N.J. taxes second-worst in U.S.: Forbes
New Jerseyans already know it to be true, but a Forbes analysis of state-by-state tax burdens places the Garden State near the top of its “Worst States for Taxes” list. Samantha Marcus, NJ.com Read more
New Jersey Taxes Second Worse in the Nation
18 thoughts on “New Jersey Taxes Second Worse in the Nation”
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This boob expects to Be anointed as the next governor.
Imagine how much worse it will be with a union governor rubber stamping the democrats tax bills.
its ALL about what the unions have done to this state…absolute disgrace. time to pull the plug on the existing pension scam and declare bankruptcy and simply put an end to the theft and corruption. citizens of NJneed to take back their state.!!
Apparently you aren’t aware 4:44 pm but just like student loans don’t go away in aa bankruptcy NJs pension obligations can’t be whiped away through bankruptcy!
But the unsustainable benefits can – and will be – diminished 6:07pm. You boys pigged out and promised yourselves too much. Can you explain to the the readers why it’s in your interest not to diminish pension & health benefits?
Sweeney, Sarlo, Prieto… All bought and paid for by the unions to keep the gravy train rolling at the expense of NJ taxpayers
6:07pm, I guess you avoided the real question posed by 4:47pm: what should be done about the excessive pension and health benefits promised to public sector workers, with a $200 billion unpaid tab at last count? Let me guess what your solution is? (Reminder that this is a post about “worst for state taxes”… Add in local property taxes, toll charges, commuter taxes, etc and NJ is dead last)
Luckily health benefits aren’t constitutionally protected, so current public sector employees will be downgraded from Platinum to Bronze level from 2018 to avoid the excise tax on plans that pay over 90% of actuarial value of the coverage. Must be a drag for them just so early retirees can keep Platinum coverage
Considering Ridgewood taxpayers just voted to place themselves on the hook for a 15 Million dollar garage I guess they aren’t as over taxed as you say 4:44 pm, 10:08, 10:18 & 10:22 pm.
Build downtown parking garage?
Yes 3236
No 1777
still not willing to answer the question then about what should be done about the excessive pension and health benefits promised to public sector workers, with a $200 billion unpaid tab at last count? Let me guess what your solution is?
NJ is like a bar that has the highest priced drinks in town, but somehow the bartender (named Sweeney) has allowed his union pals in the corner to rack up a $200bn unpaid bar tab. So what’s his solution? Raise drink prices on everyone else so he can keep serving drinks to his boys! Eventually the paying patrons will just stop drinking there when they find the bar down the street has good drinks, too, but at more reasonable prices.
5:57am, by saying, “Ridgewood taxpayers… aren’t as over taxed as you say”, are you implying that state & property taxes should go up? Is that what you’re saying? Why would that be in your interest? I agree that a parking garage is an anachronism – we’ll all be picked up and dropped off by Uber auto-pilot, self-drive cars in 10 years so parking will be irrelevant, but the fact is that all of the property tax increases for the past 15 years in Ridgewood have gone to pay for BoE & public safety wages & benefits. Heck, the Village laid off 10% of the workforce in 2010 and still growing wages & benefits are still crowding out the Village’s ability to spend on capital stock, infrastructure and improved services for residents. Why not take the $15mn in parking revenues budgeted for Garagezilla and use it to cut property taxes instead?
Yes there are major issues with state spending. What doesn’t help either is that NJ is notoriously shortchanged by the feds thanks to our wonderful reps in the nation’s capitol. We get maybe 60-65 cents back for every buck we send to DC. And this money is gladly taken by red states. If we got about 75 cents back we wouldn’t have a deficit and underfunded benefit liabilities. Notice the bottom 10 are overwhelmingly conservative strongholds. Maybe our reps can do their job and look out for us instead of their red state brethren. https://investmentwatchblog.com/2015-list-of-states-most-and-least-dependent-on-money-from-the-federal-government/
Question for you big earners who work in nyc: since you pay income taxes to ny, nyc, nj and the federal govt…..
After the tax grab by ny & NYC, does any tax go to nj or are your taxes paid to ny just credited so does no get shorted?
10:18 pm asked
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I guess you avoided the real question, what should be done about the excessive pension and health benefits?
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Nothing, havent you heard Governor Christie already took care of that problem back in 2011 with his landmark pension reform bill!
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https://www.nj.com/politics/index.ssf/2011/06/assembly_passes_landmark_emplo.html
Actually 6:09, you’re not telling the full story on the Chapter 78, P.L. 2011 pension reforms… the problems are unfortunately still very much with us. Here are the facts: cost-of-living adjustments (COLAs) were suspended for current and future retirees and beneficiaries from July 2011, but there’s been no inflation in NJ since 2008, so this is not an issue. The increases in employee contribution rates towards their own pensions are only gradual: from 5.5% to 6.5% plus an additional 1% phased-in over 7 years through 2019 for TPAF and PERS; from 3% to 12% for JRS phased-in over seven years; from 8.5% to 10% for PFRS members; and, from 7.5% to 9% for SPRS members. Given the “special” retirement option available only to PFRS members, who can retire after 20-25 years and earn more from their defined benefit pensions for life in retirement then they earned in compensation while serving, they should be contributing more than 10%. As for the increased health benefit contributions, employees subject to any collective negotiations agreement in effect on the effective date of the law in July 2011, i.e. CBAs, that had an expiration date on or after the expiration of the health care contribution provisions of the law, haven’t been subject to the new higher contribution rates yet. In Ridgewood, only Fire is now paying a higher contribution amount, while the PBA and the REA haven’t yet agreed to new CBAs that would trigger higher health benefit contribution rates… so Ridgewood taxpayers have yet to see much, if any benefit from the pension reforms of 2011.
Thanks for making my point for me 7:58 am. All of the changes contained in the 2011 law that haven’t already taken effect will be fully implemented in just over 1 year. This law wasn’t designed to show a substantial immediate savings. It was designed to implement changes over a period of years and once ALL of those gradual changes were completed the impact of those changes going forward would have a positive effect on the states financial condition. You appear to want immediate solutions for long term problems, which is just not reasonable or possible.
Sorry 9:16am, are you saying 2019 is “in just over one year”? The pension contribution increases won’t be phased in until then. The health benefit contribution amounts will also phase in, and from 2011 to 2015, BoE and public safety employees saw no increase in their health benefit contribution amounts due to CBAs that were in effect at the time the Chapter 78, P.L. 2011 pension reform law was passed. In fact, maybe you’ve noticed how contentious the new CBA negotiations have become with the REA and PBA, in part due to confusion over the new higher health benefit contribution rates. The facts are clear: Ridgewood taxpayers have borne 100% of the increase in health benefit contribution amounts since the 2011 was passed. Only fire so far has settled a new CBA this year. As for “immediate solutions for long term problems, which is just not reasonable or possible”, clearly you are public sector employee. Immediate solutions happen every day in the private sector, a reality you apparently are so far out of touch with that you think a seven year phase in through 2019 is reasonable. Private sector workers don’t get pensions and health benefits for life in retirement.
Ridgewood residents just overwhelmingly, by over 2.5 to 1, approved spending money (15 Million dollars) on a stupid parking garage. They voluntary voted to RAISE their property taxes, so I don’t want to hear anymore more complaining about how the property taxes are so high in Ridgewood anymore. You Mr complain all the time about public safety employees are one of a very few who are complaining the residents have spoken time for you to shut up !