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Money

Gov. Christie: If You Want To Feel Like A Millionaire, Come To New Jersey

Gov. Christie: If You Want To Feel Like A Millionaire, Come To New Jersey
SPECIAL TO NEW JERSEYNEWSROOM.COM

(Highlighting a segment of Governor Christie's 129th Town Hall Meeting in Fair Lawn, N.J.)

GOVERNOR CHRISTIE: New Jersey has a 9 percent top income tax rate, the third highest one in America. Here’s what they’ll tell you, get ready for this, it’s coming, because it has come four times since I’ve been governor. They’re going to tell you, here’s how we solve all problems of New Jersey. We are going to raise taxes to ten and three quarter percent on millionaires. Now, we already have a millionaire’s tax in New Jersey. Now this would be a millionaire’s tax surcharge. Now the millionaire’s tax by the way, this is great New Jersey math. We have Governor McGreevey to thank for this. The millionaire’s tax starts on people who make $400,000 a year.

Take that in for a minute. Imagine if you’re the governor and you’re trying to market this state and get people to move here. Which I try to do all the time, the best I can do with that one is, if you’re not a millionaire but you want to feel like one, come to New Jersey. Even as you make $400,000 we’ll tax you like a millionaire. You can feel like one, you can tell your friends I’m a millionaire. You are? Well not really, I don’t have a million dollars and I don’t make a million dollars but I get taxed like I’m worth a million dollars. They want to add a surcharge on top of that and raise that tax rate up to ten and three quarter percent. What I’ll tell you is that will raise – on its best day –500 million dollars. On its very best day it will raise 500 million dollars. That won’t get use anywhere near the money we need to pay these bills. Nowhere near it.

 

The N.J Pension Sinkhole Gets Deeper

The N.J Pension Sinkhole Gets Deeper
BY JOE SINAGRA
NEWJERSEYNEWSROOM.COM
COMMENTARY

After Governor Christie’s dramatic, pension-centric budget speech, I thought it was time to take a step back and update my history of  “A Real New Jers...

N.J. Senate Will Act to Prevent Reduced Exxon Settlement

N.J. Senate Will Act to Prevent Reduced Exxon Settlement
BY RICHARD McGRATH
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – New Jersey Senate President Steve Sweeney and Senator Raymond Lesniak said on Tuesday that the Senate will go to court to stop the Christie ...

4 Reasons NJ Commuters Getting Tax Increase From Christie

4 Reasons NJ Commuters Getting Tax Increase From Christie
BY BOB HOLT
NEWJERSEYNEWSROOM.COM

What do you think of New Jersey traffic these days? Have you ever considered what it would be like driving your own vehicle in your daily commutes between New York and ...

Man Charged with Stealing his Father's Social Security Benefits for 29 Years after the Father Died

Man Charged with Stealing his Father's Social Security Benefits for 29 Years after the Father Died
BY PETER ASELTINE
SPECIAL TO NEWJERSEYNEWSROOM.COM

TRENTON – Acting Attorney General John J. Hoffman announced that a Gloucester County man was indicted for allegedly stealing more than $243,000 by frau...

Outlook for 2016 Budget Looks Bleak for New Jersey’s Working Families

Outlook for 2016 Budget Looks Bleak for New Jersey’s Working Families
BY JON WHITEN
SPECIAL TO NEWJERSEYNEWSROOM.COM
OPINION/COMMENTARY

As the governor prepares to deliver his 2016 budget address on Tuesday, the prospects for policies to help middle-class and low-income Ne...

Sharing Income Equality

Sharing Income Equality
BY JOE SINAGRA
NEWJERSEYNEWSROOM.COM
COMMENTARY/OPINION

A major cause of “income equality” to the extent it exists today . . . New jobs that were created during the recent recession are paying far less t...

Is the Risk Really Being Managed in your 529 College Savings Plan?

Is the Risk Really Being Managed in your 529 College Savings Plan?
BY DAVID J. SEIBEL
SPECIAL TO NEWJERSEYNEWSROOM.COM

As our kids get within a few years of going off to college the desire to make more money in their 529 college savings plan should be replaced by the n...

Sharing Income Equality

Sharing Income Equality
BY JOE SINAGRA
NEWJERSEYNEWSROOM.COM
COMMENTARY/OPINION

A major cause of “income equality” to the extent it exists today . . . New jobs that were created during the recent recession are paying far less t...

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