Posted on 03/21/2006 5:13:45 AM PST by Calpernia
For the first time in history, New Jersey's State Budget will top $30 billion and is, in fact closer to $31 billion. Jon Corzine's budget address to a joint session of the legislature will be chock full of the Governor's tax increases and at least one broken promise.
State Treasurer Brad Abelow says the projected spending plan price tag is $30.875 billion. An increase in the state sales tax from 6-7% is expected to raise over $1 billion. Abelow claims the higher tax will not cost you much, "Our estimates are about $5 dollars a week." That would be $60 dollars annually but, economists say $400-$500 is a more realistic figure. Mississippi, Rhode Island and Tennessee also have a 7% state sales tax and they are tied for tops in the country. California's overall tax base is 7.5% but, 1.5% comes from a local levy.
Expanding the sales base to include new items is expected to bring the state almost $250 million. Abelow is reluctant to say what will be included but, says, "It's some of the same ideas you've heard before." In past years, Governor's have talked about expanding the sales tax to include landscaping services, tanning salons, massage parlors, tattoos, self-storage facilities and bail bonds.
There will be a 35-cent increase in the cigarette tax (already the highest in the nation) that will produce $80 million. The Corporation Business Tax will get an additional 2.5% surcharge netting New Jersey $60 million. A surcharge on luxury car registrations, vehicles costing more than $45,000 is expected to raise 17 million. Beer, wine and liquor will get a per-gallon tax of 5-10 cents producing 12 million for the state's coffers and a new water supply surcharge should bring in the same amount. Abelow says, "The average person will only pay $3-$4 a year," for the water surcharge.
While campaigning, Jon Corzine vowed to restore property tax rebates to their 1994 levels at a cost of $550 million. His budget includes about $130 million for the program which means homeowners can expect just a 10% increase in their checks. For many that translates to just $35 dollars a year and with state aid to towns and schools staying essentially the same as last year, your property tax bill is likely to increase by much more than $35.
The state will pay into its employee pension fund to the tune of $823 million dollars. Abelow says of the 15,000 state workers who are non-classified, 1,000 will be eliminated either through attrition or layoffs. Abbott school districts will see a slight increase in state aid and overall spending will be slashed by almost $2 billion dollars. Operating expenses in every executive branch department, except for four will go down. Environmental Protection, Health and Senior Services, Law and Public Safety and the new Office of the Public Advocate will see slight increases.
Public colleges and universities will see an almost 10% cut in state aid. Abelow says, "This is a budget that has very deep and painful spending reductions in it…….there is some revenue increase but, what I think it is characterized by is a very a deep and painful set of choices.
By: David Matthau
When Governor Corzine unveils his budget plan this afternoon, he's expected to propose a combination of spending cuts and tax hikes to close the State's 4 billion dollar budget.
Most Jersey residents like the idea of handling the budget mess by cutting spending, but they vehemently oppose increasing taxes in any way, shape or form.
"Taxes are already so high in this State" said one man, "we simply cannot raise them anymore. It's getting ridiculous."
But when pressed on exactly which programs should be cut -and by how much - no one was able to offer any suggestions.
"The bottom line", said another man, "is that we just have to stop wasting money", but he declined to elaborate on just exactly what that meant.
http://www.freerepublic.com/focus/f-news/1599832/posts
Corzine Ready To Lower Tax Boom On N.J. (Upset Residents, Many Hint At Leaving....)
$5 x 52 = $60, this kind of budgeting skill could be the root of the problem.
Who does he think he is? Mike Dukakis?
Regards, as you can see from the math error, we are screwed.
That comes to $260 per year.
Morris is right he is going to turn this into a red state. Just wish I didn't have to suffer with the fools that elected him.
Oh, boo hoo, New Jersey ... y'all voted for the guy. Enjoy!
Thirty years of Democratic (and pseudo-Republican) governance and the state is transformed from tax haven to tax hell.
Liberal politicans like Corzine evince an elitist, ummitigated contempt for the citizenry. They see the citizens as little more than useful idiots, to cough up the bucks to keep them and their cronies on the tax-paid gravy train.
Who's kidding who?
The billions Corzine will raise on the back of the working class will no way be used for the stated purposes----there are a million and one ruses to engage in government fraud.....bloated contracts, phantom employees on the payroll, relatives and cronies no-show jobs on the payroll kicking back salaries, taking equity positions in companies doing business with the state, and so on and so forth.
What the state needs is a law that compels travel agents to report when politicans, and their appointees on the government payroll, take trips to offshore banking havens, and gambling meccas.
They don't pay taxes though.
And sex tours.
Publik skool math - Your tax dollars at work.
LOL......and sex tours.
Come to think of it that may be another way they illegally convert, then launder, government money.
Probably book sex tours as "fact-finding" trips, with all manner of sex expenses billed to taxpayers including hotel rooms, viagra, massages, hookers, and chilled Cristal room service.
The politicians then get crooked sex tour operators to kickback some of the money.
Do you generalize about everything the way you did in this comment?
Must be a dim :^)
LOL......and sex tours.
Come to think of it that may be another way they illegally convert, then launder, government money.
Probably book sex tours as "fact-finding" trips, with all manner of sex expenses billed to taxpayers including hotel rooms, viagra, massages, hookers, and chilled Cristal room service.
The politicians then get crooked sex tour operators to kickback some of the money.
Generally
Heheh......McSeedy met his "Love Bug " on one of those obeisance tours where the politicans go on bended knee, and fellate potential donors.
The slimeball pols will do anything for a buck
Kushner had a hand in matchmaking Golan and Jimmy. If you're a bigtime developer, you might as well have "something" to blackmail the governor with while you're at it.
Betcha ol' Mr Bundle's got videos of the two lovers.
bump
bump
bump
Did I say bump?
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