Posted on 04/10/2016 6:13:49 AM PDT by NYRepublican72
Liberals, progressives, collectivist....you know all the vampire tax blood suckers...
Oh' and Bernie Sanders supporters!!!
They are trying. EXIT TAX introduced last session died in committee. Watch it come up again.
NJ millionaires are fleeing due to the raising of the estate tax, and the new "inheritance" tax.
I just read that more millionaires are leaving Chicago than any other US city. The exodus from the blue states is well underway.
My old thread said that his BILLIONS of taxable income tax, property tax, business tax, corporate tax, dividend (capital gains tax), etc was the equivalent of 20,000 blue collar jobs.
It is going to HURT.
Florida is not my cup of tea. But for $140,000,000, I could get used to sunshine in the Winter.
...
Reads to me like he isn’t actually a resident of Florida, but is technically making it his home for tax purposes.
I’m pretty sure losing 140 million dollars won’t destroy NJ.
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Maybe not, but a continued trickle out of more wealthy people will. Those who haven’t yet seriously considered leaving for less financially burdensome states may soon decide to do so. The cumulative effect on NJ could reach destructive levels.
I'm shocked more haven't left already. Here in CA we are closer to the Mexico border and have Latino's replacing the fleeing taxpayers. I'd leave too if I could.
The greatest damage to New Jersey’s s gravy train is not the loss of Tepper’s $140,000,000 annual tax confiscation, but the loud and clear signal he has sent to the remaining cash cows to get out quickly before only a few are left to shoulder the entire burden. Like all children’s games, Musical Chairs taught an important life lesson. Now the race is on to see how many will flee before new capital control laws trap their assets in the Garden State.
But....but....I thought the mean, evil rich people didn’t pay their fair share of taxes.
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A most excellent comment!
I hereby nominate it for the Post of the Day Award.
I am actively looking to get out.
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The wheels are already in motion for me to leave the insane blue state I live in. I’ve had enough. Already own a home in the state I’m moving to.
Exactly right. You nailed it.
Oh' yes...all those rich bankers who live in Northern Jersey and commute to the city everyday I'm sure took notice...
...and their wives, boyfriends and mistresses...LOL
If you’re wealthy you must be greedy, evil, exploitative and selfish — unless that is, you happen to be a liberal. Then its OK to have lots of money because you are smart and savvy. /sarc
Bingo! Good post.
They have a property (home) exit tax, but they are working on an income (private post-taxed wealth) tax now.
So if you make$1mm in NJ:
Federal tax + Obama care is 43.4% tax...
NJ State income tax is 9%
Want to live in Tony Soprano's house? Property tax = $$31,828/yr. (Doubled from 2004)
Essex County Taxes
Garbage tax
Grocery Tax
gas tax,
Toll roads every block
Taxes on toll roads
taxes, Taxes, TAXES. You are left with less than 400,000. NOw you have to pay house property tax and car tags, tolls, etc. You're lucky to keep 200,000k at the end of the year.
If you die, the NJ gets 50% of your 1mm ...which is 500,000.00....guess what, you only have 200,000.00 . Now your wife and kids lose your home, business, cars, etc if you didn't save for the estate tax or have a trust set up (Dont worry, NJ will go for those assets too one day).
I don't know how any sane patriot could live there....and thats on the anti gun laws themselves!
What took this financial genius this long before moving?
How much money did he throw down a rat hole?
He’s the biggest fool.
Just click HERE and type in 14 Aspen Way, North Caldwell, NJ. Look at the VAST SEA of red (for sale) homes in NJ just west of Manhattan.
They are fleeing in droves.
Sell your NJ home now, rent for three years and escape to Florida
Good for him. Screw the Freeloaders.
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