Arthur Laffer

Arthur Laffer and Regina Egea tell Gov. Murphy he's going to have to cut taxes if he wants to emulate Massachusetts

Arthur Laffer and Regina Egea tell Gov. Murphy he's going to have to cut taxes if he wants to emulate Massachusetts

Gov. Phil Murphy in his recent budget address touted Massachusetts as the iconic role model for New Jersey’s economic aspirations. We wonder if, by singling out Massachusetts, Murphy was proposing halving New Jersey’s highest marginal personal income tax from its current almost 10 percent rate (fifth-highest in the nation) to Massachusetts’ 5 percent rate. Or, maybe he was suggesting New Jersey cut its current highest corporate income tax rate from 9 percent to 8 percent. Or did he mean we should emulate Massachusetts’s flat tax?