Budget showdown begins

From the Star Ledger:

Christie’s new budget could have drastic effect on NJ residents

Once Gov. Chris Christie unveils his new budget plan for New Jersey in a Statehouse speech tomorrow, two big issues that have dominated Trenton will likely take center stage: taxes and retirement benefits for public workers.

The Republican governor and his allies have suggested cutting taxes and have hinted that public workers may be asked again to pay more toward their retirement benefits.

But Democrats who control the Legislature have balked at the talk of tax cuts and further pension changes, arguing that the state cannot afford to lose tax revenue because it is strapped for cash to pay its bills as it is. And public workers have given up too much already, they add.

Regardless of what happens, the new budget could have a drastic effect on New Jersey residents. The cost of education, health care and transportation programs is set to explode by billions of dollars over the next four years — and not enough money is coming in to keep them afloat.

The public employee retirement benefits issue has emerged again even though a series of changes in 2010 and 2011 raised the state retirement age to 65 and shifted more pension and health care costs to public workers. In return, the state agreed to pay larger sums into their retirement funds every year after many years of paying nothing at all.

Christie said recently that those state payments — rising to $2.4 billion this year just for the pension fund — severely limit his ability to accomplish other goals, such as longer school days in New Jersey.

“We need to have the conversation now about further changes to our pension system,” Christie said in his State of the State speech last month, sparking angry rebukes from unions and Democrats. “If we do not choose to reduce our soaring pension and debt service costs, we will miss the opportunity to improve the lives of every New Jersey citizen, not just a select few.”

This entry was posted in Economics, Politics, Property Taxes. Bookmark the permalink.

91 Responses to Budget showdown begins

  1. Phoenix says:

    First

  2. D says:

    Maybe CC will explain the legislation for raises & pension perks for his office today! Never mind the $400 million shortfall gorilla in the room!

    First!

  3. chicagofinance says:

    I’ve had conversations this past week with two different public administrators who are retiring…..I bring up the issue of healthcare and both unflinchingly say “I don’t worry about that…it’s paid for”……..one had the balls to complain that he has to pay for his own glasses……the attitude? No lost sleep……AT ALL…not even a second….and these are well over six figure guys…..

  4. anon (the good one) says:

    @jyarow: So, Netflix pays Comcast to carry Netflix smoothly. But Comcast has to pay ESPN to carry ESPN. How does this work in the long run?

  5. Street Justice says:

    http://www.recallsweeney.com/petition/

    We the people of the State of New Jersey there hereby sign this petition to “RECALL NJ SENATOR STEPHEN SWEENEY.” The people of New Jersey deserve better, under a decade of failed policies and leadership New Jersey is in a massive decline:

    – The highest property taxes in the USA.
    – The 2nd highest Income Taxes in the USA.
    – The most expensive roads per / mile.
    – Failed policies on crime.
    – The city of Newark NJ had the most murders in 2013 ever recorded.
    – Essex county had a record 475 Car Jackings in 2013 the most ever recorded.

    Instead of focusing on fixing the NJ economy which is currently a mess with unemployment in the upper 25th percentile in the USA – he instead has been focusing on prioritizing gun-control legislation in back room deals; in a state where the right to carry is already denied to average citizens.

    Source: http://www.bls.gov/web/laus/laumstrk.htm

    If Sweeny was truly interested in preventing crime and madmen from using GREATER THEN 10 bullets at one time, then he should add a mandatory 1 year sentence for each bullet used to commit a crime above 10 rounds – and exclude acts of self defense. Clearly, the purpose of his legislation was NOT TO PROTECT THE GENERAL PUBLIC, IT WAS TO DISARM THE GENERAL PUBLIC

    Recommended Formula:

    {+1 mandatory year added to a jail sentence:
    if > 10 bullets used to commit a criminal act}

    – Now that’s just common sense gun legislation which targets the right people i.e. THE CRIMINALS.

