N.J. Democratic senator proposes bringing back 'millionaires tax' (buy, taxi)
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Since we are in the mood for hating middle class families and the poor and unions by only requiring them for SHARED SACRIFICE a proposal for the rich for the same sacrifice. And this is only after 1 million dollars. Let's see if Christie wants to sign it and spread the SHARED sacrifice around.
Since we are in the mood for hating middle class families and the poor and unions by only requiring them for SHARED SACRIFICE a proposal for the rich for the same sacrifice. And this is only after 1 million dollars. Let's see if Christie wants to sign it and spread the SHARED sacrifice around.
No new taxes, no more taxes. Cuts only. Period. Government needs to shrink by 75%.
Looking back on "millionaires" taxes Florio increased taxes across the board. Whitman rolled back taxes across the board and then some. In 2004 McGreevey raised the tax on those making $500k or more back to the Florio-era levels. Today after a drawn out process and several governors, the poor and middle class are paying less than they were under Florio and the rich are paying more than they were under Whitman (and the same as what they did under Florio). We have already reached the "status quo" so to speak.
The current financial mess is primarily driven by the various tricks the previous governors have used to plug the budget gap. Everything from debt restructuring and bonds to diverting pension payments.
The most telling thing for me was a little quote from a NY Times article back in 1998 when Whitman was riding high on her tax cuts and the prosperity NJ was experiencing. At that time many people pointed to the issue of increasing property taxes that were undoing any savings people saw from the income tax cuts. The article pointed to one simple fact:
Quote:
NJ must have the will to reign in the powerful public sector unions who demand ever higher wages and benefits from the state and towns they work for.
Not taking that step to control the biggest issue facing escalating local and state expenditures coupled with the financial tricks to keep the budget balanced are why we are where we are today. Taxing millionaires (who have seen no "tax cut" despite what the propaganda says) isn't going to solve our issues.
Money at our hand is better at the government's hand. We can save and invest it. Or Spend it and and buy something we like, at least we feel good. At government's hand, they just wasted it.
If they want to fix it, just downsizing the damn government.
Money at our hand is better at the government's hand. We can save and invest it. Or Spend it and and buy something we like, at least we feel good. At government's hand, they just wasted it.
If they want to fix it, just downsizing the damn government.
How true. I still fail to realize why cutting spending to make the government work within their current revenue stream is a bad thing. This is like me going to my boss and saying I need a raise because I bought a new car and I can't make the payments.
I'm just helping our current governor when he speaks of SHARING the pain. U know what I think is kind of funny, as u know i'm a registered repub. and have voted for repubs for years. Let's go back to the end of last year, the repubs on the national level kept talking about cutting taxes. They bashed Obama(who I didn't vote for) for spending and refused to sign his original bill for extending the repub. Bush Tax cuts. They said we had no money and they will not sign no matter what. Obama threw them a bone and added in the upperclass and wealthy back into the bill and it increased the deficit by billions, and then the repubs almost tripped and fell in a hurry to sign the bill because it benefitted THEM also. If they make money they could care less about cutting anything.
I'm just helping our current governor when he speaks of SHARING the pain. U know what I think is kind of funny, as u know i'm a registered repub. and have voted for repubs for years. Let's go back to the end of last year, the repubs on the national level kept talking about cutting taxes. They bashed Obama(who I didn't vote for) for spending and refused to sign his original bill for extending the repub. Bush Tax cuts. They said we had no money and they will not sign no matter what. Obama threw them a bone and added in the upperclass and wealthy back into the bill and it increased the deficit by billions, and then the repubs almost tripped and fell in a hurry to sign the bill because it benefitted THEM also. If they make money they could care less about cutting anything.
What planet do you live on? Obama did not "throw them a bone"...he had no choice..he was backed into a corner. That was the only way out if he wanted to keep the lower income tax cuts in place.
i bet this thread goes exactly like the other one did.
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