NJ tax hike could cause wealth flight, senator warns

NJ tax hike could cause wealth flight, senator warns


COMMISSION. SHE IS AN ATTORNEY AND IMMIGRANTS RIGHT ACTIVIST AND SHE IS ILLEGAL. BACK TO MY EDITORIAL TOP OF THE HOUR. GOVERNOR OF NEW JERSEY WILL RAISE TAXES. WELCOME BACK. LET’S KEEP THE SMILES ON OUR FACES BECAUSE YOU KNOW THIS IS A MISTAKE THAT A MILLIONAIRE’S TAX WILL CAUSE PEOPLE TO FLEE THE STATE AND YOU SAID THE LAST TIME YOU ARE WITH US YOU SAID NO, WERE NOT, DO A MILLIONAIRE’S TAX. THE GOVERNMENT SAYS WE ARE.>>IS OUR OPPORTUNITY TO DO SOMETHING ABOUT IT. THERE’S SOMETHING MISSING AND THAT’S WHERE WERE MAKING CUTS AND REFORMING THE HEALTH CARE SYSTEM AND PENSION SYSTEM TO AFFORD THE GOVERNMENT WE HAVE RIGHT NOW. IT’S UP TO US TO DEAL WITH IT. IT WILL CAUSE PEOPLE TO LEAVE THE STATE. I WAS JUST WORKING WITH SOME EXPERTS IN THE ECONOMY AND THEY ARE TELLING US ABOUT CONNECTICUT ON THE WEALTH FLIGHT OUT OF CONNECTICUT. THEY ARE STRUGGLING MORE THAN US AND WE DON’T NEED TO HELP IT MOVE ALONG ANY QUICKER. STUART: YOU ARE IN A DIFFICULT POSITION. IF YOU DO THAT, YOU ARE CHARGING TEN-POINT SOMETHING% ON INCOMES OVER MILLION DOLLARS. I THINK IT’S RELATIVELY EASY TO WALK ACROSS STATE LINES. IS THAT WHAT THE EXPERTS ARE TELLING YOU.>>OF COURSE THEY ARE. THEY’RE TELLING US THAT THE TOP STATES FOR PEOPLE TO LEAVE NEW JERSEY OR NEW YORK SYLVANIA AND FLORIDA. THERE’S A REAL SENSITIVITY AND AFTER WHAT HAPPENED IN WASHINGTON, IT ACTUALLY PUT US IN A MORE PRECARIOUS POSITION. REFORMING GOVERNMENT AND FINDING A WAY TO MAKE THIS WORK BETTER, WE HAVE A LARGE PENSION OBLIGATION. THERE HAS TO BE A CONVERSATION EVENTUALLY ON A NEW SYSTEM FOR THE WORKERS. STUART: YOU SEE HOW PEOPLE FEEL. YOUR RAISING TAXES. WHETHER IT’S A MILLIONAIRE’S TAX OR AIRBNB OR MARIJUANA OR UBER OR WHATEVER, YOU ARE RAISING TAXES AND THE MONEY YOU RAISE IS GOING TO THE UNFUNDED PENSION LIABILITIES OF RETIRED GOVERNMENT WORKERS. HOW ARE PEOPLE SUPPOSED TO FEEL ABOUT THAT?>>LISTEN, I KNOW HOW THEY FEEL BECAUSE I HEAR FROM THEM. MY GREATEST CONCERN IS THIS IS STEP ONE OF A FOUR-YEAR PROCESS. WE TALKED ABOUT PHASING IN THESE PROGRAMS. IF YOU DID THE MILLIONAIRE’S TAX AND ALL THE OTHER TAXES THAT WERE OFFERED IN THE BUDGET ADDRESS, WHERE ARE YOU GOING NEXT YEAR TO RAISE A BILLION DOLLARS? IT’S NICE TO WANT TO EXPAND PROGRAMS BUT UNLESS YOU HAVE THE RESOURCES, WE HAVE FINANCIAL DIFFICULTIES IN NEW JERSEY AND WE REALLY NEED TO DEAL WITH THEM FIRST. BEFORE YOU GO OUT AND DO SOMETHING ELSE.>>RIGHT.>>I’M ALMOST AT A TIME BUT I’VE GOT THIS LAST ONE FOR YOU. I’M NEARLY 70 YEARS OLD. I DON’T EXPECT, IN MY LIFETIME, EVER TO SEE THE GOVERNMENT OF NEW JERSEY UNDERSTAND THE MESSAGE AND THE LESSON THAT YOU LOWER TAXES AND YOU INCREASE GROWTH. YOU WILL NEVER EVER LEARN THAT. YOU GET 30 SECONDS.>>I THINK WE’VE LEARNED THAT BUT I THINK WE UNDERSTAND IT. THE PROBLEM IS THERE’S DIFFERENCE OF OPINIONS. STUART, I DID THE REFORMS OF GOVERNMENT SPENDING YEARS AGO THAT SAVED BILLIONS OF DOLLARS BUT MORE NEEDS TO BE DONE. IT’S EASY TO CHECK AFTER MORE DOLLARS. THE HARD THING MAKING THE CHANGES. I GET IT. I MADE SOME MISTAKES ALONG THE LINE LIKE OTHERS HAVE TWO AND LESS TAXES, I BELIEVE WILL KEEP PEOPLE IN NEW JERSEY BEFORE THEN YOU BETTER HAVE A QUIET WORD WITH THE NEW

61 Comments

  1. Mario Cantani says:

    stop taking care of illegals and the tax payers won't get fleeced..