    Under Sweeney’s currently proposed legislation, a criminal who uses 2 separate 10 round magazine gets NO ADDITIONAL PUNISHMENT (he must think that’s okay) versus – a criminal act which uses 20 bullets will result in a criminal getting an additional 10 years of incarceration (+10 year mandatory sentence = 20 – 10 maximum new threshold). This solution targets the problem New Jersey is facing today; versus Sweeney’s fantasy legislation meant to solely appease his constituents and the left leaning media; based on an event which has never occurred in over 225 years in the State of NJ – which already has the strongest anti-gun laws in the USA.

    Lies, Lies & Exploitation:

    Nobody is buying your lies Sweeney, there hasn’t been a single mass shooting in the state of NJ since it was founded on December 18, 1787 – so stop exploiting the victims of the Newtown CT shootings by parading them throughout the State of NJ like hand puppets. Your behavior is disrespectful to those who lost lives, you have no honor for the victims of this heartless tragedy. Sweeney exploiting victims is despicable and reprehensible behavior.

    Let’s send a strong message to the New Jersey State Legislators by signing this petition and let them know you are feed up their failed policies on social, economic, and crime statistics.

    State Senator Stephen Sweeney has held office for over a decade and now resides as the NJ Senate President and has now taken to closed door non-public hearings on issues which seriously will affect all people in the state of NJ.

    We the people of NJ demand a voice in ALL NEW LEGISLATION WHICH IS PROPOSED; and therefore sign this petition to RECALL STATE SENATOR PRESIDENT STEPHEN SWEENEY OF NEW JERSEY.

    SIGN THE NEWEST PETITION:
    http://www.recallsweeney.com/petition/

  6. Street Justice says:

    We the people of the State of New Jersey there hereby sign this petition to “RECALL NJ SENATOR STEPHEN SWEENEY.” The people of New Jersey deserve better, under a decade of failed policies and leadership New Jersey is in a massive decline:

    – The highest property taxes in the USA.
    – The 2nd highest Income Taxes in the USA.
    – The most expensive roads per / mile.
    – Failed policies on crime.
    – The city of Newark NJ had the most murders in 2013 ever recorded.
    – Essex county had a record 475 Car Jackings in 2013 the most ever recorded.

    Instead of focusing on fixing the NJ economy which is currently a mess with unemployment in the upper 25th percentile in the USA – he instead has been focusing on prioritizing gun-control legislation in back room deals; in a state where the right to carry is already denied to average citizens.

    Source: http://www.bls.gov/web/laus/laumstrk.htm

    If Sweeny was truly interested in preventing crime and madmen from using GREATER THEN 10 bullets at one time, then he should add a mandatory 1 year sentence for each bullet used to commit a crime above 10 rounds – and exclude acts of self defense. Clearly, the purpose of his legislation was NOT TO PROTECT THE GENERAL PUBLIC, IT WAS TO DISARM THE GENERAL PUBLIC

    Recommended Formula:

    {+1 mandatory year added to a jail sentence:
    if > 10 bullets used to commit a criminal act}

    – Now that’s just common sense gun legislation which targets the right people i.e. THE CRIMINALS.

    Under Sweeney’s currently proposed legislation, a criminal who uses 2 separate 10 round magazine gets NO ADDITIONAL PUNISHMENT (he must think that’s okay) versus – a criminal act which uses 20 bullets will result in a criminal getting an additional 10 years of incarceration (+10 year mandatory sentence = 20 – 10 maximum new threshold). This solution targets the problem New Jersey is facing today; versus Sweeney’s fantasy legislation meant to solely appease his constituents and the left leaning media; based on an event which has never occurred in over 225 years in the State of NJ – which already has the strongest anti-gun laws in the USA.

    Lies, Lies & Exploitation:

    Nobody is buying your lies Sweeney, there hasn’t been a single mass shooting in the state of NJ since it was founded on December 18, 1787 – so stop exploiting the victims of the Newtown CT shootings by parading them throughout the State of NJ like hand puppets. Your behavior is disrespectful to those who lost lives, you have no honor for the victims of this heartless tragedy. Sweeney exploiting victims is despicable and reprehensible behavior.

