file photo by Boyd Loving
JOHN REITMEYER | APRIL 12, 2017
Majority of New Jerseyans back tax hike on the rich — if revenue is used for education and public pensions
A recent public opinion poll revealed an overwhelming number of New Jersey voters would support hiking taxes on those with incomes over $1 million if the new revenue is used to boost education aid or increase public-employee pension payments, two areas the state has been underfunding by billions of dollars in recent years.
But the results of a new survey of New Jersey’s certified public accountants raised concerns that such a change in tax policy could ultimately deliver a bad outcome for the state budget, especially if it chases wealthy residents and small-business owners out of New Jersey to other states with lower tax rates.
The rekindling of the debate over just how much New Jersey should be taxing its wealthiest residents comes just as lawmakers are evaluating Gov. Chris Christie’s latest state budget proposal. Christie’s $35.5 billion spending plan for the new fiscal year that begins in July holds the line on taxes, which has drawn praise from Republicans, but also continues the practice of underfunding the state’s school aid and pension contributions, which is something many Democrats have criticized.
The rich will stay in NJ while they are employed and the kids are in school. After that they are gone. Also keep in mind that the rich are telling their kids to find another state to start their careers in. Unless you make big money you have no chance of raising a family and saving money in NJ.
Punish success.
Reward bad behavior,
.
The new American way.
.
The rich = the smart (savvy)
The will not get “caught” by this simple “tax trap”
Let’s restore the 90% tax bracket that Ronald Reagan used to complain about.
Guess how seven wolves and one sheep voted on what to have for dinner?
This is just more stupidity from the union-controlled morons running the state in Trenton… won’t make any difference to the state’s fiscal deficit but pleases the union thugs. Rich don’t need to live in NJ, they can move… and they will.
I am not a millionaire but I have a problem expecting them to pay more for my services.
When the millionaires are gone they will come for the rest of us to pay for for free college, free preschool, free minimum incomes and free healthcare.