Line
  • Right Wing News
  • Roger L. Simon
  • The Blue State Conservatives
  • Riehl World View
  • Red Jersey
  • Right, Wing-Nut!
  • Sid in the City
  • Tiger Hawk
  • The Truth Laid Bear
  • Tim Blair
  • Wizbang

  • Sid in the City

    Majority Accountability Project


    New Jersey Blogs


  • 11th and Washington

  • A Blog For All
  • A Planet Where Apes Evolved From Man?!?
  • Armies of Liberation
  • Atlantic Highland Muse
  • Attack of the 15.24 Mete

  • Barista of Bloomfield Avenue
  • BeLow Me
  • Big Windbag
  • Blanton's and Ashton's
  • Blue State Conservatives
  • Burning Feathers
  • BuzzMachine

  • Clifton Blogs
  • Coalition of the Swilling
  • Cobweb Studios
  • CoffeeGrounds
  • Constitutional Conservative
  • Confessions of a Jersey Goddess
  • Corzine Watch
  • Crazy Jackie
  • Cresting Acrocorinthus
  • Cripes, Suzette!

  • Daniella's Misadventures
  • Did I Say That Out Loud
  • Dojo Mojo
  • Dossy's Blog
  • Down the Shore
  • DynamoBuzz

  • eCache
  • Enlighten-NewJersey
  • Eye On Hoboken
  • Exit 4
  • Exit Zero
  • Extreme-Psychosis

  • Fausta's Blog
  • Fausti's Book Quest
  • Fractals of Change
  • Frenchtown NJ Blog

  • GiggleChick
  • Gregg Gethard's Amazing Personal Journey
  • goethe re scape

  • Hoboken Rock City

  • IamBillPower
  • If this is paradise, I wish I had a lawn-mower
  • Imaginary Therapy
  • Inadmissible Evidence

  • Jersey Beat
  • Jersey Perspective
  • Jersey Side
  • Jersey Style
  • Jersey Writers
  • Joe's Journal

  • Karl's Corner
  • Kate Spot

  • Laughing At The Pieces
  • Likelihood of Confusion
  • Liss Is More

  • Mamacita
  • Mary's Lame Attempt at Fame
  • Media in Trouble
  • Michael Carroll
  • Mister Snitch!
  • MucknMire
  • My Life as a Rabid Blog
  • My New Jersey

  • New Jersey Eminent Domain Law
  • NJ Conservative
  • NJ Fiscal Folly
  • New Jersey For Change
  • New Jersey Weblogs
  • NJ Spoken Word
  • Northeast Corridor

  • Parkway Rest Stop
  • Philly2Hoboken.com
  • Poetic Leanings
  • Poor Impulse Control
  • Professor Kim's News Notes
  • Property Tax NJ

  • Rain Angel
  • Riehl World View

  • Shamrocketship
  • Shipwrecks
  • SloppyDawg
  • Sluggo Needs a Nap
  • SmadaNeK
  • Static Silence

  • Tami,The One True
  • Tammany on the Hudson
  • Tequila Shots For The Soul
  • The Art of Getting By
  • The Center of New Jersey Life
  • The Daily Fry
  • The Duc Pond
  • The Jersey Shore Real Estate Bubble
  • The Joy of Soup
  • The Mark(ings) of Zorro
  • The New Wisdom
  • The Nightfly
  • The Opinion Mill
  • The Pink Panther
  • The Political Dogs
  • The Rix Mix
  • This Full House
  • Tiger Hawk
  • Tomato Nation
  • Toxiclabrat
  • Twisty

  • Unbillable Hours
  • Usdin.Net

  • Where Is The Remote
  • Wine Goddess

  • Xpatriated Texan

  • Links

  • NJ Governor
  • NJ Legislature
  • Bob Menendez Information

  • Blog Rings

  • Blog Explosion
  • Blog Directory
  • Blogsnow
  • Blogwise
  • Blogstreet
  • Blogshares
  • Blogarama
  • Blog Digger
  • Daypop
  • Globe of Blogs
  • Blog Search Engine

  • Ecosystem Status

  • Who Links Here