The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Ridgewood NJ, yes that’s right tax the rich but according to the New York Post analysis which found that almost 1,000 people a day are moving to Florida ,mostly from the northeast. Its seems high taxes, high crime rates and lock downs have taken there toll.
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Morris Plains NJ, the Appellate Division denied a request on Thursday to expedite proceedings for a New Jersey business that closed its door because of Gov. Phil Murphy’s back-to-back emergency COVID-19 executive orders, which have since resulted in the closure of more than one-third of the state’s small businesses.
Ridgewood NJ, The Murphy Administration has declared that restaurants and other establishments with outdoor tents must apply for a Uniform Construction Codes permit by Monday.
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Trenton NJ, Governor Phil Murphy at his October 29th Press conference called the latest rise in COVID cases New Jersey’s Second wave, the Governor said ,” I’m joined by a trio of outstanding individuals and great leaders. First by the woman who needs no introduction, the Commissioner of the Department of Health, Judy Persichilli; the State’s Epidemiologist, another very familiar face, Dr. Christina Tan, and another guy who needs no introduction, the Superintendent of the State Police, Colonel Pat Callahan. We will all get to today’s numbers in just a minute but here’s a bit of a spoiler alert. They continue to show that the second wave of the coronavirus is no longer something off in the future. It is coming, and it is coming now.”
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Morris Plains, NJ, After filing a lawsuit against Gov. Phil Murphy in September for his violations of the Disaster Control Act, the business owner who filed the suit says she must close her business
at the end of October.
Continue reading CKO Kickboxing That Sued Governor Murphy Has Decided to Shut Down for Good
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Trenton NJ, A new report shows that New Jersey ranks dead last in the nation for our overall Business Tax Climate. Delaware is 13th, Pennsylvania is 27th, and New York is 48th. New Jersey also ranks 46th in property taxes, 48th in corporate taxes, and 50th in individual taxes.
Continue reading New Jersey Ranks Dead last in the Nation for our Overall Business Tax Climate
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Ridgewood NJ, former vice president and Democratic presidential nominee Joe Biden’s tax plan takes another shot at the tri-state area . CNBC has already reported the massive tax increases to New Jersey, and New york residents . According to CNBC some New Jersey residents will be paying as much as 60% in taxes, New York State 58% , and New York City 62% .
Continue reading Biden’s Tax Plan Spells Doom for New Jersey
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New Brunswick NJ, New Jersey gained back half of the jobs lost due to the coronavirus pandemic but a wide disparity remains between higher-income professionals working at home and lower-wage support workers still bearing the brunt of the economic downturn that has gripped the nation, according to a new Rutgers report.
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Mahwah NJ, The New Jersey Business & Industry Association today said a bill that would impose a new tax on electronic stock trades processed in New Jersey could easily lead to exchanges leaving the state, resulting in a loss of jobs and tax revenue in yet another hit against New Jersey’s business competitiveness.
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Mahwah NJ, The New Jersey Chamber of Commerce opposes legislation (S-2902/A-4402) which would impose a new tax on financial transactions, such as electronic stock trades, that flow through major data centers in New Jersey.
Simply put, the tax could backfire on New Jersey. The mere discussion of this tax has caused several stock exchanges to begin exploring moving their data centers out of New Jersey – to states that don’t impose such a tax. Last month, the New York Stock Exchange, which has a data center in Mahwah, N.J., said it ran one of its exchanges from a back-up data center in Chicago to demonstrate its readiness to move out of New Jersey. Two other exchange operators, Nasdaq Inc. and Cboe Global Markets Inc., also indicated that they would leave New Jersey over the tax. If New Jersey loses data centers, the state would actually be looking at less revenue and less jobs.
Continue reading Financial Transition Tax Will Drive Data Centers Out of New Jersey
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Morristown NJ, On October 2nd, the United States Bureau of Economic Analysis issued its report on the Gross Domestic Product (GDP) by State for the 2nd Quarter of 2020. The report, which covers April through June, is the second GDP report to show the impact of the COVID-19 pandemic on the U.S. economy.
Continue reading New Jersey’s real GDP fell at a 35.6% annual rate in the second quarter
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Trenton NJ, NJBIA President and CEO Michele Siekerka issued the following statement regarding the revised FY2021 State Budget signed today by Gov. Phil Murphy.
Continue reading Governor Murphy budget will do great damage to New Jersey businesses and taxpayers
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Trenton NJ, Several bills up for committee votes today will make the proposed FY2021 budget revision go from bad to worse, the New Jersey Business & Industry Association testified today.
NJBIA Vice President of Government Affairs Christopher Emigholz told the Assembly and Senate Budget committees today that adding another $500 million in borrowing to the already unnecessary $4 billion in borrowing submitted by Gov. Phil Murphy is wholly irresponsible.
Continue reading $4 billion in New Borrowing Submitted by Governor Murphy is Wholly Irresponsible
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Mahwah NJ, On September 26th, next Saturday, all U.S.-based stock exchanges will simulate a day’s worth of trading using their backup sites in the Midwest. The test is a dry run for relocating the data processing permanently should New Jersey go through with its new financial transactions tax, which targets New York-based stock exchanges that currently rely on electronic infrastructure located across the river in New Jersey.
