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New Jersey Danger Sign The State’s Shrinking Workforce

the staff of the Ridgewood blog

Ridgewood NJ,  according to the Garden State Initiative (GSI) analysis of September’s monthly jobs report for New Jersey showed continued, smaller gains for a state economy that is still struggling to regain last year’s workforce losses .

The bad news is that while New Jersey’s workforce grew in September, it is still smaller by 30,100 individuals compared to September last year. The state’s current workforce is also smaller than the state’s average workforce size in 2008.

Continue reading New Jersey Danger Sign The State’s Shrinking Workforce

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Reader asks What will it take for the Council to take the plugs out of their ears and blinders off their eyes?

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What will it take for the Council to take the plugs out of their ears and blinders off their eyes? Residents have been begging, pleading, showing how items can only bankrupt the town and make taxes even higher with no sign that the council has heard or read a word. If the library wants to grow (unnecessarily)it can self fund. Most of the tutors, self employed business people, and book readers are not even from Ridgewood. Self funding would include monies from these people and let the Ridgewood taxpayers alone from providing luxury items that everyone (including the library board–they just “want it” not “need it”) knows is not essential. If the board still feels it is necessary, start your fund drive and wait to see if you get one red cent to splurge on the library and take from libraries and towns who NEED the money just to survive. The council is all spend, spend, spend and who cares if Ridgewood has enough money to pay their new debts. And we thought the prior council was bad. The present one is composed of nice people with not one bit of economic knowledge in all their heads put together.

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Reader says We actually need an emergency cost reduction plan for the next 18 to 24 months

We actually need an emergency cost reduction plan for the next 18 to 24 months.lets start with suspension of all but
the most serious Utility work where police idle in front of
minor utility work on side streets for no justifiable reason ,
when PSEG can be tasked on 90days notice to provide
OWN employee flag workers OR SUBS to protect the work site.
Let PSEG PAY THEIR PENSIONS AND Benefits .
For major wire or street closure or main Avenue Gas projects then let’s
focus the town police use where needed for those major
risks along with PSEG flaggers.
People we have to begin to get our house In order.
TOWN SPENDING IS OUT OF CONTROL.Day of reckoning ahead. People selling and moving out all around us…

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NJGOP Chairman Reacts To Murphy’s Absurd Economic Development Speech

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the staff of the Ridgewood blog

Trenton, NJ – Yesterday, Governor Phil Murphy gave New Jersey Business a good laugh , after 18 tax increases totaling over $1.5 billion in new taxes the  Governor has come up with a new scheme spending even more money to encourage startups in the Garden state .

Continue reading NJGOP Chairman Reacts To Murphy’s Absurd Economic Development Speech

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Assemblyman Christopher DePhillips , “When you pass a budget where we had 18 new tax increases built into that budget, you scare the daylights out of people,”

the staff of the Ridgewood blog

Wyckoff NJ, Assemblyman Christopher DePhillips joined Jill Horner on Comcast’s Newsmakers last week to discuss capping state spending each year at the same 2 percent placed on local government tax levies. Municipalities have a two percent cap, which is credited with helping to slow the rapid growth of New Jersey’s notoriously high property taxes; but the state is not subject to that cap.
“The towns have been largely living within the two percent cap without a problem,” DePhillips (R-Bergen) explained to Horner. “I think it would be hypocritical for us not to do this when we are imposing the same requirement on towns.”

Continue reading Assemblyman Christopher DePhillips , “When you pass a budget where we had 18 new tax increases built into that budget, you scare the daylights out of people,”

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New Jersey Rated 2nd Worse Place to Retire

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the staff of he Ridgewood blog

Ridgewood NJ, according to MoneyWise , New Jersey is the second worse place to retire . MoneyWise  says New Jersey is  No. 2 on our list because the Garden State can take a serious financial toll on retirees. That’s despite its charming suburbs and small cities, its pretty beach towns and its golf links galore for your amusement.

Continue reading New Jersey Rated 2nd Worse Place to Retire

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Internal Revenue Service Says New Jersey’s SALT “Charitable Tax Dodge ” a No Go

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the staff of the Ridgewood blog

River Vale NJ,Assemblywomen Holly Schepisi , “Several months ago I raised concerns that the IRS would disallow NJ’s proposed charitable contribution of property taxes workaround. I implored my fellow legislators to stop pushing gimmicks and instead focus on much needed reforms to how we fund schools, reforms to our pension and health benefit programs, reestablishing caps on property taxes and working to change how we fund things in this State while reducing our expenses. ”

Continue reading Internal Revenue Service Says New Jersey’s SALT “Charitable Tax Dodge ” a No Go

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Senate President Steve Sweeney , ““We can neither tax our way out of our current fiscal crisis nor can we politicize the crisis “

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the staff of the Ridgewood blog

Trenton NJ, Senate President Steve Sweeney issued the following response to Assembly Speaker Craig Coughlin’s comments pledging no additional tax hikes in next year’s budget:

“I applaud Speaker Coughlin for taking a bold stand on no tax hikes in next year’s budget.

