Saturday, November 3, 2007

Like it or Not - New Jersey Fact Bites

• From 2000-2005, New Jersey LOST 117,600 high-paying advanced services and manufacturing jobs. During the same period, the New Jersey public payroll GAINED 53,000 jobs!

• Just about half of the sales tax increase revenues went into Christmas tree budget items rewarding the Governor’s loyal tax increasing soldiers.

• The state with the lowest property taxes is Louisiana; taxpayers paid $175.00 in 2005. New Jersey taxpayers paid $5,177.00 more than taxpayers in Louisiana. New Jersey taxpayers pay the highest property taxes in the nation, an average of $5,352.00 in 2005.

• The Associated Press reports that Federal investigators are looking into New Jersey's under-funded pension system after a report found the state diverted billions of dollars from it for other purposes. New Jersey's pension fund is the nation's ninth largest, with reported assets of $79 billion but an estimated deficit of about $25 billion.

• According to Rutgers' National Institute for Early Education Research, all but a dozen states now offer some sort of state-financed pre-school education. But funding levels in 2005 for such programs varied dramatically, ranging from more than $9,000 per pupil in New Jersey to $721 per pupil in Maryland. Pennsylvania spent less than $3,000 per pupil.

• According to Wall Street Analysts, it is unlikely the U.S. housing market will recover before 2009; there is a“50 to 60 percent chance of a recession”.

• In 2006, 72,547 people left New Jersey, effectively reducing revenue to the New Jersey economy by $10 billion.

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