Corzine tax agenda will kill growth

To the Editor: Gov. Corzine’s tax agenda is about to kill economic growth in New Jersey for awhile. With modest inflationary pressure and a Federal Reserve inclined to continue stepped rate increases, the best thing you could do for the state right now to encourage more revenue flow to the treasury is lower taxes and spending. Maybe the governor and his fellow Democrats feel the rhetoric of tax increases is soothing to those who want to quickly lower the state’s debt load. In my mind, this is only rhetoric because it is well known that lowering taxes will increase state revenue as business and employment multiply. Rhetoric of taxation soothes a certain voter base that is conditioned to believe that higher taxes imply greater social good. Gov. Corzine’s tax increases will put the brakes on a state economy already poised to stall out from increasing interest rates. Housing was the workhorse behind the latest economic boom. It drives construction and aftermarket goods like cars and large appliances. Higher interest rates are already stalling this engine and it may be a good thing in the long run to slow things down for awhile. But, it seems irresponsible to slam the brakes on the bus as we coast into the next uphill segment of our economic journey. Vic Campbell Sparta