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Governor Murphy budget will do great damage to New Jersey businesses and taxpayers

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the staff of the Ridgewood blog

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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Reader says , “This is what happens when the Government becomes too large and has way to many programs of assistance”


“This is what happens when the Government becomes too large and has way to many programs of assistance. The highest income taxes, property taxes, sales tax, gas tax, toll roads. The cost of living is out of control. People run out of this State as soon ad they can yet the State insists on being a Sanctuary State. Giving away billions to those who were oppressed in their own country and catering to their wishes. With a small and nimble Government this State could be in a much better place. Take a five mile high look and you’ll see all the waste. It’s not an easy task nor should it be. Just do it and so it now.”

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Ridgewood Blog Presents the Big Zucchini Awards for 2018

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the staff of the Ridgewood blog

Ridgewood NJ, the Ridgewood blog wanted to close out 2018 with the Big Zucchini awards . After consulting many readers and staff ,most came up with a similar list ,however one respondent listed them all .

A Big Zucchini is given for what readers and staff consider the biggest screwups in the Village of Ridgewood for 2018, but remember a screwup to one is a triumph to another.

Almost everyone listed the first two

Approval of $12 million parking garage.

Purchase of Elks Club property.

“Lemon” leaf vacuum.

Unauthorized payments to Parkmobile.

Horrendous leaf pickup process

Increased parking meter and hang tag fees.

Closing Village Hall for ½ day to facilitate installation of generator.

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Tax Facts: Getting Beyond All the Talk About New Jersey’s Taxes

for sale Ridgewood_Real_Estate_theRodgewopodblog

file photo by Boyd Loving

John Reitmeyer | September 13, 2017

More taxes, no new taxes, higher taxes, marijuana taxes, corporate taxes, tax relief, and even a new tax structure — it’s definitely an election year in the Garden State

Tax reform is becoming a hot topic in Washington, D.C., as President Donald Trump is looking for Congress to cut both corporate and personal income-tax rates. Similarly, the future of New Jersey tax policy is also expected to become a key issue in Trenton once the state welcomes its next governor early next year.

Democrats who control New Jersey’s Legislature signaled several months ago as they were hashing out a new state budget with Gov. Chris Christie that they would be pushing once again for a millionaires tax to bring in more funding for local school districts once the term-limited Republican governor leaves office in January 2018.

And if Democratic gubernatorial candidate Phil Murphy ends up winning the gubernatorial election in November — something that the latest public-opinion polls suggest is likely — legislative leaders should find a willing partner. Murphy’s own fiscal platform includes a call for enacting a higher levy on the state’s wealthiest residents, among other tax-policy changes.

But even if Murphy’s opponent, Republican Kim Guadagno, ends up pulling off an upset, she’s also talking about tax reform. The centerpiece of her economic agenda is a more than $1 billion “circuit breaker” property-tax relief initiative.

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Phil Murphy aka Corzine 2.0 Exposed For Exploiting Election Law Loopholes

Tax and Spend Democrat Phil Murphy for Governor
October 23,2016
the staff of the Ridgewood blog

Ridgewood NJ, This week, presumptive Democrat Gubernatorial nominee and Corzine retread was exposed by WikiLeaks for exploiting loopholes in election law to further his political ambitions.

Democrats are poised to nominate another Wall-Street insider with expert knowledge on exploiting election laws to further his candidacy. The most recent revelations in the saga on Corzine 2.0 (aka- Phil Murphy) came after WikiLeaks furnished e-mail correspondence between Murphy and DC insider and Clinton advisor John Podesta, who has been at the heart of the latest WikiLeaks scandals.

Murphy has already spent a boat-load of money on television and print advertising claiming to be an outsider, but the latest leaked e-mails paint a much different picture of a politician that knows how to use his own money to get his way.

Murphy established a tax-exempt non-profit organization, allowed to take unlimited money without disclosing its donors, in a clear attempt to bolster his Gubernatorial ambitions. Under the law, this organization was supposed to be a “social welfare organization”, allowed to engage in political activity, but not as its primary mission.

As reported by WNYC News, While Murphy said publicly that this was simply a public advocacy think-tank, privately in e-mails to John Podesta, disclosed that the group was formed to boost his name ID as he was “VERY serious but not yet committed” to run for Governor.

With a direct line to one of Clinton’s main advisors and after his shameless acceptance of endorsements of corrupt county bosses and Trenton’s largest special interest group, the NJEA, Murphy’s wasted no time making it clear to voters that he is just another political insider with Wall Street values pretending to be someone he’s not to get elected.

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“Another”Goldman Veteran on Fast Track in New Jersey Governor’s Race

Tax and Spend Democrat Phil Murphy for Governor

More than a year before New Jerseyans choose a replacement for Republican Governor Chris Christie, former Goldman Sachs Group Inc. executive Philip D. Murphy has lost a major competitor for the Democratic candidacy.

Murphy, 59, who most recently was U.S. ambassador to Germany, secured the endorsement of Senate President Steve Sweeney, a Democrat who announced Thursday that he won’t run for the state’s highest office. On Sept. 28, Jersey City Mayor Steven Fulop, a 39-year-old former investment banker, said that he, too, won’t run, and threw his support behind Murphy.

