The only people moving out are the ones who actually have incomes, or the middle class elderly whose kids are already done with school and who don't put much burden on roads and other resources. You see the problem here? The people who are staying are the ones with little kids who cost $11-12k per year to educate in NJ, and the ones who don't have jobs. It's a recipe for disaster.
NJ is ensuring that entrepreneurs won't start new businesses here. They have a special penalty tax on anyone who makes more than $500,000. That means any successful S-corp would be stupid to start up or move into New Jersey, and any who can possibly move out will do so. All you have to do is hop over the border to PA and your taxes go down several percent if you are a successful small business.
Add in endless regulations that spiral out of control every year, and NJ has to be one the worst possible places to start or keep a business.
Anyway, NJ is indeed hopeless at this point. As soon as my youngest kid finishes high school I'm outta here. I own a clean internet based business and I can operate from any place on earth.
And I am far from the only one. Everyone I know who has a business that is not tied down geographically is making plans to leave this sinking ship. It's a good number right now but it will become a tidal wave in a few more years. I think NJ is already past the point of no return on this one.
Ditto that. I'm 5 years from retirement. I'm selling (or I am going to try to sell) my home in case the chosen one gets in. No way I'm paying capital gains tax on my home. Bad enough NJ state will take a chunk of it.