To a joint session of the New Jersey Legislature, Governor Jon Corzine proposed the state's spending plan for the upcoming year. This year's budget proposal was an attack on property owners. Property owners took a major hit when he declared his goal to eliminate the property tax deduction next year on state income taxes for everyone but seniors.
If all the experts agree that "Housing" led us into recession and ONLY "Housing" can lead us OUT of recession, then our government is sabotaging the economic engine of recovery:
First, President Obama considers eliminating the tax deduction on mortgage interest for those with annual incomes greater than $500,000!
Now, Governor Corzine plans on eliminating the property tax deduction for everyone but seniors!
Could we possibly discourage the American Dream of Home Ownership any further?
Could we possibly delay the housing recovery even longer?
Could we possibly take any more from the few that still have?
Et Tu Brute?