The NJ economy will take a hit from our recent budget, according to accountants. Well, we have to pay for increased spending so get ready for increases in taxes, “fees”, “charges”, “licenses” and all other things that well, are really taxes. As for the mass exodus of Jerseyans, there will still be many of us left to foot the bill. Eek.
“The outward migration of wealth will continue, and the long-term effect will be disastrous,” said a poll respondent. In a survey, the majority of CPAs in the state said New Jersey’s $34.7 billion fiscal 2019 budget, signed on July 1 by Gov. Phil Murphy, will have a negative impact on the economy…The CPAs, in their responses, said that the tax hikes will result in wealthy individuals fleeing the state”
Read: CPAs NJ budget will hurt economy at NJBIZ