    Let’s send a strong message to the New Jersey State Legislators by signing this petition and let them know you are feed up their failed policies on social, economic, and crime statistics.

    State Senator Stephen Sweeney has held office for over a decade and now resides as the NJ Senate President and has now taken to closed door non-public hearings on issues which seriously will affect all people in the state of NJ.

    We the people of NJ demand a voice in ALL NEW LEGISLATION WHICH IS PROPOSED; and therefore sign this petition to RECALL STATE SENATOR PRESIDENT STEPHEN SWEENEY OF NEW JERSEY.

    SIGN THE NEWEST PETITION:
    http://www.recallsweeney.com/petition/

  7. Street Justice says:

    At a certain point, when you raise tax rates, you actually decrease overall revenue due to decreased economic activity. I don’t know for sure if we’ve passed that point but I suspect we passed it a long time ago…

    “But Democrats who control the Legislature have balked at the talk of tax cuts and further pension changes, arguing that the state cannot afford to lose tax revenue because it is strapped for cash to pay its bills as it is. And public workers have given up too much already, they add.”

  8. Ben says:

    Christie’s looking to continue the ponzi by increasing the contributions. The real solution is to let people opt out of the pension system entirely. But then, the ponzi is over tomorrow.

  9. anon (the good one) says:

    I don’t really know Sweeney, but will mail a $500 for his reelection

  10. Fast Eddie says:

    Regardless of what happens, the new budget could have a drastic effect on New Jersey residents. The cost of education, health care and transportation programs is set to explode by billions of dollars over the next four years — and not enough money is coming in to keep them afloat.

    What’s the solution?

  11. Anon E. Moose says:

    Anon [8];

    I hope you send him $1,000. The more of your money down the sh!tter, the better. It’s a wonder how a fool and his money every got together in the first place.

  12. Funnelcloud says:

    NJ will never change, to much corruption, you can’t fight a system where the criminals make the rules and the police are hired protect the criminals from the public, so you have 2 choices, stay and deal with the thieves always picking your pockets, or go to look for greener pastures. The exodus will continue for the middle class

  13. anon (the good one) says:

    exodus, what exodus? everybody here is all talk and nobody is moving. even Eddy is most desperately trying to trade up and staying IN nj

    “The exodus will continue for the middle class”

  14. Painhrtz - Disobey! says:

    Anon my choices career wise are Mass and Cali. NJ is a tax haven in comparison to those choices.

  15. Fast Eddie says:

    even Eddy is most desperately trying to trade up and staying IN nj

    It’s more like paying an extra 250K to trade down. The houses that are sitting are absolute sh1t or in a sh1t location. When there’s an ocean of f.ucked bag holders and no inventory, that’s the deal. So, trading “up” will only happen when the market is allowed to clear out on it’s own. I’ll know it’s arrived when a house listed in the upper 5s, lower 6s actually has some “wow” factor.

  16. Street Justice says:

    Up until recently, he was one of Chris Christie’s greatest Allies in the State Senate…

    9.anon (the good one) says:
    February 24, 2014 at 9:43 am
    I don’t really know Sweeney, but will mail a $500 for his reelection

  17. Street Justice says:

    He is refering to the following post here which discussed the dissapearence of the middle class in NJ at length…

    The post includes statistical evidence…

    13.anon (the good one) says:
    February 24, 2014 at 10:14 am
    exodus, what exodus? everybody here is all talk and nobody is moving. even Eddy is most desperately trying to trade up and staying IN nj

    “The exodus will continue for the middle class”

    https://njrereport.com/index.php/2013/11/15/middle-class-in-nj-sorry-to-hear-it/

  18. Street Justice says:

    The Laffer curve…

    New Jerseyans who moved out of state took $15.7 billion in income from 2000 to 2010
    Monday, September 2, 2013 Last updated: Monday September 2, 2013, 4:37 PM
    BY KATHLEEN LYNN
    STAFF WRITER
    The Record
    Print | E-mail New Jerseyans who moved to other states took a net total of $15.7 billion in income with them from 2000 to 2010, according to a new tax map from the non-partisan Tax Foundation.

