New Jersey continues to suffocate businesses in the state (Opinion)
If you own a small business in the state, you know how much of an enemy the State of New Jersey can be. Whether it's choking regulations or oppressive taxes or surprise visits from state bureaucrats checking on how much you charge for a slice of cheese, it's a battle every day. If you don't own a small business and don't know why you should care, wake up.
Small business is the backbone of our economy. The state of New Jersey has put them through hell in the last few years during the pandemic and many are struggling to stay afloat. Whether it's a shortage of qualified employees, perhaps due to free money and benefits the state doles out or the rising cost of everything it takes to keep a business going, many are struggling to keep their doors open.
The small business community is looking for help from the state in the form of grants and federal aid that was allotted to the states.
With a budget surplus for a "rainy day" that monsoon is here for many businesses right now. Instead of a temporary check, how about a complete overhaul of how New Jersey treats small businesses? Cut taxes and regulations and let many of these family-owned businesses breathe and flourish.
Big business fares no better in this state. We are rated the worst state in the country for business climate, forcing many big companies to set up shop elsewhere. There is a bill proposed by Assemblyman Chris DePhillips of Bergen to lower the corporate tax rate to make our state a more attractive place to do business and create more jobs.
We hope Chris has waterproof pants on because he is peeing in the wind. Trying to get Trenton to get off its addiction to high taxes is like getting a junkie off the needle.
It's obvious we need a wholesale change in Trenton, both in the governor's seat and most especially in the Legislature. Small changes have happened in the last election cycle that shows some promise, but the big change is needed ASAP. If that doesn't happen, productive, hard-working, ambitious people will continue to flee to more business and taxpayer-friendly states. You might be already looking, like many of your friends and relatives.
Opinions expressed in the post above are those of New Jersey 101.5 talk show host Dennis Malloy only.
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