October 27, 2008
North Jersey Record Interviews Tax Foundation President Scott Hodge on the Presidential Candidates? Tax Plans
"Read Their Lips, and Get Out the Calculator"
By Herb Jackson
"In many parts of the Northeast, including New Jersey, it doesn't take much for two mid-level executives to have an income that would fall into that eligibility for higher tax rates," said Scott Hodge, president of the Tax Foundation. His group backs a broader, flatter tax code that would spread more of the burden on middle- and lower-income workers to cut rates on the wealthy.
The Tax Foundation annually calculates the "rate of return" statistic that most recently ranked New Jersey last in the nation, receiving 61 cents in federal spending for each $1 it sends to Washington. The statistic is largely driven by the state's high incomes and the progressive tax code that takes more from the wealthy.
