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“The truth of the matter is that by not reauthorizing the federal tax cuts Washington Democrats are anticipating raising taxes on New Jersey residents, said Dr. P. Kelly Hatfield, Republican candidate for Congress representing New Jersey’s Seventh District. Along with millions of Americans, New Jersey residents are experiencing a slower economy, increases in fuel and food costs and fewer job prospects as the economy adjusts to the higher tax burden when the cuts expire in two years.
“For New Jersey residents, who already pay among the highest taxes in the nation, the outlook is pretty bleak if we continue on this path,” she said. “The Democratic spending plan eliminates the cuts and calls for raising taxes almost $700 Billion over the next five years. Additionally, our current state budget, which cuts state aid to municipalities, leaves our towns no option but to raise local property taxes to continue to provide basic services. The average taxpayers are being sandwiched in the middle.” According to Hatfield the pain will be felt across the board especially for middle and lower middle income families who are already feeling the pinch and who already are not taking vacations, eating out as often or stopping at Starbucks for their morning coffee. “When these groups are forced to tighten their belts they stop supporting local shops and service businesses which in turn close up and their workers are pushed out and on to the unemployment rolls,” she says.
With NJ property taxes expected to go up, prices escalating at the grocery check out and at the gas pumps combined with health care costs going through the roof the very last thing that we need in the Garden State is to send another tax and spender to Washington. The Democratic Five Year Plan recently passed by the house provides for generous increases to federal spending paid for by higher taxes. “What NJ needs to stabilize our economy are deeper tax cuts including eliminating the capital gains, and estate tax while lowering corporate income taxes and allowing business to write off more of their expenses.” Hatfield said that judging by her opponents 'continued silence on the state and federal budgets, Democratic Assemblywoman Linda Stender certainly wouldn’t be advocating for New Jersey in Washington. “She apparently doesn’t understand that we need to stimulate small businesses to grow the economy. This is vital because 80% of all new jobs are created by small businesses. If she did she would be publicly advocating in the State Assembly to lower the state corporate tax rate.
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