“The party is coalescing around Phil,” Sweeney said in a Thursday interview. “As a Democrat, I’m going to support Phil Murphy.”

Murphy’s rise parallels that of Jon S. Corzine, 69, the Democrat and onetime Goldman co-chairman whom Murphy has called a friend. Corzine, a multimillionaire who grew up on a farm in Illinois, was elected governor in 2005, declaring in his inaugural address, “Hold me accountable.”

He was defeated for a second term by Christie, 54, who ran on a promise to restore stability as New Jersey plunged into economic recession. Term limits prevent Christie from running for a third term in 2017. He abandoned his presidential campaign in February, became a surrogate and adviser to nominee Donald J. Trump and reached a new low in recent polls as voters disapproved of his handling of state finances.

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Gottheimer/Clinton tax plan will Hit Bergen County Residents Especially Hard

Joshua S

August 23,2016

the staff of the Ridwood blog

Ridgewood NJ, As a professional political operative, Josh Gottheimer knows how to lie to voters in order to get what he wants. He helped Bill Clinton do it for years.

Now, Josh Gottheimer is lying to Fifth District voters about being a “fiscal conservative ” ,when in reality, he supports Hillary’s extreme tax agenda.

This is an agenda that will hit residents of the Fifth District even harder than average Americans . Bergen County already ranks #17 in the country in taxes paid out of 3,007 counties nationwide. The average amount in taxes paid per Bergen County resident is $17,889 and the Gottheimer/Clinton Tax plan will make that number even higher.

Gottheimer learned to lie from the best . Voters may remember that then Senator Hillary Clinton pledged she would not raise taxes on the middle class, then voted repeatedly to do so, including voting in favor of raising taxes on individuals earning as little as $41,500.

The Clintons expect loyalty from those they’ve helped, so will Josh Gottheimer do what he’s always done, and advance the wishes of his biggest patrons by supporting Clinton’s tax plan.

Clinton’s tax plan is bad for Fifth District voters. It means less money in our wallets, less money for our retirement accounts, and fewer job opportunities.

The Tax Foundation has data on what the Gottheimer/Clinton tax plan has in store for voters, and it’s not good:

Table 1. Tax Brackets under Hillary Clinton’s Tax Plan
Ordinary Income Capital Gains and Dividends Single Filers Married Filers Head of Household
10% 0% $0 to $9,275 $0 to $18,550 $0 to $13,250
15% 0% $9,275 to $37,650 $18,550 to $75,300 $13,250 to $50,400
25% 15% $37,650 to $91,150 $75,300 to $151,900 $50,400 to $130,150
28% 15% $91,150 to $190,150 $151,900 to $231,450 $130,150 to $210,800
33% 15% $190,150 to $413,350 $231,450 to $413,350 $210,800 to $413,350
35% 15% $413,350 to $415,050 $413,350 to $466,950 $413,350 to $441,000
39.6% 20% $415,050 to $5 million $466,950 to $5 million $441,000 to $5 million
43.6% 24% $5 million and above $5 million and above $5 million and above
  • Enacts the “Buffett Rule,” which would establish a 30 percent minimum tax on taxpayers with adjusted gross income (AGI) over $1 million – this hurts job-creating small businesses in the Fifth District.
  • Caps all itemized deductions at a tax value of 28 percent.
  • Adjusts the schedule for long-term capital gains by raising rates on medium-term capital gains to between 27.8 percent and 47.4 percent (Table 2).


Table 2. Top Marginal Long-Term Capital Gains Tax Rate Schedule under Hillary Clinton’s Tax Plan
Years Held Marginal Tax Rate Net Investment Income Tax Surtax on incomes over $5 million Combined Rate on Capital Gains
Less than One 39.6% 3.8% 4% 47.4%
One to Two 39.6% 3.8% 4% 47.4%
Two to Three 36% 3.8% 4% 43.8%
Three to Four 32% 3.8% 4% 39.8%
Four to Five 28% 3.8% 4% 35.8%
Five to Six 24% 3.8% 4% 31.8%
More than Six 20% 3.8% 4% 27.8%
  • Limits the total value of tax-deferred and tax-free retirement accounts.*
  • Taxes carried interest at ordinary income tax rates instead of capital gains and dividends tax rates.*


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Who’s got N.J. pension amnesia? Christie or candidate Phil Murphy?

Tax and Spend Democrat Phil Murphy for Governor


The Auditor always loves a good fact-check, so when Gov. Chris Christie took aim at 2017 candidate for governor Phil Murphy over pensions, it was clear that merriment would soon abound. The Auditor, Read more

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Welcome to the “Keynesian black hole”, Negative central bank interest rates

Black Hole

Mapped: Negative central bank interest rates now herald new danger for the world

Negative rates are becoming the “new abnormal” in a shaky world economy. With fresh panic hitting markets, are we finally hitting the limits of what monetary policy can achieve? Click on the countries to find out

The world’s tentative experiment with negative interest rates got off to an unremarkable start.

Sweden’s Riksbank – the world’s oldest central bank – became the first major monetary authority to cross the rubicon and take its main policy rate into the red exactly a year ago to the month (see map above).

The Riksbank’s move followed the likes of Switzerland and Denmark, who had turned negative in a bid to stimulate flagging inflation and halt the punishing appreciation of their currencies.