Continue reading Senate President Steve Sweeney , ““We can neither tax our way out of our current fiscal crisis nor can we politicize the crisis “

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Organization For Economic Growth: Ciattarelli Offers Prescription For New Jersey’s Ills As He Moves Closer to Declaring Gubernatorial Run

July 28,2018

the staff of the Ridgewood blog

Mountain Lakes NJ,  Jack Ciattarelli sounded very much like a man running for governor Wednesday night as he addressed the first “Brotherhood of Business and Labor” reception hosted by the New Jersey Organization for Economic Growth in Morris County.

Ciattarelli, who ran for the Republican nomination for governor last year, presented his ideas to cure New Jersey’s economic and tax ills, which included the elimination of the state tax on capital gains, phasing out the corporate business tax, and ending the practice of raising property taxes on people who update their homes without increasing the size of the house.

Ciattarelli’s philosophical approach is to not punish people who take risks or who invest in projects that create value and jobs. That philosophy was enthusiastically received by NJOEG Chairman Joseph Caruso, who said he welcomed Ciattarelli’s bold candor.

When Caruso asked the keynote speaker of the event if he was running for governor, Ciattarelli smiled and reeled off the exact number of months and days until the next gubernatorial election before admitting that he would run.
Ciattarelli was warmly received at the Brotherhood event, which included a number of elected and appointed officials including New Jersey State Republican Party Chairman Doug Steinhardt; State Sen. Joseph Pennacchio; Business Manager for the International Brotherhood of Electrical Workers Local 102 Patrick Delle Cava; and NJOEG Labor Liaison Christian Barranco
“I think Jack will be a great candidate and will make a tremendous governor. He understands economics and investment and he is willing to tackle tough issues without pandering to the special interests that are largely responsible for New Jersey’s horrid economic condition,” said Caruso, a business executive from Wayne.

Ciattarelli, a former assemblyman from the 16th Legislative District, stepped into the quagmire that is the state’s ongoing property tax crisis; saying bluntly, “You can’t fix the property tax problem in New Jersey without fixing the state’s school funding formula.”

Ciattarelli’s fix entails providing the same amount of per student funding for every child regardless of where they live.

He also waded into the pension crisis saying: “The state pension plan is busted. It was not designed to pay lifetime health benefits to people who live into their 90’s,” he said.

Ciattarelli took a few jabs at Gov. Phil Murphy and his progressive policies and tax increases, saying: “Murphy lights the fires of socialism.”

Della Cave, representing labor at the event, pointed out how his union is backing incentives for business investment because “businesses are not expanding in New Jersey without them.”

Delle Cave, who represents 2,500 electricians and has $1 million budget for political activity, said there are two main issues important to his members besides creating a robust economy. “Don’t do away with prevailing wage laws and don’t make this a right to work state,” he said.

Steinhardt said state officials need to address New Jersey’s problems by “resisting the temptation to do what is easy and what feels good.”

The State GOP chairman offered a few reforms he would like to see including a 2 percent cap on state spending (which now applies to municipal and county governments), public sector pension reform and a reduction in regulation that is killing business investment.

Barranco, who served as master of ceremonies for the event called it highly successful in furthering the dialogue among government, labor and business.

“New Jersey’s present economy is imbalanced with the few good things going to relatively few people, while everyone else – including private sector workers, homeowners, young people and business all getting squeezed to the breaking point. Through more events like this and more honest dialogue we can fix what’s wrong with New Jersey,” said Barranco.

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TEVA Ditches Woodcliff Lake and heads to Democrat Controlled Parsippany

July 8,2018
the staff of the Ridgewood blog

Parsippany-Troy Hills N.J. , just days after New Jersey Governor Phil Murphy  rams through an enormous tax increase on New Jersey taxpayers,  Teva Pharmaceuticals USA will move its headquarters and consolidate top managers from North Wales, Montgomery County, to its facility in Parsippany-Troy Hills, N.J.

Gov. Phil Murphy, who announced the move Thursday , New Jersey lured the firm with a $40 million package of tax breaks. Teva USA, an arm of an Israel-based firm that is the world’s largest manufacturer of generic drugs, has seen its stock price fall nearly in half as its main moneymaking drug lost its patent protection, and multibillion-dollar acquisitions left it mired in debt. Its latest chief executive, Kare Schultz, has announced a $3 billion plan to cut 14,000 jobs, a quarter of its global workforce.

In essence the State of New Jersey taxpayers are paying TEVA to relocate to Parsippany .

Our friend Carolee Adams‎ gave us the inside story for Bergen County in a Facebook book note she said , “HERE’S THE TRUTH ABOUT THIS DEAL from Mayor Rendo of Woodcliff Lake: “Teva Pharmaceuticals was a presence in Woodcliff Lake until last year when it closed its doors leaving us with an empty building, unemployed area residents, and our area businesses hurting from the patrons that they lost. Now Murphy come in claiming that his administration lured Teva to NewJersey when it already had a presence in Woodcliff Lake. So here’s the shell game. Teva closes, moves to Parsippany with Murphy giving them tax credits and making it look like they never had a presence in the State. Was it to reward the New Democratic Mayor of Parsippany? Hmmmm.”