    That meant they weren’t spending that money, or paying taxes on it, in the Garden State.

    But the loss in population and income was more than offset by births and the influx of immigrants to New Jersey, which has historically been an immigration gateway. And its household incomes remain among the highest in the nation.

    For decades, more people have moved out of New Jersey to other states than the reverse. Starting in the 1970s, “the nation’s population and job growth increasingly shifted to the Sun Belt states of the South and West,” according to Rutgers economists James Hughes and Joseph Seneca, who have studied the issue. In a 2007 Rutgers report, the economists wrote that in 1970, the mid-Atlantic states of New Jersey, New York and Pennsylvania accounted for 18.3 percent of the nation’s population; by 2006, they accounted for 13.5 percent.

    One big reason has been retirement to Florida and other warm-weather states. Other factors are the state’s high cost of living, especially high housing costs and property taxes; and faster job growth in other states, which was “a magnet for young people,” Hughes said last week.

    http://www.northjersey.com/news/222031961_New_Jerseyans_who_moved_out_of_state_took__15_7_billion_in_income_from_2000_to_2010.html

  19. grim says:

    Inventory is still very high compared to 2000-2002 – the pre-bubble period.

    You think inventory is low? You ain’t seen nothin’ yet.

  20. Fast Eddie says:

    You think inventory is low? You ain’t seen nothin’ yet.

    Why would it go lower? What’s going to happen to decrease the numbers?

  21. Comrade Nom Deplume, Guardian of the Realm says:

    [13] pain

    Mass taxes worse than NJ? Not seeing that.

    Mass. caps property taxes and requires voter overrides to go over a certain threshold. On a valuation basis, NH is worse. Cannot speak to Cali but they had Prop. 13 decades ago and I don’t know that it ever got repealed. We all know about NJ’s worst-in-the-nation property taxes.

    On income taxes, Mass. has a flat 5.2% (it has been around 5% forever). NJ has progressive taxation with a top rate of nearly 9%. And they want to raise it further.

    For 2010 (last year avail), Tax Foundation ranked NJ 2nd worst and Mass 4th worst for state and local tax burdens per capita (DC should be 4th but it isn’t a state). Cali was sixth. NY was 3rd. For burdens on overall income, NJ was second worst, Mass was 8th worst. (I use Tax Foundation’s (TF) reports because they provide blended data that measures all state and local taxes).

    For business taxation rankings for 2013, TF shows Mass. came in at 22nd. NJ was 49th.

    So I’m not seeing how NJ is a tax haven when compared to Massachusetts.

  22. Comrade Nom Deplume, Guardian of the Realm says:

    [17] street,

    This quote from the article is going to make anon’s head explode:

    “[W]hile the Garden State has recovered only 60 out of every 100 jobs it lost during the recession, Texas, for example, has recovered two jobs for every one it lost.”

    Crank up that spin machine, anon!

  23. Comrade Nom Deplume, Guardian of the Realm says:

    I had a question raised about whether the anons and Fabians could be thwarted on Second Amendment grounds by the formation of local militi@s. The theory being that if the Progressives (f.k.a. soc1alists) finally got their SCOTUS judges and repealed Heller, towns and counties can fight back by simply creating militi@s and enrolling all of their gun carrying citizens. Thus, in order to dis-arm the populace, the entire Second Amendment would have to be repealed (or a federal judge would have to declare the militi@ to be a sh@m, which has important implications for federalism).

    Seems this isn’t a new idea: http://www.nytimes.com/1994/05/29/us/county-creates-militia-to-defend-gun-rights.html

  24. nwnj says:

    I follow the blog closely, and I’ve decided it’s time to stop responding to anon. After his showcase of stupidity last week, it’s become clear that rather than trying to inform him and initiate a constructive dialogue, he needs to be shunned and ignored. In fact, that’s the best our current society can do with his type.

    He doesn’t have the capacity or thought process to think assimilate facts and make coherent decisions. Instead he’s going to rely on instinctive decisions and seek reinforcement. I don’t know what tradition his learning process derived from, but there’s no hope for him.

