The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Trenton NJ, State Treasurer Elizabeth Maher Muoio issued a new voluntary disclosure statement to bond holders today, as required by law, providing the most detail, to date, on the potential impact COVID-19 may have on New Jersey’s finances, including revenue collections and pension fund contributions.
file photo by Boyd Loving
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Ridgewood NJ, just one day after progressive groups lobbied Governor Murphy for massive tax increases ,a new study finds that New York and New Jersey are losing more residents than any other states.
The career website Zippia looked at the population data from the Census’ American Community Survey to determine the states with the largest population decrease from 2017 to 2018, which is the most recent data available.
Continue reading New Study Shows New York, New Jersey Face Largest Population Decrease In The U.S.
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, According to Internal Revenue Service (IRS) data released last week, New Jersey experienced an outflow of nearly $3.2 billion in Individual Income Tax Return Adjusted Gross Income (AGI) for tax year 2017-2018.
Yet, Governor Phil Murphy remains committed to a millionaire’s tax. With Lieutenant Governor Sheila Oliver standing behind him, the Governor cited the tax as beneficial to prepare for a “rainy day.”
Continue reading Money Continues to Flee New Jersey to Greener Pastures
It’s pretty bad when the Attorney General lies to the public.
I’d respect him more if he just said hey, I was appointed by a left-wing-loon that wants to make NJ a sanctuary state and this what he wants, instead of the make believe reason “we want all residents to feel safe interacting with state and local police officers”
the staff of the Ridgewood blog
Trenton NJ, week Governor Murphy defended hiring former Passaic councilman, Marcellus Jackson, who, as a Passaic City councilman, was convicted of taking bribes from undercover FBI agents. Murphy called his decision to hire the convicted felon into the Department of Education his administration’s “new norm.”
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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
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.”
June 27,2018
the staff of the Ridgewood Blog
MOUNTAINSIDE NJ The Hugin for Senate campaign continued a statewide tour of roundtable events to discuss the affordability crisis gripping New Jersey and the impact of the proposed state budgets in Red Bank this morning.
Speaking to local business owners, Hugin discussed taxes, burdensome regulations, and healthcare with the group. John Dwyer, who represents the Hazlet Business Owners Association that includes more than 150 local businesses, kicked off the discussion on the impact of tax hikes on employees and employers.
“More taxes aren’t the solution, they’re only going to make things worse,” said Dwyer. “My employees are hard working folks that know how to hustle, but elected officials needs to wake up and realize they are hurting employees and employers with their pie in the sky efforts.”
“What government doesn’t understand is that we have to look at everything. Healthcare, for example, for employers is out of sight. If we can figure out that issue, it would probably solve most of the problems we as business owners have,” said Rena Levine Levy, co-owner of WindMill Restaurants, a chain that started in 1963 in Long Branch.
“Making New Jersey more affordable means seeking ways to support small businesses and encourage job creation. The fight in Trenton—over which taxes to increase—isn’t addressing the problem: the state is becoming an increasingly unaffordable place to live and operate a business,” said U.S. Senate candidate Bob Hugin.
Hugin’s affordability tour will continue tomorrow in Toms River where he will be meeting with young professionals and later in the day in Bayville where he will be meeting with seniors.
Bob Hugin, a Marine Corps Veteran and business leader who has created thousands of New Jersey jobs, is running for U.S. Senate to challenge incumbent Senator Bob Menendez. For more information visit bobhugin.com.
June 26,2018
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Rivervale NJ, Assemblywomen Holly Schepisi had this report on the states budget negotiations, ” Fascinating conference call. I joined in the Democratic State Committee conference call with Governor Murphy 1-609-246-3298 to talk about the budget. There is a proposed spending increase of several billion dollars, tax increases on everything from Uber rides, Air BnB, gas tax increases, corporate business taxes, hospital taxes, sales tax, vape tax, internet sales tax, sports betting taxes, firearm taxes, among others but that isn’t enough. The Governor’s spending proposal is so high that even with all these tax increases there is a potential $1 BILLION deficit, with only partial school funding, partial pension payments and no reforms whatsoever. Instead there is the push to further increase the sales tax, the small business tax, the corporate business tax and a millionaire’s tax.
During this call Governor Murphy’s talking points are as follows:
1. Fiscal year ends Saturday and the Democrats are meeting but NJ needs sustainable long term revenues in place — aka permanent additional tax increases beyond those mentioned above.
2. NJ needs to stop kicking the can down the road — NJ must must move beyond that. We need to break the back of that culture.
We need to ensure “hand outs” are available. They deserve it.
I agree with the Governor that NJ needs to stop kicking the can down the road. We must make cuts. We need to reform our pension system. We must change our school funding formula. We must change our healthcare system.
