More useless theory of trickle down
Regarding Gordon Macinnes’ “Tax cuts could jeopardize N.J. recovery” (Other Views, June 19):
Macinnes makes a common egregious assertion about creating a robust economy. He contends that New Jersey’s economy was vibrant when the state “invested in new technologies and research.” However, he correctly points out that it was private-sector investment by Bell Labs and Big Pharma that was at the forefront of New Jersey’s boom years.
Macinnes has reversed the cause and effect of the reason New Jersey has been lagging the rest of the nation. For more than two decades, New Jersey’s finances have deteriorated under both Democrats and Republicans. Skyrocketing spending, mounting debt, soaring taxes and overbearing regulations have made New Jersey less attractive than many states in the South and Midwest to do business.
Business decision-makers know that the costs of doing business in New Jersey will make their return on investment problematic. The solution is clear: Fewer taxes, less in tax collections, less state spending and abolition of unnecessary regulations will do more for the New Jersey economy than trickle-down economics euphemistically called government investment.
Fort Lee, June 19
The writer, a professor of finance at Ramapo College of New Jersey, has been a candidate for statewide office in New Jersey on both the Republican and Libertarian party lines.