Income Tax, ECONOMIC OPPORTUNITY FOR ALL
ROI-NJ: World-renowned economists: On taxes, incentives and economic development
ROI-NJ excerpts the opening statements of economists Arthur Laffer and James Wetzler, who spoke at the GSI Economic Policy Forum.
“New Jersey has become addicted to government spending, forced union labor spending, taxes and regulation,” Laffer said. “Those three are killers. You cannot tax an economy into prosperity. Nor can a person spend himself into wealth. It just doesn’t happen. New Jersey, in all honesty, needs an intervention.”
“The main thing states can do is do their job properly,” Wetzler said. “If you’re responsible for 15 percent of the GDP for state spending, it’s not out of the question that you might do it 15-20 percent more efficiently than your neighboring state. That would make a meaningful difference.”
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