3. Property Taxes – the Governor said property taxes are so high because of our public educational system and that additional taxes would help with this burden.
Unfortunately this statement is just not true. Even if our current funding formula was fully funded the average suburban community still receives virtually no funding. By way of example, River Vale currently receives $455 per student per year in school funding. In the event the school funding formula was fully funded River Vale would receive a maximum of less than $1,000 per student per year in school funding. All 70 of the Bergen County school districts combined would still receive less than Jersey City. Bergen County currently contributes more than 30 percent of the total taxes paid and receives less than 3 percent of those monies back. Under the new tax proposals we may send down more than 35-40 percent and receive back even less.
Don’t believe the hype. We need to stop being a piggy bank.
June 22,2018
the staff of the Ridgewood blog
Trenton NJ, Following failed talks with Governor Phil Murphy, the state Senate this evening proceeded with passage of its own $36.5 billion budget as an alternative to Murphy’s version. The cornerstone of the budget would be a hike in corporate taxes .
The budget passed 21-17.Republican Senators Kristin Corrado and Kip Bateman voted yes on the budget and Democratic Senators Dick Codey, Nick Sacco, Nia Gill and Ronald Rice opposed it.
Assemblywomen Holly Schepisi summed it all up for New Jersey ,”Tonight the NJ Legislature passed a bill which increases our corporate business taxes to the highest in the nation. Here is a floor speech I gave highlighting some of the reasons I voted no. Representing a district that has recently lost Sony, Hertz and Mercedes, among other corporations, to more business friendly states I could not in good conscience vote to further eliminate our ability to compete.”
“This budget at the end of the day does nothing to make New Jersey more affordable,” said Senate Republican Leader Tom Kean, Jr. (R-21).
“NJ” Grapefruit martini
October 19,2017
the staff of the Ridgewood blog
Ridgewood NJ, while everyone was watching the Yankee game , the two candidates for New Jersey Governor had their second debate . Most New Jersey voters seemed to be resigned to coming calamity and have zero faith in New Jersey politicians .
Republican Kim Guadagno has attempted to stay on her tax cutting message . During the debate she appeared calm, confident and comfortable and in an attempt to distance her self from Governor Chris Christie , she unequivocally pledged not to appoint him to the U.S. Senate in the event that Senator Bob Menendez resigns.
Voters seem luke warm to her tax cut pledge , most feeling Trenton lakes any credibility and Kim often comes off sounding like former governor and EPA chief “the air is ok, barrow from the pensions” Whitman .
On the other hand Democrat Phil Murphy known as Corzine 2.0 , has promised to make New Jersey a “sanctuary state” , he says he will raise your taxes in a massive tax increase of $1.3 billion . He treads water and will not commit to extending the 2% arbitration cap for police and firefighter salaries and would not say weather the ethically challenged Democratic Senator Bob Menendez should resign if convicted of bribery. Murphy continues to push the Connecticut model, under the “tax the rich” mantra . The Connecticut model fell flat ,because the “rich” moved and so did General Electric and Aetna the states two largest tax payers and employers ,leaving Connecticut on the verge of bankruptcy and collapse .
In probably the most telling question in the debate , Murphy clams to like New Jersey grapefruit’s and broccoli yes you heard me , while Kim likes Jersey tomatoes and cranberries, once again proving that you can buy a nomination , but it helps to live here and know something about the state your trying to govern .
October 11,2017
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Ridgewood Nj, according to the New York Post page 6 , Robert De Niro and Harvey Weinstein had a top-secret meeting on Thursday, sources said, with Democrat front runner Phil Murphy ,yes that Phil Murphy (Corzine 2.0), the Democratic favorite to succeed New Jersey Gov. Chris Christie.The trio was said to be meeting in Tribeca at the Greenwich Street offices that house De Niro and Weinstein’s film companies. It appears Democrats still love that Weinstein money .
file photo Senate President Stephen Sweeney
Chase Brush | September 25, 2017
The teachers union faults the Senate president for his stand on public-employee pensions and school funding — and they want to make him pay.
What has 200,000 members, a deep-pocketed super PAC, and one of the most powerful presences in all New Jersey politics?
It’s the New Jersey Education Association, and it’s not to be trifled with.
That’s the apparent message being conveyed by the relevant-as-ever group this election season, as it continues to wield its influence in several state and local races following a hard-fought primary and ahead of a November general election. Through special-interest spending and public endorsements, the group has sought to advance its agenda by aligning itself with both Republicans and Democrats, ultimately making itself known in nearly every corner of the state.
The organization has issued endorsements in 37 out of 40 legislative districts, including one for Democrat Phil Murphy in the state’s high-profile gubernatorial election.
https://www.njspotlight.com/stories/17/09/25/njea-flexes-its-muscles-takes-on-sweeney/
