Corzine's math doesn't add up
According to the Ledger's report on Corzine's budget,
Corzine estimated his proposed sales tax increases would raise $1.4 billion and cost the average family with an income of $84,000 about $260 per year. In addition to increasing the rate, he wants to expand the tax to new items such as golf and health club memberships, shipping services and music and video downloads.This is a disingenious statement at best and a lie at worst. According to the year 2000 census by the Federal Census Bureau , the population of New Jersey is 8,698,879 people and the average household consists of 2.68 people or 3,245,850.37 million households. Which means that if the new sales tax increase is supposed to generate $1.4 billion, the average household in New Jersey will pay an additional $431.00.
posted by RBM @ 7:39 AM
3 comments
3 Comments:
pn:
In 2000 there were 234,558 private firms in NJ. What do you estimate there portion of the sales tax to be? 234K business vs. 8.6 million spenders. So business establishments (mostly mom and pop stores) are 2% of the total population. I doubt it adds up to much more than 2-3% of the sales tax collected.
oops, their
Could be, but how in the world do you quantify it? The most direct calculation is the one I started with. with out any other supporting documentation, corzine's number is just a myth.
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