Posted on 06/26/2019 2:07:45 PM PDT by GuavaCheesePuff
If Gov. Phil Murphy is ever angry, he usually buries it behind measured words and a smile while he’s out in public.
(Excerpt) Read more at nj.com ...
There are a lot of millionaires in NJ. Per capita, it is probably #1 or #2 income-wise in the US.
If they have any undeveloped property, they should take a cue from Bill Weld's Long Island grandmother (iirc), and donate to the Federal Gov't, thereby also depriving the local pols of property tax dollars. (Her land was coveted by the Dem pols for favored developers.)
Speaking as a Staten Islander, we are one of a few areas in NY and NJ that will vote R wherever we move.
The majority of rich libs will move after ruining here and go ruin somewhere else.
Should be some waiting period before being able to vote in a new state.
20 years would be good.
Democrats eating their own??? OMG.
Very, very true.
Gotta save those golden egg-laying geese, gov.
I live in NJ
People voted for Murphy because Christie was fat and rude
Christie wasn’t even on the ballot
Not for much longer.
And you can throw Connecticut in that pile, too. Home prices for all but the most high end properties have been stagnant in the Nutmeg State since the start of the Great Recession and property taxes have been a huge factor.
Agree!
They should hunt down those Evil Millionaires and Billionaires, confiscate all their Dirty Money and put them in Prison.
That will show them.
Between a millionaire tax at the top and $15 minimum wage at the bottom, plus sanctuary for millions of illegals - business will be destroyed in the state.
Btw, millionaire Murphy literally bought the governorship with huge donations to certain Democrats after they first told him to get lost.
People voted for Murphy because the state was only 54% white in 2015, and has been filled with millions of illegals. that’s why a successful marine hero lost big to creepy corrupt Bob Menendez. Democrat takeover.
:)
Hope all is well!
Not the best memory but I recall some goings on.
I hope things are good now.
:)
“Most wealthy people will flee the state.”
Actually, most probably won’t leave, but relatively few have to leave for the tax to have a net-negative effect on revenue. Take the follow example (using simple, round, numbers).
Today, the ‘wealthy’ in NJ pay a 9% state income tax. So, 500 people, averaging $2M per year income, will pay a total of $90M to the state. The proposed new tax rate is just under 11%, but only applies to any income over $1M. So his little mind figures he’ll be able to now soak another $10M out of these people (2% more, applied on 500 people, at $1M each). So revenue from this bunch increases to $100M, in his little mind.
But what happens if just 15% of them do leave? Now you have 425 people of this group left, and even though they’re paying an extra 2% on their second million in income, the total revenue to the state comes out $85M, a net loss of $5M.
Obviously if just a few big-time rich people leave (as Rush did when leaving NYC), then the effect is much more dramatic. The Democrats aren’t dumb, they know it, and I suspect the governor knows it, but his quest for ‘Social Justice’ is just so overwhelming that he can’t help himself, even if it means driving the state to the poor-house.
It wasn’t always like this either. In the 1950s, NJ was known for low taxes and all the New Yorkers had homes there.
“They have the money and I want it because I can spend it better than they can”! “sarc/off”
When MA was flirting with raising the state's income rate in the 1990s, the estranged Koch brother took up residence in FL, taking his well-paid staff with him, probably his company too.
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