Issues - The Flat Income Tax

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Our 40th President Ronald Reagan asked, "Have we the courage and the will to face up to the immorality and discrimination of the progressive tax and demand a return to traditional proportionate taxation?” I know the people of New Jersey have that courage, and that is why I will implement a flat income tax once elected governor.

The state’s income tax is one reason on the laundry list of reasons why businesses, as well as our friends and neighbors, are moving out of the Garden State. It is among the top reasons why our state is ranked last on the list of business-friendly states and economic indicators.

New Jersey has a higher and more progressive income tax than any of its surrounding states. Therefore, New Jersey is at a competitive disadvantage to states such as Pennsylvania, Delaware, Connecticut, and even New York. Jon Corzine has acknowledged that fact, and he has admitted that the higher income taxes of New Jersey make it less attractive to people and businesses.

"Have we the courage and the will to face up to the immorality and discrimination of the progressive tax and demand a return to traditional proportionate taxation?”
--Ronald Reagan

To turn the state’s economy around and attract businesses and people, we must end our progressive income tax. My Flat Tax plan, with a lower tax rate than all surrounding states, will make New Jersey a magnet state for the very businesses and people we have been driving away over the past years. With a lower income tax than surrounding states, businesses and people will start moving into New Jersey, and we will see increased economic growth and prosperity in the Garden State.

My flat tax plan will start with a flat tax rate of 2.9% on every dollar earned. The rate will decrease to 2.5% the following year, and further to 2.1% in the third year. Moreover, the rate will only be changed thereafter by a super majority of the state legislature.

Issues - The Flat Income Tax

"Have we the courage and the will to face up to the immorality and discrimination of the progressive tax and demand a return to traditional proportionate taxation?”--Ronald Reagan

"Have we the courage and the will to face up to the immorality and discrimination of the progressive tax and demand a return to traditional proportionate taxation?”
--Ronald Reagan