Article

2018-03-15 -Land of the Free

New Jersey’s New Budget Aims to Raise Taxes on Almost Everything

[BLOOMBERG] New Jersey Governor Phil Murphy proposed taxing online-room booking, ride-sharing, marijuana, e-cigarettes and Internet transactions along with raising taxes on millionaires and retail sales to fund a record $37.4 billion budget that would boost spending on schools, pensions and mass transit.

The proposal, 4.2 percent higher than the current fiscal year’s, relies on a tax for the wealthiest that has yet to be approved and lacks support from key Democrats in the legislature. It also reverses pledges from Murphy’s predecessor, Republican Chris Christie, to lower taxes in a state where living costs are among the nation’s highest.

Murphy, a Democrat who replaced term-limited Christie on Jan. 16, said his goal is to give New Jerseyans more value for their tax dollars. He has promised additional spending on underfunded schools and transportation in a credit-battered state with an estimated $8.7 billion structural deficit for the fiscal year that starts July 1.

"If we enact another budget like the one our administration inherited, our middle class will continue to be the ones shouldering the burden, while seeing little in return," Murphy said Tuesday in his budget address to politicians. "A millionaire’s tax is the right thing to do ‐- and now is the time to do it."

No mention of converting current existing gov employee pension plans into 401Ks or IRAs and eliminating further government pensions to save the citizens of the state?

They’ll get there eventually. But first they have to drive out the most productive portion of their population.

Sorry, we're full up. Georgia simply cannot take anymore folks from New Jersey, New York, California, Illinois, or Massachusetts.

Posted by Fred 2018-03-15 00:00|| || Front Page|| [11133 views ] Top

#1 Sorry, we're full up.

After these last three winter storms perhaps they will turn their gaze towards warmer climes, like Mexico.

Posted by Skidmark 2018-03-15 08:30|| 2018-03-15 08:30|| Front Page Top

#2 "A millionaire’s tax is the right thing to do ‐- and now is the time to do it."

They tried that elsewhere and found out, millionaires can move very quickly.

Posted by Procopius2k 2018-03-15 08:49|| 2018-03-15 08:49|| Front Page Top

#3 "A millionaire’s tax is the right thing to do ‐- and now is the time to do it."

How's that working out in Connecticut, Jimmy?

Posted by Raj 2018-03-15 09:13|| 2018-03-15 09:13|| Front Page Top

#4 All those Yanks will move south and just mess everything up. See Virginia and North Carolina. (The NC court system is jammed up with PC critters and feminists on the bench).

Posted by jvalentour 2018-03-15 10:25|| 2018-03-15 10:25|| Front Page Top

#5 The problem is that millionaires in that part of the world are just working stiffs like the rest of us. With Connecticut and New York already high tax, where are the Jersey folk going to go? They still have to commute to the office.

Posted by trailing wife 2018-03-15 15:19|| 2018-03-15 15:19|| Front Page Top

#6 ...cash in. Move on (to use a phrase). Got to cut your losses sometime.

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Posted by Procopius2k 2018-03-15 16:52|| 2018-03-15 16:52|| Front Page Top

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