Our newspapers keep publishing remarks from our political leaders in Trenton, saying there is no magic wand to balance the budget, but they are dead wrong. For decades New Jersey has been near the bottom of states tapping revenue streams available from petroleum taxes. In fact our state gas tax is $.091 per gallon lower than the national average, and with 26.4 million gallons of petroleum products consumed every day in New Jersey, we give up $877 million each year.
Not properly using this revenue source as are the other states, over the last ten years Trenton was forced to tax property owners and borrow some $8 billion to pay for our schools, and other fixed expenditures. Unless our politicians are in bed with the energy and automotive industries, there seems no practical reason why they have transferred the cost of government from automobile drivers to the tax paying public.
In fact, if they had the courage to correct this grievous error, our property taxes could be lowered by a consistently funded $877 million per year, and perhaps there would be fewer cars and trucks on our roads.
What in the world is wrong with this wand? You tell me.
Ralph Jones
Hackensack