BRAMNICK: CORZINE'S BUDGET WILL ESCALATE MIGRATION OF MIDDLE CLASS, BUSINESSESAssembly Republican Whip Jon Bramnick today said he isn’t sure who will flee New Jersey faster – the state’s middle class families or businesses - following Governor Jon Corzine’s proposed budget which calls for nearly $1 billion in tax hikes that will affect both groups.“If there’s an upside to any of this nightmarish budget the governor just introduced it’s that revenues from our toll roads should increase as residents and businesses alike hit the road and head out of state,” said Bramnick, R-Union, Morris, Somerset and Essex, who noted that Corzine significantly raised tolls on state highways last year. “This latest proposal is disastrous for everyone. It’s ramifications will be felt for years to come as it will escalate the migration of the middle class and businesses from our state.”Bramnick said Corzine’s latest revenue generating plan, which calls for an increase in the payroll tax, will have a domino effect that will leave both employers and workers reeling.“The governor’s plan to hike the payroll tax to support the Unemployment Insurance Fund will cost each employer about $80 per employee,” explained Bramnick. “Many businesses in this state are barely treading water now. Many have already left. Those that remain are shedding employees left and right. This tax increase will put the nail in their coffin, resulting in even more job losses. If people aren’t working, they can’t pay their bills and mortgages. Foreclosure rates will continue to soar.”Bramnick added that the payroll tax hike coupled with the extension of the 4 percent corporation business-tax surcharge and a 25 percent alcohol tax increase is a toxic mix the state’s business industry cannot afford – nor does it work.“Economists have repeatedly said you cannot tax your way out of an economic crisis,” noted Bramnick. “One-shot gimmicks do not work either, as we well know. Yet that is exactly what Governor Corzine has proposed – more of the same failed policies and lack of leadership. What he hasn’t offered are fundamental or permanent reforms that will control spending, cut the size of state government and attract businesses to New Jersey.”                                              ####