  2. Michael Gallmann says:

    Murphy will be the worst governor NJ has ever had. At least we'll all be high though.

  3. Larue77 says:

    Zuckerberg and all the other millionaires in Silicon Valley fled from California as did all the millionaires in Beverly Hills when CA raised top rate to 13%. The guys who founded Google now live in Kalispell Montana, Arnold Schwarzenegger now lives in Little Rock Arkansas, Elon Musk lives in Meridian Mississippi. Exactly the same thing will happen in New Jersey when this making millions on Wall Street see they can pay lower taxes managing a brothel in Parumph Nevada.

  4. MegaCoolguy52 says:

    Well tough shit NJ.

  5. Robert Mcgee says:

    Cut costs ass hat liberals!

  6. Scoundrel 91 says:

    Where are the going to move, Kansas? Tax cuts don't work it's been tried over and over.

  7. Bora Gamerz says:

    If every libtards and illegal immigrants are dependent on state tax without jobs they of course democraps would jack the tax on those hard working people.

    Teach these libtard how to work so that taxes can be cut.

    Oh wait… they gave those lazy jobless libtards financial support as a bribe for their election votes.

  8. Barb R says:

    Duh! Don't you think?

  9. Barb R says:

    First steal from pensions, next keep raising taxes while property values fall…. keep up those local taxes.
    Move out!

  10. Dutch says:

    New Jersey, a liberal paradise

  11. Edward Barros says:

    They should triple the tax rate. Then all the
    Liberal billionaires will move there. They love taxes.

  12. avader5 says:

    A Democrat raising taxes boy there's a shock!

  13. pault726 says:

    How refreshing to hear a dem politician talk about reining in government costs.

  14. Ron James says:

    Trump gave tax cuts to people, so NJ and CA take them away with higher state taxes. Thats typical dems.

  15. Dorian Shades of gray says:

    Just let the left destroy itself.

  16. Richard Schwartz says:

    Instead of more taxes why not clean up state government?

  17. J says:

    Phil Murphy will do to NJ what Jerry Moon Beam Brown has done to California. Time to leave.

  18. J says:

    Raising taxes is the only thing democrats know how to do.

  19. Ken Bugbee says:

    Democrats love to raise taxes !!!

  20. Gary Chandler says:

    When will the LIBERALS EVER LEARN ?

  21. MASTER BLASTER says:

    Top rate in Florida -0- zero bye bye

  22. Ducky MoMo says:

    The thing that pisses me off is all the liberals leave California and New York and move to red States but they still vote Democrat.

  23. Devora Howze says:

    No no no tax hike!

  24. Mutlap says:

    when will politicians learn or accept the reality of the consequences of excessive taxation. Cut spending !!!!!

  25. D'yer Maker says:

    Those dipshits would just vote for high taxes wherever they moved to.

  26. Poor Cart says:

    I hate that I live here. and im stuck here. fuck new jersey. p.o.s. politicians.

  27. Kami Slaran says:

    Government doesn’t know crap. You need to break the pension contract and lower tax to keep people in your state. Sweeney you have no clue how things work in real life. Keep screwing things up dude, that’s all you can do.

  28. John Strat says:

    All tax and spend problems are due to Democrats. No gun rights, again Democrats at fault. Now Democrats are making NJ a sanctuary state where illegals are getting welfare, section 8 checks, paid for by NJ taxpayers. Stop voting for Democrats if you want to fix NJ.

  29. John Strat says:

    I will be leaving for Florida, no state tax, don't tax pensions and don't tax social security. NJ taxes everything. This is how Democrats run government. All blue states are like this. Florida is a Republican state. I will take my money to Florida and then invite an illegal family which Phil Murphy loves and let them take my place so Murphy can pay their rent, food stamps, free fuel, free healthcare all paid by NJ tax payers, thanks to Democrats and Phil Murphy the Communist.

  30. Kevin Tate says:

    Dam this will never end. I left New Jersey for this reason. More people will move now. People have been going to Pennslyvania for awhile now. Also south jersey because of lower taxes. During rush hour the parkway from the south is packed and 78 from Pennsylvania is packed. They just don't get it. My home state has been destroyed by these people and I am sick and tired of seeing my family struggle the way they do. Unreal.

  31. Napoleon IV says:

    Back to the plantation. Soros is handing out seeds. (joke)
    Some women don’t like anal.

  32. Blud Clot says:

    Phil Moron

  33. VanGiai Do says:

    When Democrats took over New Jersey by stupid voters, then you deserve to get a fancy tax as rain tax, cow tax, air tax…Don't complain the your stupid votes for Democrats.

  34. Roberts TV says:

    Florida we benefits from millions of retirees spending NY, NJ and Illinois pension money while they do not send kids to schools.