  25. Comrade Nom Deplume, Guardian of the Realm says:

    [24] nwnj

    I agree but it will be hard. It’s too much fun poking fun at him. It’s almost as if he is here for the comic relief. Kind of like the anti-RE101.

  26. nwnj says:

    #25

    I hear you, it is one part entertainment after all. I’m just tired of seeing idiots like him given a platform for their drive to lower the bar for the rest of us. Whether it’s school, politics, or public discourse, we should all demand better.

  27. Comrade Nom Deplume, Guardian of the Realm says:

    This is from the you-cant-make-this-stuff-up department: NYS gun control advocate arrested for, well, read it for yourself:

    http://wivb.com/2014/02/07/reports-of-man-with-gun-near-elementary-school/

  28. Comrade Nom Deplume, Guardian of the Realm says:

    We get rid of Piers Morgan and Alec Baldwin in the same week? SWEET!

    http://www.usatoday.com/story/life/people/2014/02/23/alec-baldwin-goodbye-public-life/5767201/

  29. Comrade Nom Deplume, Guardian of the Realm says:

    [26] nwnj

    I’m a bit torn on that. I don’t want to drive discourse from the public square. Also, I personally like it when the left goes off on its extremes. As his ilk promotes unpopular opinions and positions there’s the “let him rave so that we may know him mad” consideration.

    Personally, I’d like to get the progressives and reactionaries in a field together to fight it out for good and all. Would be a bit one-sided though since the right would have nearly all the guns.

  30. anon (the good one) says:

    @njdotcom: Daily reminder: 23 days until spring.

  31. Bystander says:

    anon,

    There are many on this board that left NJ already. I know many people who want to get out but can’t. Here in CT, I see foreclosures going bonkers yet new listing wants 525k for 1200 sf ranch. This sh*t will continue to sit for months like the rest. Combined with awful job market, this double whammy will force many from NYC area. All I see are 750/day 6 mo. contracts. Tell me how that supports family of 4? I guess wife makes 100k as well? Yeah right. That is the norm.

  32. Juice Box says:

    Happy B-Day Abe Vigoda!

  33. anon (the good one) says:

    @tim_cook: Remembering my friend Steve on his birthday. “Stay hungry, Stay foolish”. We honor him by continuing the work he loved so much.

  34. JJ says:

    Half of our country are just like Daisy the kitchen maid or Thomas the scheming footman a hundred years ago. They basically have nothing.

  35. Comrade Nom Deplume, back as Captain Justice says:

    [35] moose

    Wow. That’s a shame.

  36. Bystander says:

    I’m surprised this link did not get commentary. It was all over FB. I don’t know the org who put it out, but on its own- pretty shocking visual of income inequality in America.

    http://www.youtube.com/watch?v=QPKKQnijnsM&feature=youtube_gdata_player

  37. joyce says:

    33
    The guy who ran that company that exploited loopholes and paid no taxes?

    34
    I thought everybody had a piece of the stock market, that’s why it’s a matter of national security that it only goes up up up up up

  38. Comrade Nom Deplume, back as Captain Justice says:

    [31] bystander,

    At the gym watching AJAM Stream. This very comprehensive segment is on law schools and the job market. It is a virtual depression in law and almost no one thinking about law school should actually consider it. I was so lucky to have gone through when I did.

  39. anon (the good one) says:

    and the first thing you did with your degree was to dodge taxes

    Comrade Nom Deplume, back as Captain Justice says:
    February 24, 2014 at 12:53 pm
    [31] bystander,

    At the gym watching AJAM Stream. This very comprehensive segment is on law schools and the job market. It is a virtual depression in law and almost no one thinking about law school should actually consider it. I was so lucky to have gone through when I did.

  40. Comrade Nom Deplume, back as Captain Justice says:

    As if on cue, SecDef about to announce big drawdown for standing military. Can you say private militias?

  41. Comrade Nom Deplume, back as Captain Justice says:

    [40] anon

    Prove it arsewipe.

