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NY has a similar top bracket though the cutoffs double for married filers (ie 2mm instead of 1mm). I don't think that will be the case in NJ. That top rate is 9%, though if you live in NYC your total marginal rate goes up to nearly 13%.
Murph is taking a cue from PA Gov. Tom Wolf's playbook. Wolf's first budget proposals included doubling the state income tax rate (PA's constitution prohibits progressive taxation), raising the sales tax to 6.6% from 6% and taxing such heretofore untaxed items as funeral services, sports admissions, airline tickets, textbooks, fees for financial services, bullion gold, caskets, accounting services, a severance tax on natural gas extraction and a $1 increase in the cigarette tax. The state legislature put the kibosh on Wolf's proposals but it took a year of threats and counter threats.
That won't happen in New Jersey.
What compels these democrats to keep increasing taxes?
Murph is taking a cue from PA Gov. Tom Wolf's playbook. Wolf's first budget proposals included doubling the state income tax rate (PA's constitution prohibits progressive taxation), raising the sales tax to 6.6% from 6% and taxing such heretofore untaxed items as funeral services, sports admissions, airline tickets, textbooks, fees for financial services, bullion gold, caskets, accounting services, a severance tax on natural gas extraction and a $1 increase in the cigarette tax. The state legislature put the kibosh on Wolf's proposals but it took a year of threats and counter threats.
That won't happen in New Jersey.
What compels these democrats to keep increasing taxes?
Previous governor of NJ raised NJT fares by roughly 35%, increased state college tuition, cut back education and police help to municipalities, did not make the promised pension payments. What compels these Republicans from making everything more expensive thereby increasing the burden on middle class?
You guessed wrong, I do. And I did not see a penny of a salary increase/bonus as a result of the tax law. It all went to executive boards, CEOs and wealthy shareholders. That is why I support a higher tax since at least it would hopefully contribute to the public good.
It doesn't make any sense for someone who has a good job in the private sector to support a higher corporate income tax.
Maybe when your job moves to a lower-tax state you'll feel differently
NJ's taxes need to increase significantly more than what has been proposed. The state is almost insolvent. The most underfunded pension plan in the US. That's quite an achievement for a state that is so proud of the their public school system. It appears no one in NJ has ever been taught basic math.
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Unfortunately, being the not so proud owner of the most distressed and underfunded public pension fund in the US is just the start of New Jersey's monetary woes, and as Bloomberg reports, New Jersey's fiscal situation is so dire that new Governor Phil Murphy has 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.
We're already among the top-3 taxed states in the country. We do not need more taxes. We need less spending.
Sometimes I wonder WHY WHY WHY does the government,,, ANY government take ANY money or taxes from people,, when they can print all the money they need???
People have told me that's to control inflation. I'm not 100% sure I ever buy that.
I mean if the expense is just and it helps all residents just print whatever money is needed, paid, done.
Sometimes I wonder WHY WHY WHY does the government,,, ANY government take ANY money or taxes from people,, when they can print all the money they need???
People have told me that's to control inflation. I'm not 100% sure I ever buy that.
I mean if the expense is just and it helps all residents just print whatever money is needed, paid, done.
Are you being sarcastic? I honestly can't tell. You really don't understand why governments can't just "print money" to raise revenue?
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