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more people with higher incomes leaving in higher numbers is just a reflection of the fact that people with higher incomes can move on, people with lower incomes are trapped by their circumstances, it ain't fair but what is?
Well, that could be one reason for it. Seeing how the economists who wrote the study haven'e been able to pin down the exact rationale, I'm not going to attempt to. I will say though, that regardless of "why" it's happening, I can't see it being a good thing when people with high incomes are being replaced by people with lower incomes. That reduces the state income tax base, reduces the amount of $$ they have to spend on consumer goods (less sales tax collected), and reduces the amount of house they can afford (hence homes with lower property taxes, or the need to raise property taxes to compensate). Wouldn't you think this would be something the politicians in NJ should be wanting to understand and correct, rather than speeding around the state and getting into wrecks at 90 mph, lying on their military service records, or playing with their boyfriends at the GSP rest stops???
is that so? How did you get to that conclusion/.
even if NJ is not getting proceeds from income taxes from these people who are moving to NJ yet are working in NY aren't they paying all the other myriads of taxes NJ offers like property, sales, fuel, property transfer, utility and on and on and on.
Sure they are- but all of that added together is likely less than just the income tax they would pay if they worked in NJ. As I said, a lot of their disposable income goes to NYC, so the sales tax does also. If they're living in JC, they're likely commuting by train or ferry, so there's not the tax on fuel for commuting by car. I didn't say they weren't contributing at all- just not as much as they could if they worked in NJ.
Sure they are- but all of that added together is likely less than just the income tax they would pay if they worked in NJ. As I said, a lot of their disposable income goes to NYC, so the sales tax does also. If they're living in JC, they're likely commuting by train or ferry, so there's not the tax on fuel for commuting by car. I didn't say they weren't contributing at all- just not as much as they could if they worked in NJ.
Bob
Not so sure about that..NJ does not tax clothes & shoes like NY
Also Jersey City is in the 3% tax zone versus 7% and lord only knows the tax rate in NYC
The 3% tax zone one of the reasons Ikea in Elizabeth is jammed on weekends with a shuttle from NYC to the store
Well, that could be one reason for it. Seeing how the economists who wrote the study haven'e been able to pin down the exact rationale, I'm not going to attempt to. I will say though, that regardless of "why" it's happening, I can't see it being a good thing when people with high incomes are being replaced by people with lower incomes. That reduces the state income tax base, reduces the amount of $$ they have to spend on consumer goods (less sales tax collected), and reduces the amount of house they can afford (hence homes with lower property taxes, or the need to raise property taxes to compensate). Wouldn't you think this would be something the politicians in NJ should be wanting to understand and correct, rather than speeding around the state and getting into wrecks at 90 mph, lying on their military service records, or playing with their boyfriends at the GSP rest stops???
Bob
the only thing the politicians in NJ are concerned with is how much and how fast they can take money from anyone who comes anywhere near NJ, their view doesn't extend past your pockets and bank accounts
Not so sure about that..NJ does not tax clothes & shoes like NY
Also Jersey City is in the 3% tax zone versus 7% and lord only knows the tax rate in NYC
OK, so they buy their clothes and shoes in NJ- there's still no tax revenue coming in from the sales, right? And sure, JC has 3% tax, but can you but a car in JC? Major appliances? Anything else of real consequence? I still say there's a big disparity in how much tax revenue comes in from these folks and what would come in if that salary was made in NJ.
Not so sure about that..NJ does not tax clothes & shoes like NY
Also Jersey City is in the 3% tax zone versus 7% and lord only knows the tax rate in NYC
gee bob, do people only buy clothes? is jersey city such a large part of NJ and are there stores there that the majority of people who do not live in JC are flocking to to take advantage of the lower sales taxes? while I have no supporting data, I don't think that is the case. And you've ignored all the other taxes taken from NJ residents by the state, counties, municipalities, school boards, and even fire districts
The big joke is everyone I know who smokes haven't bought cigarettes in NJ in years. Other friends have quit, so when all the people stop smoking, whose going to pay their bills? They'll probably put a luxury tax on toilet paper.
For those who remember 1990. Florio tried that back then and that's when 101.5 became what it is today.
Try it again and watch a new revolution.
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I left
