Diary

New Jersey Taxes

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Do you know the extent of economic constriction applied by the heavy hand of taxation? One of the most discussed topics of these recent times has been the effect of heavy taxation regarding economic recovery and the belief that money spent is money recovered. I want to address this because it irks me to see such willful blindness to the economic stranglehold applied by our legislature and our federal representatives.

There is a basic formula to business which one must see before understanding why tax credits and breaks are necessary over futile stimuli. Picture neapolitan ice cream. Roughly, it is divided to three major sections. Chocolate, the most loved, will be our operating revenue and profit. Vanilla will be our sweetness allocated to cost structure. Strawberry, liked by some and not by most when the other items are present, will be the taxation by our state and federal governments. When the chocolate runs low, the ice cream is considered less desirable and no balance seems to be left to the product. To once more realize this balance, cuts must be made in other sections. The vanilla is controlled by the business. The strawberry is controlled by the government. If the government does not produce a solution of tax reduction, there is only one other area to cut… Operating costs. That leaves us with a massive amount of strawberry… and very few like to only have strawberry when it was a neapolitan container.

My point is the lack of general understanding by the people of this country and of this state. We currently witness a raping of one third of accounted revenue for corporations and New Jersey tacks an extra nine percent for businesses that generate over $100,000 per year. We witness one of the highest state taxes on sales at seven percent, outside of urban enterprise zones, and people solely blame the businesses for their current status?

The responsibility, not obligation, of wealth is to create more wealth and more opportunities, in that creation, for others to profit. One should not be obligated to forfeit one’s fruits of labor, or that of one’s bequestor. It is one’s responsibility to do for others, but it is not the entitlement for others to receive. As this is true, so be it that government has no obligation to the people for provisions not provided by the structural documents that outline the principles of our nation. In a free-market, investment cannot be encouraged by the penalties of government and thus, is lessened and halted.

Some people expect taxes for the corresponding value returned as service and subsidy and it is my estimation that these same people do not understand the concept of personal responsibility, but are the first to damn for the decisions of others, and cannot understand that limitation of government or what it can legally provide. Without responsibility, there is no motivation or competition… With obligation, there is no will to be responsible for in the end, you hold no fault for your actions but the shedding of your rights to an all-powerful centralized government. I am what I am because I choose to be through judgment of my own and will provided by the unalienable rights granted. If I cede my rights, I can no longer claim my talents or profit from skill but only accept what the mighty government provides… Mmm… chocolate would be nice!

-Ian Walsh