Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

As Murphy vows millionaires tax, Christie says Jersey will be sorry if rich people flee
NJ Advance Media for NJ.com ^ | January 13, 2018

Posted on 01/14/2018 5:13:29 AM PST by SMGFan

Higher taxes on millionaires coming this year?

Not so fast, says a report by the outgoing administration of Gov. Chris Christie.

The report, released Wednesday, warns of the financial repercussions of spooking wealthy residents into fleeing the Garden State. When the very rich leave, the report says, it has an outsized impact on New Jersey tax collections.

The report reflecting on 24 years of taxpayer movement in and out of New Jersey comes days before Gov.-elect Phil Murphy, who has said he wants to raise taxes on income over $1 million, takes office.

Christie himself has warned that wealthy residents are already fleeing New Jersey for lower tax states like Florida and any increase in the top tax rate -- currently 8.97 percent on income over $500,000 -- will fuel this outmigration.

(Excerpt) Read more at nj.com ...


TOPICS: News/Current Events; Politics/Elections; US: New Jersey
KEYWORDS: taxes
Navigation: use the links below to view more comments.
first 1-2021-24 next last

1 posted on 01/14/2018 5:13:30 AM PST by SMGFan
[ Post Reply | Private Reply | View Replies]

To: SMGFan

I’ll bet that Christie moves to Florida, at least for half the year plus one day!


2 posted on 01/14/2018 5:15:07 AM PST by Ann Archy (Abortion....... The HUMAN Sacrifice to the god of Convenience.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

Sooner or later, they will run out of people to rob, er, tax.....


3 posted on 01/14/2018 5:15:38 AM PST by cranked
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

When facts stating that higher taxes on the rich did not net more tax income for the government, then President Obama said something like, “It’s not about money, it’s about fairness.”

It astonished me that liberals over and over will increase taxes and net less money, yet they keep doing it. The special taxes in Seattle are a case in point. Practically every social justice tax they’ve tried has backfired. But they keep it up, because it’s not about money...it’s about stupidity.


4 posted on 01/14/2018 5:23:52 AM PST by Gen.Blather
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

They will flee and go somewhere nice to fund liberal politicians there who implement failed policies and dumb decisions to ruin whole areas.


5 posted on 01/14/2018 5:29:00 AM PST by Moorings
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

Chris Crisco knows you don’t kill the goose that lays golden eggs. His successor doesn’t.


6 posted on 01/14/2018 5:34:07 AM PST by elcid1970 ("The Second Amendment is more important than Islam.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

Taxing the rich has worked so well in Connecticut - it’s only dropped income generated from taxes by $4 billion

Go for , NJ!


7 posted on 01/14/2018 5:36:34 AM PST by KosmicKitty (Opportunities multiply as they are seized.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

All they need to do in the PRNJ is raise the exit tax, and that will keep all the millionaires in the state. /s


8 posted on 01/14/2018 5:53:03 AM PST by Fresh Wind (Hillary: Go to jail. Go directly to jail. Do not pass GO. Do not collect 2 billion dollars.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan
How many New Jersey residents with an income of more than $1,000,000 own just one home and spend more than 183 days in any one place? I didn't make anything near that much, but in my road warrior days I was out of the state for longer than that, and I wasn't even trying.

I don't know if there is going to be as much of a physical outflow of people as there is of an inflow of Florida license plates on cars and Florida boat registrations. I expect that the state is going to see a substantial fall in tax revenues -- beginning in 2018.

9 posted on 01/14/2018 5:57:53 AM PST by Sooth2222 (“Toute nation a le gouvernement qu’elle mérite.” ("Every nation has the government it deserves.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sooth2222

Why does anyone stay in NJ, except that it might be cheaper than NYC? If you liked Philly you would move to PA. I do not know of anything in this state that recommends it. For me, it has never been anything more than an expensive drive-through on the way to somewhere else.


10 posted on 01/14/2018 6:26:40 AM PST by beef
[ Post Reply | Private Reply | To 9 | View Replies]

To: SMGFan

Massachusetts will be passing a “Millionaire’s” tax this year by instituting a Graduated Income Tax with the top rate being 9%.

