The Mercatus Center at George Mason University has issued an evaluation all of 50 U.S. states on a comprehensive index of economic and personal freedom. The economic index includes data through 2011 and is composed of both fiscal and regulatory measures. Twelve different weighted components are included, with the state’s overall tax burden representing more than 28% of the equation. Other major components include government spending and debt, real property rights, health insurance and labor market.
According to Mercatus’ Index of Economic Freedom, New Jersey is ranked 48th in the nation, with only California and New York fairing worse. Worse yet, New Jersey’s economic deterioration has been swift and precipitous, mostly occurring over the past decade (2001-2011).
Click here to access the full report: Freedom in the 50 States: An Index of Personal and Economic Freedom | Click here to link directly to the New Jersey summary.