Tag: taxes

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Reader says , “Let’s face it, empty nesters won’t be moving to Ridgewood, but they’ll be moving out”

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” Let’s face it, empty nesters won’t be moving to Ridgewood, but they’ll be moving out. The village would need to accommodate more kids either way. It’s therefore reasonable that property taxes would keep creeping up. The best residents can do is closely monitor and influence village spending… and welcome newcomers by sharing best practices that made this place a desirable upper middle class destination in the first place. A passive aggressive approach doesn’t help anyone. And btw, many of NYC newcomers are conservatives, escaping liberal paradise of urban sprawl! You’ll be surprised – you may make some good friends with newcomers! “

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Tax Freedom Day For New Jersey Residents Falls on April 30th!

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the staff of the Ridgewood blog

Ridgewood Nj, just a reminder New Jerseyans, you have to work longer than residents of every other state, except one New York to cover your tax bill and enjoy Tax Freedom Day . Its April 30th this year . This is just another sign NJ is moving in the wrong economic direction and no in Trenton cares.

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H&R Block: average tax liability nationwide was down 25 percent while refunds were up 1 percent

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the staff of the Ridgewood blog

Ridgewood NJ, Josh Gottheimer and the socialist Democrats have continued to falsely vilify the GOP tax cuts that provided Americans with more money in their pockets.

And with Tax Day come and gone, there are some uncomfortable facts emerging that directly contradict Gottheimer’s bogus narrative.

Continue reading H&R Block: average tax liability nationwide was down 25 percent while refunds were up 1 percent
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Do you file jointly in NJ? This GOP lawmaker wants to remove your tax penalty.

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the staff of the Ridgewood blog

Trenton NJ, When married couples approach tax season, the best option is usually to file a joint tax return. But that’s not always the case.

New Jersey is one of 24 states with a marriage penalty built into its income tax brackets. It taxes married couples 140 percent more on their income between $20,000 and $70,000.

Continue reading Do you file jointly in NJ? This GOP lawmaker wants to remove your tax penalty.
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New Jerseyans Feel Overtaxed, Unloved and Dissatisfied With State Government

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the staff of the Ridgewood blog

Ridgewood NJ, As Tax Day approaches, about eight in ten New Jerseyans feel they pay too much in taxes and are not happy with what the state government is doing about the affordability of living in the Garden State, according to the latest Rutgers-Eagleton Poll, conducted in collaboration with the New Jersey Business & Industry Association (NJBIA).

Eighty-two percent of residents think they pay too much in taxes for what they get, and large majorities believe the taxes they pay – namely, property taxes (79 percent), the 41.4 cent gas tax (77 percent), and the state income tax (62 percent) – are unfair. Only the sales tax sits well with residents, with over half (58 percent) saying the tax is reasonable.

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WalletHub Study Puts New Jersey’s Tax Burden as 7th Highest in USA

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the staff of the Ridgewood blog

Ridgewood NJ, With Tax Day fast approaching and the new tax code taking effect this year, the personal-finance website WalletHub today released its 2019 Tax Burden by State report as well as accompanying videos, along with its 2019 Tax Facts infographic.

In order to determine which states tax their residents most aggressively, WalletHub compared the 50 states based on the three components of state tax burden — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income.

Tax Burden in New Jersey (1=Highest, 25=Avg.):

  • 7th – Overall Tax Burden (9.86%)
  • 3rd – Property Tax Burden (5.05%)
  • 22nd – Individual Income Tax Burden (2.40%)
  • 43rd – Total Sales & Excise Tax Burden (2.41%)

For the full report, please visit:
https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/

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Worries Spread Over New Jersey Tax Revenue Short Fall

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the staff of the Ridgewood blog

Trenton NJ, Worries about a shortfall in New Jersey’s tax revenue continue after testimony by the state treasurer before an Assembly budget panel Monday.

Revenues are $310 million below current spending levels for the fiscal year that began in July, state Treasurer Liz Muoio confirmed to lawmakers.  Adjusted appropriations for the fiscal year 2019 budget totals $38 billion while revised revenues presented today are expected to be only $37.7 billion.

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Jersey First President Rosemary Becchi , “The financial problems with New Jersey’s government finances are rooted largely in the state’s largest liability, the state pension system”

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“New Jersey has become increasingly unaffordable for most of us. This budget will make that problem much worse.”

the staff of the Ridgewood blog

Trenton NJ, Jersey First President Rosemary Becchi Urges Legislature to Act on Pension & Benefits Reform during Assembly Budget Hearings

Jersey First President Rosemary Becchi testified against the adoption of Gov. Murphy’s proposed 2020 Fiscal Year Budget today, urging the Assembly Budget Committee to first grapple with the root causes of New Jersey’s financial crisis and end policies that are forcing families and businesses to move out of the state.

