Cut state income tax for new-job creation

To the Editor:

New Jersey cannot wait for the federal stimulus investments to produce jobs. Unemployment now is at 10 percent, people are losing their homes, moving out of state and not contributing to the tax base.

I believe the state ought to start giving income tax abatements to businesses that employ people. A formula needs to be worked out on how many new employees a business must hire to qualify for the abatements.

 I suggest that no income tax be levied on such companies or their workers. This will make those companies profitable and the workers contributors to the economy with their purchasing power.

Why not? We are not collecting anything now (from idle workers or businesses with no income). At least people will be put to work and won’t be leaving the state.

This plan can be put in place until the unemployment rate is lowered to 6 percent.

Luis M. Perez