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NJ’s Higher Taxes Lead to Loss of $70B of Wealth
Wow! Another study that illustrates how taxes and economic growth are closely related. According to a recent NJ.com story that references a Boston College study, NJ lost $70B of wealth due to the state’s tax structure and increases in income, sales, property, and “millionaire” taxes.
More taxes vs more jobs? If we want to increase jobs and spur on economic growth, it’s time to cut taxes.