New Jersey Taxpayers are Done - For this Year
Sunday September 6 was a banner tax for New Jersey residents - you won't find it on your calendar, but day 249 of the year was the day New Jerseyians finally paid their tax bill for the year. For the first 249 days of the year New Jersey residents were working to pay for government spending programs - federal, state, local. For the remaining 116 days of the year, you work for yourself - to pay mortgage, utilities, food, clothes, car, vacation, and all the things you value.
Americans for Tax Reform reports that New Jersey has the second longest cost of government time span:
Today is the day on which New Jerseyians have finally paid off the burden imposed by state, local and federal spending and regulations. While the national average fell on August 12 in 2009, taxpayers in the Garden State had to work an astounding total of 249 days out of the year to pay for the cost of government. Only one state, Connecticut, has a later COGD [Cost of Government Day] than New Jersey.
Note that this is different from Tax Freedom Day, which was April 29 for New Jersey in 2009 (again, the second latest in the country). According to the Tax Foundation, Tax Freedom Day is "calculated by dividing the official government tally of all taxes collected in each year by the official government tally of all income earned in each year." Cost of Government Day is different, and later, because it is calculated by the cost of spending, a much greater number than income these days. For a full breakdown of each states Cost of Government Day, look to Americans for Tax Reform.
I love living in New Jersey, and taxes are necessary to run the government and pay for services, but 48 other states do a better job than we do - not something to be proud of.
