As we predicted just a few weeks ago New Jersey’s tax revenues are predicted to be lower than expected.

In a blog post a few weeks ago we said if you want to see the future of New Jersey take a look at New York not realizing that reality would come so quickly.  New York Governor Cuomo acknowledged that raising taxes was not the answer to his state’s budget shortfall saying “tax the rich, tax the rich, tax the rich. The rich leave and now what do you do?”  Will Governor Murphy acknowledge that he cannot continue to raise taxes in the state that is already among the highest taxed in the nation and the #1 state that people leave?

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