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Murphy and the Dems agree to millionaire's tax.

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And more than half the money collected with the tax increase will be paid back to a family making less than 150k as a rebate..

So whats the fucking point in a year when the state is in the biggest hole its ever experienced?

 

Moving forward we know that rebate will dissapear.  Hes just trying to pay off his voting base yet again.

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1 hour ago, Displaced Texan said:

 

The best solution is to leave this place far behind in the rear view mirror. 

I really wish I didn't have to wait but I think next year is it.   I like my house, I like where I live, I hate the political climate, the taxes and the non stop BS coming out of Trenton.

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1 hour ago, JackDaWack said:

Moving forward we know that rebate will dissapear.  Hes just trying to pay off his voting base yet again.

The article states that it isn't known when the middle-class rebates would be paid out.   So I think we can safely assume those checks will go out in October of 2021, right before the gubernatorial election.  The rebate program will be cancelled by December of that year.

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...."Murphy’s administration is estimating this will bring in $390 million from 16,491 New Jersey residents and 19,128 nonresidents.

Someone making $2 million would pay about $18,000 more in gross income taxes, while someone making $4 million would pay about $71,000 more."

Note to Phil, it costs a lot less than that to hire a mover and LEAVE the state.... Duh..

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From the article:

"Under the plan, the state’s gross income tax rate on income between $1 million and $5 million would increase from 8.97% to 10.75%. "

How come the only people that are outraged about it are not the people that will pay the tax?

On a good year I'm one of those people that will pay more, on a bad year I'm not. In both cases I don't care, but I much prefer the years I have to pay : )

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The tax increase raises $390mm, the payments are about $350mm.  When the tax increase fails to raise enough to balance the budget, and it won't for obvious reasons , Murphy will then demand the threshold be lowered and the rebates will disappear - just like the property tax rebates of years past.  Pretty soon anyone with a job will be paying that rate.

Anyone with that income level is looking for an exit strategy.  Anyone making that income has already crunched the numbers.  The biggest challenge is what to do with their real estate.  The dems already showed them how to work remote. 

I wasn't at that income level and I saved enough in income taxes the year I moved to pay for the entire relocation.  

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8 hours ago, Old Glock guy said:

So they want to take more money from millionaires, not to prop up the budget shortfall, but to give it away to other people? Isn't that scheme the very definition of income redistribution? 

The millionaires will just leave the state and get a house 4x as big and cheaper somewhere else. The middle class in NJ will hold the bag at the end.

Its not like the commute every day to work

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5 hours ago, Sniper said:

...."Murphy’s administration is estimating this will bring in $390 million from 16,491 New Jersey residents and 19,128 nonresidents.

Someone making $2 million would pay about $18,000 more in gross income taxes, while someone making $4 million would pay about $71,000 more."

Note to Phil, it costs a lot less than that to hire a mover and LEAVE the state.... Duh..

The state has paid more that 7 Billion in UI since mid March. 390Mill is peanuts.

 

https://www.google.com/amp/s/www.nj.com/coronavirus/2020/09/high-unemployment-could-force-big-tax-increase-for-nj-businesses.html%3foutputType=amp

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8 hours ago, 10X said:

The article states that it isn't known when the middle-class rebates would be paid out.   So I think we can safely assume those checks will go out in October of 2021, right before the gubernatorial election.  The rebate program will be cancelled by December of that year.

If they go out, at all... the state is broke... and, in true Socialist policies, the "makers", the ones actually paying the bulk of the taxes in the state, get screwed out of any rebate dollars, while the "takers" reap all the benefits:

...."To nail down the policy victory, Murphy agreed to have the state give rebate checks of up to $500 to married couples in the Garden State with income below $150,000 and at least one dependent child, as well as to single-parent households with income up to $75,000. That will benefit 800,000 families, the governor said.

 

4 minutes ago, antiriad said:

A billion here, a billion there, and before long, you're talking real dollars... They'll never pay off the deficit, so they'll just continue to spend like drunken sailors...

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3 hours ago, mustang69 said:

 When the tax increase fails to raise enough to balance the budget, and it won't for obvious reasons , Murphy will then demand the threshold be lowered and the rebates will disappear - just like the property tax rebates of years past.  Pretty soon anyone with a job will be paying that rate.

 

Right. These people are not stupid, they know those that can will leave and revenues will fall short of projections. The milllionaries tax is just for openers.

Increasing the sales tax is next on Murphy's wish list.

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10 hours ago, JackDaWack said:

And more than half the money collected with the tax increase will be paid back to a family making less than 150k as a rebate..

But only if you have a child. Apparently the childless can go fuck themselves

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Has anyone noticed any degradation in state services over the last few months? I had contacted various state divisions for various matters. First they were not picking up the phones, then a "clueless" person would pick up the phone and give the excuse that everybody was remote. Now they don't even pick up the phone and goes to voicemail. Of course nobody even calls you back.