Continue reading Jersey First President Rosemary Becchi , “The financial problems with New Jersey’s government finances are rooted largely in the state’s largest liability, the state pension system”
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Tax Madness and One Party Rule Has Destroyed the New Jersey Economy

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the staff of the Ridgewood blog

Assemblywoman Holly Schepisi on the imploding New Jersey economy

“One Party Rule in New Jersey has brought us Tax Madness. We can’t keep doing things the same way. Time to mix things up in Trenton!

2018 job growth was slowest since 2011 and about half of national rate: .95 percent in N.J. v. 1.8 percent nationally. MADNESS

22 new taxes since Murphy took office. MADNESS

$2.25 billion in more taxes. MADNESS

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70 Percent of New Jersey CPAs Polled Say Governor Murphy’s Proposed Budget Will Make NJ’s Economy Worse

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the staff of the Ridgewood blog

ROSELAND, N.J. – Governor Murphy’s proposed budget will make the state’s economy worse over the long term, according to 70 percent of nearly 500 New Jersey CPAs polled by the New Jersey Society of Certified Public Accountants (NJCPA) earlier this month. More than 38 percent of respondents said the state’s economy would become “significantly worse” and 32 percent said it would become “marginally worse.” Only 12 percent said it would be better and 17 percent said it would “stay the same.”

Of those who responded negatively, most cited Governor Murphy not focusing enough on the amount of spending on public pension benefits in New Jersey in his budget proposal; high property taxes for both residents and businesses in the state; and implementation of the millionaire’s tax.

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Reader says , “our politicians, will find a way to spend more than they take in”

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” Sorry to write it but legalized hooch will bring in significant revenue. NJ is the most densely populated state in the union. That fact alone will create a booming business. However, the issue is no matter how much revenue generators are blessed by our politicians, they will find a way to spend more than they take in…and that is the moral hazard we face as voters. “

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Reader says Legal Weed ,”big tax revenue will never materialize”

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Marijuana is a gateway drug.
Every opioid and heroin addict began with marijuana .
The drug dealers will still be the biggest suppliers since their weed will be cheaper than the “legal” version with the big tax on it… And the big tax revenue will never materialize, just as the gas tax increase caused a decrease in gallons since the truckers no longer bought cheaper diesel here and the promised extra money never materialized.. How do you like the roads in 2019? Worse than ever with potholes
Do you Really expect drug dealers to collect tax ?….
This will go over like a fart in church.

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Reader says , “Weed is about the Bucks “

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” I think we’re way beyond weed and all its uses, benefits, and pitfalls when it comes to the state of NJ. It’s about the bucks. Much like the buzz about gambling in AC being the magic bullet to solve New Jersey’s financial woes, weed is looked at as a new cash crop to fill our tax coffers with green. We have a 40+ year view on legalized gambling and see only bankrupt casinos, lives ruined, and power-broker pockets lined. The state lottery, online gambling, sin tax on tobacco, etc…all failures in helping people. Only more money for politicos to piss away. Only with weed, we have more stoners and fewer earners. Is it any wonder why our taxes are so high? Maybe we should legalize prostitution so we can tax sex workers while we’re at it. Murphy (or any GOP gov) and company should be focused on how to help people succeed rather than keep the citizens dumbed down and wasted. Decriminalize individual use of cannabis and penalize illegal distribution, much like alcohol laws. “

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Murphy’s Budget Proposal Does Not Help Middle Class

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the staff of the Ridgewood blog

Trenton NJ, Gov. Phil Murph’s budget proposed fiscal year 2020 budget will do nothing to help the middle class and will likely do more to harm the state’s economy said Assemblywoman BettyLou DeCroce (R- Morris, Essex Passaic).

DeCroce said the governor’s plan to increase spending and taxes and broadening programs, such free county college tuition, will not reduce property taxes — the number one issue for the middle class in New Jersey.

“The governor says repeatedly he wants to help the middle class, but he actions do not back up his statements,” said DeCroce

“The governor wants the state to spend more money; he wants to expand programs and increase school funding. But the state cannot afford the programs it has now, so how is increasing taxes and spending more money help the middle class?” asked DeCroce.

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Ranking Republican on Senate Judiciary Committee says Pot deal is a “shameful abdication of our duty to protect public health and safety”

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the staff of the Ridgewood blog

Trenton NJ, Senator Gerald Cardinale (R-39) released the following statement in response to news that Governor Phil Murphy and Legislative leaders have reached a deal on legalizing marijuana for recreational use.

Senator Cardinale has been one of the Legislature’s most vocal opponents of the bill. In November, he testified before the Budget Committee in opposition to the legislation. He also released an expansive data book containing peer-reviewed studies that demonstrate the dangers of legalizing marijuana for recreational use.

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