  42. Bystander says:

    Nom,

    I wonder what will happen when thousands of trained killers suddenly get thrown back into civilian life with sh*tty job market. The hero applause at NFL games and SOTU addresses don’t pay the bills. Govt. tried to avoid this through endless engagements for a decade. Should be interesting.

  43. Comrade Nom Deplume, back as Captain Justice says:

    [41] redux

    If anyone was wondering how the administration could screw red states, just watch where the cuts fall. Mostly on the Army and their southern bases and suppliers, I’ll wager. But Ft. Drum is safe. After all, we need a defense against Canada.

  44. Painhrtz - Disobey! says:
  45. Comrade Nom Deplume, back as Captain Justice says:

    [44] redux

    Ft. Dix is safe too, provided NJ doesn’t go red. But look for lots of “consolidation” in TX, OK, FL. Esp. TX.

  46. Comrade Nom Deplume, back as Captain Justice says:

    [45] pain,

    Don’t let the tail wag the dog.

  47. Painhrtz - Disobey! says:

    more like the wife wag the dog

    she isn’t leaving no matter how much I beg

  48. Ragnar says:

    Between federal income tax, medicare tax (2.9% forever), and NJ state tax (adjusted for federal deduction), my marginal tax rate is 48%. On top of that, I’m paying about $10,000 a year in sales taxes and $20,000/yr in property taxes.
    Can one of you lefties explain to me again how I’m not paying my “fair share.”? There must be an explanation on Twitter, right?

  49. anon (the good one) says:

    Warren Buffett says that his tax rate is lower than his secretary’s

  50. anon (the good one) says:

    don’t want to pay taxes? easy. become a billionaire. become GE or the NFL, they are people too after all

  51. Street Justice says:

    How much do you think she makes? My guess is she’s a 1%er too…

    51.anon (the good one) says:
    February 24, 2014 at 1:45 pm
    Warren Buffett says that his tax rate is lower than his secretary’s

  52. Comrade Nom Deplume, back as Captain Justice says:

    [50] anon,

    Well duh. She has a higher salary from B-H.

  53. joyce says:

    or Apple

    anon (the good one) says:
    February 24, 2014 at 1:50 pm
    don’t want to pay taxes? easy. become a billionaire. become GE or the NFL, they are people too after all

  54. joyce says:

    Ragnar,
    That seems like an awful lot of sales tax, really?

  55. Ragnar says:

    Ok, so the leftist answer to why 48% marginal are fair is that I should become a billionaire earning most income from capital gains to lower my marginal tax rate, or incorporate myself as a multibillion dollar corporation. That’s a non-sequitur. That answer seems rather like “let them eat cake” or “buy a Tesla”. The only answer is a diversionary tactic?

  56. anon (the good one) says:

    touché

    joyce says:
    February 24, 2014 at 2:20 pm
    or Apple

    anon (the good one) says:
    February 24, 2014 at 1:50 pm
    don’t want to pay taxes? easy. become a billionaire. become GE or the NFL, they are people too after all

  57. Comrade Nom Deplume, back as Captain Justice says:

    [26] nwnj

    I changed my mind. We are all stupider for having listened to that little tool. I swear that he’s the most idiotic person ever to posted on this board in my memory and that is saying a lot. My four-year-old makes more sense. To say that he should be beaten, and beaten often, would still devote way too much attention to him. You’re right; he should be ignored.

  58. yome says:

    Went to fill a Nasonex prescription at Costco. $130 co pay. This prescription cost is getting so rudiculous. I can buy Nasonex in Asia for less than $50 with no insurance. Giving drug companies copyrights for 10 years and be able to charge what the market can take is killing ordinary people. $130 co pay for a Nasonex!

