Re: [AsburyPark] The Press Editorial - taxes

[gtscarano212]

Codey must act to cut spending Published in the Asbury Park Press 01/29/05 Acting Gov. Codey told a group of mayors this week something that they already knew: A tough fiscal year lay ahead for the state, school districts and municipalities. Codey offered little in the way of concrete ideas for closing the potential $4 billion budget gap. But he touched on a number of issues that must be addressed if property taxes and government spending are to be brought under control. If he has the courage to tackle them, he might be able to get the state moving in the right direction again. "Fiscal gimmicks, borrowing and quick fixes have been a bipartisan budget addiction," Codey told the mayors. "Both parties have employed multiple pension schemes to postpone pension obligations. Both parties have enhanced retirement benefits without thought to future costs. Both parties have been unwilling to address the skyrocketing cost of health care. And the result is a budget that cannot stand under its own weight." Former Gov. James E. McGreevey's three-year spending orgy, during which he raised more than 40 taxes or fees, culminated with a 2004-05 state budget that rose 16 percent over the previous year â the largest one-year spike in 13 years. This week, the state reported that property taxes rose another 6.3 percent statewide last year. Over the past five years, they have increased 32 percent. In several towns in Monmouth and Ocean counties, property tax increases have averaged more than 10 percent a year since 1999. Codey knows it won't be easy to derail the gravy train. He noted in his address to the mayors that attempts are under way to loosen the newly tightened restrictions on school district spending. One bill would create new loopholes costing taxpayers tens of millions of dollars. "It doesn't make any sense," he said. No, it doesn't. Taxpayers can't take it anymore. The only way to balance the state budget is to cut spending, and to pass legislation that will force spending reductions in the schools and in county and municipal government. Codey demonstrated this week that he knows what needs to be done. Now, he needs to do it. Yahoo! Groups Links To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/   To unsubscribe from this group, send an email to: [EMAIL PROTECTED]   Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.