the staff of the Ridgewood blog
Ridgewood NJ, FDU’s Public Mind released a poll showing Governor Phil Murphy garnering a 35% approval rating in his first two weeks in office, with 21% disapproving and 40% who don’t know yet. His predecessors fared better in their first weeks in office: Governor Christie had a 48-31%, while Governor Corzine had 47-16%.
One bright spot for Murphy, is according to the poll, there is optimism among the respondents in the direction of the state: 39% believe the state is on solid footing with Murphy at the helm, compared to 18% in October when Christie was still in office. President Trump has a 31-60% favorable/unfavorable rating, according to the same poll.
the staff of the Ridgewood blog
Ridgewood NJ, Per Democrats’ / Murphy’s proposal, marginal tax rate on incomes above $1MM will be 10.75%.
Below are the top two tax brackets in NY state and NJ state:
For a family with income between $500k and $1MM, the NJ tax is 2.12% higher than the NY tax.
For a family with income between $1MM and $2MM, the NJ tax will not be 3.90% higher than the NY tax.
No doubt, people already settled in NJ with friends etc will not suddenly bolt for NY. But for a family currently living in NYC/Brooklyn/Hoboken (typical Ridgewood pipeline), Westchester suddenly became a MUCH better option than Bergen country. And this is before we even compared the miserable commute from NJ to direct MTA train service from Westchester.
With negative incentive to move to NJ, property values (especially in Bergen County) will track what is happening in Fairfield country in Connecticut right now.
Absurdly enough, a majority of Ridgewood residents have voted in favor of the destruction of their own town (in more ways than one).
Phil Murphy Hits NJ Campaign Stops Alongside Bernie’s Son, Levi Sanders
By PolitickerNJ Staff • 02/12/17 11:30am
“It is critical we elect progressives like Phil at all levels of government,” asserted Levi Sanders, the son of 2016 presidential candidate Bernie Sanders. The appearance of Sanders yesterday at a pair of campaign events, helped Phil Murphy accomplish two things as a candidate for the Democratic nomination for Governor of New Jersey.
First, it put a little space between him and Goldman Sachs. With Bernie Sanders, the independent-socialist senator from Vermont, still a hero to the populist wing of the Democratic Party despite his eventual fall to Hillary Clinton in the presidential primary, the embrace from his son makes it clear that Murphy isn’t a reincarnation of previous Goldman-Sachs-to-Governor tripper Jon Corzine. Levi Sanders said of the decision New Jersey faces: “It’s Wall St vs Main Street. It’s exciting.” By awarding Phil Murphy, who made his fortune at Goldman Sachs, a place on Main Street, Sanders is clearly signaling that Murphy can be trusted by the forces that created such energy around his father’s campaign.
2017 candidate for governor Phil Murphy favors a gas tax hike to pay for the depleted state Transportation Trust Fund (TTF), but opposes the estate tax phase-out championed as part of a Democratic-Republican deal in the legislature. Max Pizarro, PolitickerNJ Read more
TRENTON—State Democrats plan to advance budget bills Tuesday that raise taxes on high earners and corporate profits to shore up the state’s underfunded pension system, a proposal likely doomed because Republican Gov. Chris Christie has pledged to veto any tax increases.
The annual budget dance in Trenton typically leads to interparty fighting in June, but observers said that this year’s proceedings were particularly defined by gridlock, resulting in more political theater than fiscal negotiations. (Haddon/Wall Street Journal)