Just like other states where this has occurred, the top earners will be skipping just across the boarder to the lower tax states.

NH will probably be a big beneficiary of Mass’s new income tax starting in 2019.


11 posted on 01/14/2018 6:28:23 AM PST by CapnJack
[ Post Reply | Private Reply | To 1 | View Replies]

To: SMGFan

As long as they don’t come to Texas.


12 posted on 01/14/2018 6:40:16 AM PST by zeugma (I always wear my lucky red shirt on away missions!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CapnJack

“NH will probably be a big beneficiary of Mass’s new income tax starting in 2019.”

Just what the formerly red state of NH needs..more Massholes.


13 posted on 01/14/2018 6:54:55 AM PST by Bonemaker
[ Post Reply | Private Reply | To 11 | View Replies]

To: SMGFan

With the exception of the Jersey Shore and the superb mini farms, aka gardens, much of NJ would qualify for what President Trump called Haiti.


14 posted on 01/14/2018 6:56:22 AM PST by Grampa Dave (America had regime change 20 Jan 2017! ISIS collapsed! Are Iran/Our media, the DNC/FBI/DOJ/CIA next?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave
With the exception of the Jersey Shore and the superb mini farms, aka gardens, much of NJ would qualify for what President Trump called Haiti.

Obviously, you have never been to NJ

Yes, some of the state is a S===hole, but over all it's a beautiful state, un-affordable but used to be a great place to live.

15 posted on 01/14/2018 7:02:42 AM PST by Popman (My sin was great, Your love was greater  What could separate us now…)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Grampa Dave
...much of NJ would qualify for what President Trump called Haiti.

PARTS of New Jersey would qualify. Most of them (Camden, Newark, Trenton) have been run by the RATs for generations. There are a few lesser populated backwater rural areas that qualify as well, but they are disappearing with development.

16 posted on 01/14/2018 8:29:23 AM PST by JimRed ( TERM LIMITS, NOW! Build the Wall Faster! TRUTH is the new HATE SPEECH.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: JimRed

Camden/Newark and Newark’s airport in the late 1960/70’s was like a third world area then.

I can’t imagine how bad those areas you mentioned, are now.


17 posted on 01/14/2018 8:33:06 AM PST by Grampa Dave (America had regime change 20 Jan 2017! ISIS collapsed! Are Iran/Our media, the DNC/FBI/DOJ/CIA next?)
[ Post Reply | Private Reply | To 16 | View Replies]

To: SMGFan

The new governor is an idiot. There was one rich person who fled New Jersey due to high taxes, and his leaving basically blew a $150 MILLION hole in the budget.

Does anybody have that pic of that guy trying to whack a fly off his nose with a sledgehammer?


18 posted on 01/14/2018 8:41:10 AM PST by Tolerance Sucks Rocks (Happy New Year! Screeeeewwwww 2017!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CapnJack
NH will probably be a big beneficiary of Mass’s new income tax starting in 2019.

And so will New Hampshire's Democrat politicians, as the new Massholes flocking into the state will typically vote Democrat once more.

19 posted on 01/14/2018 8:42:53 AM PST by Tolerance Sucks Rocks (Happy New Year! Screeeeewwwww 2017!)
[ Post Reply | Private Reply | To 11 | View Replies]

To: beef
"Why does anyone stay in NJ, except that it might be cheaper than NYC? "

Yes, it's Hell, but Hell with nice beaches, great pizza and the best tomatoes. It's also close to New York, if you work there, or like to visit. Why does Donald Trump spend the summer at his New Jersey residence?

Pennsylvania is better but it's still high at #15 for taxes versus #3 New Jersey.

Florida (#34), or Texas (#46) seem better choices than either.

20 posted on 01/14/2018 8:55:56 AM PST by Sooth2222 (“Toute nation a le gouvernement qu’elle mérite.” ("Every nation has the government it deserves.)
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-24 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson