By The Staff | The Save Jersey Blog
Billionaire David Tepper’s budget-busting decision to bolt New Jersey is bringing new attention to the state’s toxic tax climate; Assembly GOP Leader Jon Bramnick (R-Union) visited FOX Business News’ “Mornings with Maria” on Tuesday to try to provide a broader audience with some of the grisly details:
“My friends across the aisle, with all due respect, deny the fact that these high tax states are causing a problem,” explained Bramnick. “It’s simple: things are too expensive in New Jersey and people are leaving.”
Bramnick specifically cited a 2010 Boston College report which found that $70 billion in wealth left New Jersey in just four years, between 2004 and 2008.
“We have an estate and inheritance tax, one of only two states in the country that have that,” continued Bramnick. “You can’t afford to die in New Jersey. The state income tax is as high as 9 percent. And you have an incredible property tax problem as well. So people are leaving.”