Tag: Ridgewood Real estate

Hey PJ,

What happened? I leave for vacation and the place goes to hell?? Lol

So, Al gets another letter in TRN? Saw it today. Maybe next week we will have Mary Walker’s response to Al’s response to Mary’s response to Al’s letter.

I may have to quit buying TRN again. My dogs have already been paper trained.

W.T.F.

Partisan politics and Fourth of July festivities
Friday, August 3, 2012
The Ridgewood News

Partisan politics and Fourth of July festivities

To the Editor:

In answer to the responses I’ve seen on the Tea Party and the Fourth of July parade, let me say that it’s not my place to judge the ideas of the Tea Party or to question the patriotism of its members. But it does not represent everyone, and, despite its rhetoric, it does not have the market cornered on patriotism.

Across this state and this country, this self-described grassroots movement is very active in the political process, including campaigns and elections, and in some places it is embedded in the inner workings of the Republican Party. Anyone who doubts that the Tea Party is a political action movement with a specific political agenda need only look at its literature or go online to one of its websites and read its manifesto. It’s all there in plain sight.

As for the parade, most Ridgewood residents I’ve heard from prefer a non-partisan, patriotic celebration of the Fourth that highlights community service.

A few residents I’ve talked with think it should be open to political movements such as the Tea Party. But I believe that demeans the parade and reduces it to a demonstration platform for any political movement or party.

Ridgewood’s parade has been special because it consisted of those residents and people from neighboring towns who make our community and our country better through their service and sacrifice, and they do so without regard to anyone’s politics or views on taxes or immigration, or how publicly we choose to wear our appreciation of the Declaration of Independence and the Constitution.

The Tea Party is unlike any other participant in this event, and I believe that many of us don’t want it or any other partisan political group in our parade.

Al Ortiz
Ridgewood

https://www.northjersey.com/news/opinions/164846506_Letter__Partisan_politics_and_Fourth_of_July_festivities.html

How the States Would Be Affected by Extension of the Bush Tax Cuts and Other Provisions
August 3,2012
Andrew Lundeen – Tax Foundation

With just five months to go until the largest tax increase since World War II, a.k.a. “Taxmageddon”, some people are getting concerned about the impact on the economy. This week the House will vote on a GOP proposal to extend through 2013 the Bush tax cuts of 2001 and 2003 and the Alternative Minimum Tax (AMT) patch, two of the largest components of Taxmageddon.

The larger of these is actually the AMT patch, which would save middle- and high-income taxpayers about $193 billion, according to the Joint Committee on Taxation (JCT). Extension of the Bush tax cuts, which are more evenly distributed, would save taxpayers about $179 billion. The bill also extends for one year estate and gift tax provisions, saving taxpayers $31 billion, and small business expensing, worth $581 million.

The total tax relief is estimated at $403 billion, or about 2.7 percent of the economy, and almost all of it would be immediately felt in 2013. As such, it would forestall many of the economy crushing aspects of Taxmageddon, while setting the stage for comprehensive tax reform next year.

All 50 states would benefit from this bill, though some more than others. Table 1 shows our estimates of the tax relief for each state, based on the latest IRS data on the distribution of income, tax credits, and deductions within each state. The first column is total aggregate tax relief in millions of dollars, the next column is tax relief as a share of state income (AGI), and the last column is tax relief per tax filer.

Generally, high-income states would receive the largest tax relief, because they pay the most taxes under our extremely progressive federal income tax code. They are also the states most affected by the AMT. New York, for instance, would save about $50 billion in taxes, or 7.99 percent of income, if these tax cuts were extended, including the AMT patch. That amounts to $5,418 per tax filer. More than half of that (62 percent) is due to the AMT patch. California would save about $71 billion in taxes, or 6.87 percent of income, if all tax cuts were extended. That amounts to $4,229 per tax filer. Again, more than half of that (60 percent) is due to the AMT patch.

At the other end of the spectrum, Mississippi would save about $1.7 billion in taxes, or 3.19 percent of income, if all tax cuts were extended. That is $1,327 per filer. Less than 1/3rd (28 percent) of that is due to the AMT patch. Tennessee would save about $4.4 billion in taxes, which is 3.21 percent of income or $1,533 per tax filer. Only about 1/4th of that is due to the AMT patch.

https://taxfoundation.org/blog/how-states-would-be-affected-extension-bush-tax-cuts-and-other-provisions

‘Real’ Unemployment Rate Shows Far More Jobless
Published: Thursday, 2 Aug 2012 | 2:52 PM
By: Jeff Cox
CNBC.com Senior Writer

While the national unemployment rate paints a grim picture, a look at individual states and their so-called real jobless rates becomes even more troubling.

The government’s most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed — wanting to work full-time but forced to work part-time.

For that count, the government releases a separate number called the “U-6,” which provides a more complete tally of how many people really are out of work.

The numbers in some cases are startling.

Consider: Nevada’s U-6 rate is 22.1 percent, up from just 7.6 percent in 2007. Economically troubled California has a 20.3 percent real rate, while Rhode Island is at 18.3 percent, more than double its 8.3 percent rate in 2007.

Those numbers compare especially unfavorably to the national rate, high in itself at 14.9 percent though off its record peak of 17.2 percent in October 2009.

Only three states — Nebraska (9.1 percent), South Dakota (8.6 percent) and North Dakota (6.1 percent) — have U-6 rates under 10 percent, according to research from RBC Capital Markets.

https://www.cnbc.com/id/48468748

Photo by Boyd Loving

‘When it rains, it [really does] pour,’ according to study of extreme weather

If it seems like when it rains, it pours these days, it apparently is more often the case.

At least that is the conclusion of a new study by Environment New Jersey, which analyzed reams of state data from the National Climatic Data Center dating back to 1948 through 2011.

Photo by Boyd Loving

The new report found that heavy downpours that used to happen every 12 months on average in New Jersey now occur every nine months on average. Moreover, the biggest storms are getting bigger. The largest annual storms in New Jersey now produce 22 percent more precipitation, on average than they did 65 years ago, according to the study.  (Johnson, NJ Spotlight)

https://www.njspotlight.com/stories/12/0802/2148/