April 4, 2007

The Fleecing of New Jersey Taxpayers.

Filed under: Uncategorized — Jim @ 7:56 pm

Quite a day, this.

First, the taxpayers of New Jersey, who are among the most heavily taxed in the nation, are told that we will be receiving “property tax relief”. Of course, much of the “relief” will be funded by the additional 16% more sales tax dollars each of us will fork over to Trenton as a result of the “one penny” sales tax increase enacted this year.

In addition, those of us who can do basic arithmetic know that, given the massive deficit the state faces and the increases in spending in the Corzine budget, the money to make up for the “tax relief” will have to come from somewhere.

Care to guess where the money will come from?

Then we read in the New York Times that,

… New Jersey has been diverting billions of dollars from its pension fund for state and local workers into other government purposes over the last 15 years, using a variety of unorthodox transactions authorized by the Legislature and by governors from both political parties.

For example, at one point, in a bond funding statement, New Jersey reported having made a $551 million contribution to the teachers pension fund for the 2005 fiscal year, but later, in an audited financial statement for the fund reported a $56 million contribution. It turns out that the actual amount contributed to the fund was ZERO.

It was estimated that the pension deficit could be $56 billion – Yes, that’s “billion,” with a “B”.

Earth to New Jersey Legislators and Governors, Past and Present: Properly funding future pension liabilities is a matter of federal law and regulation, and this money will have to be gotten from somewhere.

Care to guess where the money will come from?

My fellow New Jersey taxpayers, haven’t we now reached the point where Democrats and Republicans can finally agree that we have taken just about enough of this crap? If not, what the hell will it take?


Two Heartbeats Away …..

Filed under: Uncategorized — Jim @ 7:45 am

Nancy Scarf.jpg

Speaker Pelosi During Her Excellent Adventure in Syria

Be afraid — Be very afraid.

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