Who’s worse: New York or New Jersey?
When it comes to taxes, the technical answer is New York. But it’s not much of an achievement for New Jersey. Out of 50 states, the Garden State clocks in at 49th.
The news comes from the latest report of the nonpartisan Tax Foundation. Each year, the group ranks each state based on its business, income, sales, property and Âunemployment-insurance taxes. The idea is to let politicians, businessmen and citizens know how their states fare when stacked up against the competition.
Now, taxpayers in New York and New Jersey probably didn’t need a new study to tell them the answer to that one: not too well. After all, the new rankings are not much different from last year — when New Jersey was 50th and New York 49th.
These new rankings come, however, when the governors of both states appear to be in a tax-reform mood. In New York, Gov. Cuomo has set up a tax commission that includes Republicans. In New Jersey, Gov. Chris Christie continues to push for more tax reform — and for a reform of the civil-service system he says is vital to the effort.
Let’s hope they get it done. Because the real comparison in this report isn’t between New York and New Jersey. It’s between these two overtaxed states and the 48 others ahead of them.
What that should tell governors, voters and legislators is that our two states are far beyond the days when a tweak here or there will do anything to make our states more attractive to capital and investment.
The test is the day a Tax Foundation ranking shows New York or New Jersey moving up into the top half — instead of simply alternating with each other at the bottom of the heap.