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Old 01-19-2018, 09:35 PM
 
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Murphy orders audit of Christie administration's corporate tax breaks | NJ.com

This is sorely needed as it has gotten out of control. Example that sticks in my mind was Panasonic getting a huge amount of tax incentives for simply moving from Secaucus to Newark.
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Old 01-20-2018, 07:05 AM
 
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Originally Posted by GiantRutgersfan View Post
Murphy orders audit of Christie administration's corporate tax breaks | NJ.com

This is sorely needed as it has gotten out of control. Example that sticks in my mind was Panasonic getting a huge amount of tax incentives for simply moving from Secaucus to Newark.
+1
However, it should be fascinating to see how the ever-hysterical Murphy-phobes on this board will attempt to spin this audit into something that is negative in nature.

In addition to that 9 mile move for Panasonic, there was also a move of... maybe... 5 miles for Goya Foods, and Subaru of America is moving... all the way... from Cherry Hill to Camden. Here is a NYT article from a few years ago, on this topic:
Christie Gives New Jersey Firms Tax Breaks for Short Moves - The New York Times

Here is former Congressman Jim Hightower's take on the issue:
https://hightowerlowdown.org/article...milk-taxpayer/

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Old 01-20-2018, 07:41 AM
 
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I am generally against these type of corporate incentives but for some reason I tend to think that it might be beneficial in the Amazon situation.

Amazon would be a game changer for Newark
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Old 01-20-2018, 07:47 AM
 
Location: In an indoor space
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Originally Posted by tom1944 View Post
I am generally against these type of corporate incentives but for some reason I tend to think that it might be beneficial in the Amazon situation.

Amazon would be a game changer for Newark
Same here and yes Amazon would be a great addition but wonder how long those incentives last as we need incoming tax monies. Yeah, I could look it up but will if it happens.

I'll take a wait and see approach with this audit before commenting further.
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Old 01-20-2018, 09:20 AM
 
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I keep thinking that even if Amazon never paid a penny of tax because any tax liability was completely offset the change in the perception of Newark and the resulting other economic activity would be worth it.

Plus if Amazon could turn Newark into an extension of NYC like JC, Hoboken and Brooklyn it would be a game changer
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Old 01-20-2018, 10:50 AM
 
Location: In an indoor space
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Originally Posted by tom1944 View Post
I keep thinking that even if Amazon never paid a penny of tax because any tax liability was completely offset the change in the perception of Newark and the resulting other economic activity would be worth it.

Plus if Amazon could turn Newark into an extension of NYC like JC, Hoboken and Brooklyn it would be a game changer
Amazon eventually needs to be paying the legit correct amount of taxes as with the ones potentially under this audit.

I keep on hearing about the tax increases on the working NJ-ian, corps CAN pay their legit fair share and if they can't NJ will suffer for it due to potentially not being a business friendly enough state - we already lost some corps because of this.
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Old 01-20-2018, 11:38 AM
 
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I actually would eliminate the corporate tax in NJ
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Old 01-20-2018, 11:45 AM
 
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Originally Posted by tom1944 View Post
I actually would eliminate the corporate tax in NJ
I actually would eliminate the property taxes in NJ.

Better imo but a unrealistic pipe dream.

But things cost money so we need to tax, just not so much the high levels we're at.
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Old 01-20-2018, 12:48 PM
 
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I would eliminate the schools portion of the property tax and fund schools on a per pupil based system through an income tax.

I believe in broad based taxes on individuals. My experience in tax administration shows me that is the best way to raise revenue. I would also have a very flat sales tax on all goods and services. I would keep both rates as low as possible to raise the revenue needed to provide the services people want.

I would also do as much as possible to use private partners and competitors to provide government services. I manage a private contractor in my job currently and it works out very well for the taxpayers, the private business and my government employees.
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Old 01-20-2018, 01:27 PM
 
Location: NJ
23,441 posts, read 17,113,855 times
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many states govs play with corporate taxes to attract business to their state. What is murph investigating?

booker attracted whole foods to Newark and that solved Newark's problems. Otherwise why was booker elected senator? just to get him out of Newark?

inless murph does something to attract business, the taxpayers will again take it on the chin.
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