  35. jwoolf55 says:

    Hey rich folk you better leave soon or else your screwed

  36. jwoolf55 says:

    Pensions are ponzi schemes

  37. mo mo says:

    Corzine junior in office
    Murphy's looking to get his share

  38. J Fish says:

    Why do people continue to vote democratic??? geeesh

  39. Alisa Klein says:

    I am ANTI GREED AND ANTI SELFISHNESS. We need a gigantic millionaire/billionaire wealth FEDERAL TAX. I disagree with both the commentator and the senator. What will happen to the rich is they will wind up becoming vagabonds moving state to state because when they bring their wealth to states and normal hard working middle class people see they aren't paying much and the wealthy cause state property taxes and other taxes to rise but the burden becomes placed more on the hard working middle class and the wealthy sit back paying minimal amounts people will protest and complain and force the new state the wealthy have moved into to create the same wealth tax as the state they just moved out of and so on and so forth. Put a FEDERAL WEALTH TAX in place and the wealthy will stay put because no matter what state they move to they will still have the same FEDERAL WEALTH TAX to pay. Problem solved. What you have here is the very same people that have to pass the WEALTH TAX bills into law are WEALTHY THEMSELVES. It is the same as a boss giving herself her own pay raise! DUH! DOH! I say remove/cancel all tax shelters and deductions from the wealthy because they don't need them. Give the middle class more that they can use as deductions. Let them write off all of their medical expenses, deduct contributions to retirement funds (so people DO NOT have to rely upon Social Security in old age (what a joke it is any way!) and can have money for their own decent care in old age without the gov't) and deduct contributions and all expenses to college funds for all of their children or continuing education for their own careers if they don't have children. Also give people with NO CHILDREN a bonus write off for not having children that the gov't might need to take care of at some point and would reduce any continued population increase or incentive for those that are poverty stricken and cannot take care of themselves to have an incentive to not continue the cycle of poverty and welfare addiction and subsequent expense to the gov't. Make it attractive to people to NOT have children that they cannot afford nor take proper care of nor be a good, proper parent to. Doing that will reduce the number of "thug/gang banging/gangsta wannabes running amok committing crimes and costing the gov't yet more money in crime prevention and punishment and additionally costing victims money and suffering.

  40. Tiffany York says:

    Won't hurt me n my friends n family. Huh….charge the rich a higher tax to balance things. Or better yet stop the medicaid n medicare n disability n welfare abuse! ! !

  41. mustLoveDogs says:

    So the dumbFucks leave a blue state bcs of high taxes, move to a red state and vote again for people who promote high tax and regulations and then red states turn blue and turn into CA – Their IQ is obviously lower than a blackAfrican (70).

  42. Bill Darnell says:

    If state leaders were smart enough to NOT SPEND MORE THAN THEY HAVE they would not be in trouble. But they are not smart . Oh yea, they are democrats.

  43. Leatherneck 72 says:

    Stupid democrats never learn after raising the Corporate tax rate that chased all the big companies out of nj, Connecticuts failed millionaire tax, California millionaires tax, Illinois, just chasing revenue right out of the state and leaving the state and it's people worse off. Great platform for the democrats to run on in 2020, just help Pres. Trump get re-elected of which I support fully.

  44. JPD says:

    Cool. Keep them coming to TX.

  45. david paglia says:

    Retired residents cant afford to live in the house they own! When they leave the state they pay an exit tax! a percentage of their sold property!

  46. Mark Myjak says:

    We have no choice but to raise taxes. Hedge fund billionaire Dave Tepper left NJ leaving a catastrophic hole in NJ's state budget.

  47. Edmond Casasa says:

    It's time for people to run from any Democratic Plantation run government.

  48. Gorilla MacGyver says:

    Laffer Curve ???????

  49. Manny Gonzalez says:

    Taxation is theft

  50. J. Damn says:

    I don't think any politician should have a pension

  51. Anetta Locke says:

    Get greedy government out of our lives, there abuse with other people’s money is treasonous 😡😡😡😡😡

  52. TR- Labs says:

    I was born in NJ 55 years ago, I don't visit that state anymore.

  53. TR- Labs says:

    Why do people put up with these criminals, what happen to the days when someone kicked their teeth in!

  54. Roger Brown says:

    The more Dems tax,the more they want,need to stop or their govt. will see something they will not like,the English found that out,take heed!!!!

  55. Roger Brown says:

    Also, I would like to have all of my SSI that I have paid over 58 years with interest from the u.s. govt. that it has stolen from us,all of Congress needs prosecution as well as the govt. of CA. for spending our money on ILLEGALS as well!!!

  56. Jane B says:

    Your greed! You deserve what you get. Ask the people .

  57. GretschDog says:

    I thought Christie was bad…..

  58. Joseph Borkowski says:

    N.J. is a day late and a dollar short ……Later been out since 2014

  59. Slim Morden says:

    As far back as the 1970's governments were warned tax increases worked to a certain point, beyond which there would bean unavoidable reduction in income.

  60. Slim Morden says:

    The Iron Curtain in Russia was built to keep productive people prisoner.

  61. Soothsayer 4417 says:

    I hate democrats !!!!!

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