Re:Truck driver leads NJ Senate president after spending $15...
by skinnymuch on Sunday November 07, 2021 @11:14AM
(#29140654)
I don’t understand why NJ gives more than it gets back though. Is it only based around the state’s average income?
Because we have progressive taxation and a lot of rich people live in New Jersey, so they pay more in taxes. A state doesn't need to be in financial trouble because it is poor, it is in financial trouble if it makes more promises than it can afford to pay given its tax base. The constant raiding of employee pension funds and various financial ponzi schemes is why NJ is in trouble.
[1] https://www.census.gov/quickfacts/fact/table/NJ/SBO001212[2] https://www.census.gov/library/publications/2020/demo/p60-27...