I have emailed, cold called state employees, sent certified letters and....nothing. I even filed a request to the governor's office and no response. The school system and DMV are broken. 

It seems only the police and fire department do their jobs.

 

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7 hours ago, Sniper said:

 to married couples in the Garden State with income below $150,000 and at least one dependent child

You just need to re-frame this to cause him pain.

"Gays and Lesbians hardest hit by this policy" "This is devastating to the Trans community"

 

 

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7 hours ago, antiriad said:

Has anyone noticed any degradation in state services over the last few months? I had contacted various state divisions for various matters. First they were not picking up the phones, then a "clueless" person would pick up the phone and give the excuse that everybody was remote. Now they don't even pick up the phone and goes to voicemail. Of course nobody even calls you back.

I have emailed, cold called state employees, sent certified letters and....nothing. I even filed a request to the governor's office and no response. The school system and DMV are broken. 

It seems only the police and fire department do their jobs.

 

Who are you trying to contact within the school system? Our BOE meetings have been running consistently and taking public comment, and our superintendent is doing a good job at the very least answering our questions. 

 

We got permits for a house project, maybe a week longer than normal, but town hall has communicated the process for applying and dropping off forms down there. 

 

The "state" workers, I couldn't say, I havent had any need to contact them. But my wife was on family medical leave when this shit blew up, and their office took maybe 2 days to respond to emails. 

 

DMV has been broken my entire life, lol.

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1 hour ago, JackDaWack said:

Who are you trying to contact within the school system? Our BOE meetings have been running consistently and taking public comment, and our superintendent is doing a good job at the very least answering our questions. 

 

We got permits for a house project, maybe a week longer than normal, but town hall has communicated the process for applying and dropping off forms down there. 

 

The "state" workers, I couldn't say, I havent had any need to contact them. But my wife was on family medical leave when this shit blew up, and their office took maybe 2 days to respond to emails. 

 

DMV has been broken my entire life, lol.

It more has to do an issue I had with NJ DoL. They wanted me to pay some money back. I went thru a Review board tribunual. I won the tribunual and the decision was that I owe nothing howerver NJ DoL are STILL sending me bills to repay the money. I am just trying to tell them that no money is owned. 

With all the Sh!t going on with the Unemployment in the state they could be swamped but it bothers me I cannot even talk to a person. There are 20-30k new NJ unemployed every week.

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10 minutes ago, antiriad said:

It more has to do an issue I had with NJ DoL. They wanted me to pay some money back. I went thru a Review board tribunual. I won the tribunual and the decision was that I owe nothing howerver NJ DoL are STILL sending me bills to repay the money. I am just trying to tell them that no money is owned. 

With all the Sh!t going on with the Unemployment in the state they could be swamped but it bothers me I cannot even talk to a person. There are 20-30k new NJ unemployed every week.

Best advice is to just maintain the records, and certified letters sent with proof of receipt. 

The state level is a shit show with all of those services. I think we got lucky my wife was already In the system when this happened. I bet they are prioritizing unemployment issues. When we left voice messages they called back the next day, twice. They also answered emails in about 2 days, this way in april- May at the height of it all. 

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16 hours ago, mustang69 said:

The tax increase raises $390mm, the payments are about $350mm.  When the tax increase fails to raise enough to balance the budget, and it won't for obvious reasons , Murphy will then demand the threshold be lowered and the rebates will disappear - just like the property tax rebates of years past.  Pretty soon anyone with a job will be paying that rate.

Anyone with that income level is looking for an exit strategy.  Anyone making that income has already crunched the numbers.  The biggest challenge is what to do with their real estate.  The dems already showed them how to work remote. 

I wasn't at that income level and I saved enough in income taxes the year I moved to pay for the entire relocation.  

I just mentioned that to the wife last night....the threshold will quickly creep down to the point where a married couple working low wage retail jobs will soon qualify as "wealthy".

Not sure if it was mentioned in another thread, but reminds me of the hedge fund manager who told his town that he will relocate to Florida as his primary residence if they pass any tax increase.  They brushed him off, and so he loaded up the truck and moved to Boca or thereabouts.  The town (somewhere in north NJ) then realized that this one guy was paying the lions share of the entire municipal budget and now they had to scramble to replace most of their budget numbers.

Then we have the scandal on Nashville where the power mad mayor shut down the lifeblood of the city due to fake Covid stats, lost all that business revenue (naturally), and then he raises the tax on the remaining residents by 36% to make up the difference.

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15 minutes ago, AlDente67 said:

...Then we have the scandal on Nashville where the power mad mayor shut down the lifeblood of the city due to fake Covid stats, lost all that business revenue (naturally), and then he raises the tax on the remaining residents by 36% to make up the difference.

I saw that on last night's Tucker. I sure hope he has a security detail. I can see an attempted Arkancide in his future without it.

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