  59. The Original NJ ExPat says:

    via one of my FB friends: Watching the closing ceremony of the winter Olympics last night, and they get to the part where they pass the flag from the mayor of Sochi to the mayor of PyeongChang, South Korea and I think “I bet they won’t have a stray dog problem there. “

  60. Comrade Nom Deplume, back as Captain Justice says:

    I find it ironic that this administration has castigated employers for doing precisely what it is about to do to the armed forces.

    http://www.npr.org/blogs/thetwo-way/2014/02/24/281955972/pentagon-budget-cutting-plans-sure-to-draw-flak/#0001

  61. chicagofinance says:

    Harold Ramis < Vigoda

  62. chicagofinance says:

    anon (the good one) says:
    February 24, 2014 at 1:50 pm
    don’t want to pay taxes? easy. become a billionaire. become GE or the NFL, they are people too after all

    You.. can be a millionaire.. and never pay taxes! You can be a millionaire.. and never pay taxes! You say.. “Steve.. how can I be a millionaire.. and never pay taxes?” First.. get a million dollars. Now.. you say, “Steve.. what do I say to the tax man when he comes to my door and says, ‘You.. have never paid taxes’?” Two simple words. Two simple words in the English language: “I forgot!” How many times do we let ourselves get into terrible situations because we don’t say “I forgot”? Let’s say you’re on trial for armed robbery. You say to the judge, “I forgot armed robbery was illegal.” Let’s suppose he says back to you, “You have committed a foul crime. you have stolen hundreds and thousands of dollars from people at random, and you say, ‘I forgot’?” Two simple words: Excuuuuuse me!!”

  63. grim says:

    Headline in Forbes last year:

    Warren Buffett’s Secretary Likely Makes Between $200,000 And $500,000/Year

  64. yome says:

    Went to fill a Nasonex prescription at Costco. $130 co pay. I can buy Nasonex in Asia for less than $50 with no insurance. Giving drug companies copyrights for 10 years and be able to charge what the market can take is killing ordinary people. $130 co pay for a Nasonex!

  65. chicagofinance says:

    He should be known more for his scripts…..the quality and quantity of his work is stunning…..

    Anon E. Moose says:

    February 24, 2014 at 12:46 pm

    Juice [32];

    Harold Ramis < Abe Vigoda

    Farewell, Dr. Egon Spengler.

  66. Comrade Nom Deplume, Guardian of the Realm says:

    [64] grim

    That was based on an analysis of the effective tax rate figures. We don’t know what the actual number is.

    But we do know what Warren is paid: $100,000. Oh sure, he makes a lot more, but that is his earned income, taxed at marginal rates.

    http://www.huffingtonpost.com/2012/03/15/warren-buffetts-pay-berks_n_1346956.html

  67. Comrade Nom Deplume, Guardian of the Realm says:

    [66] redux

    And there are a boatload of reasons why Warren’s effective tax rate is 17%. First, nearly all his income is unearned and taxed anywhere from top marginal rates to zero. Second, he gives a boatload of it away and gets massive tax deductions. Third, many rich people in his position don’t actually get paid–they borrow against their wealth to maintain their lifestyle and when he dies, the BH stock securing the loans pays it off.

    I could go on but to close this gap and make Warren pay his “fair share”, you have to elminate charitable tax deductions, raise rates on muni bond interest, long term cap gains and qualified dividends, and tax “imputed” income on money borrowed. And that is just for starters.

  68. Comrade Nom Deplume, Guardian of the Realm says:

    My judge posted this (Milgram and I both worked for the same judge), and I couldn’t help but think that if the Texas A.G. had tried using statistical analysis for enforcement, prosecution and sentencing, the ACLU and DoJ would have them in federal court so fast, the ink wouldn’t be dry on the regulations.

    http://www.ted.com/talks/anne_milgram_why_smart_statistics_are_the_key_to_fighting_crime.html

  69. Comrade Nom Deplume, Guardian of the Realm says:

    [65] chifi

    Scripts and acting equally. He was easily one of the most unheralded comedic actors of that time. In some of those movies, I thought he was better and funnier than Murray, who came across as a buffoon. I suppose it helped that he was delivering his own lines, but if Murray was so accomplished, why was he consistently out of sync with his co-actors and the script? Ramis rarely was.

  70. Comrade Nom Deplume, Guardian of the Realm says:

    [60] expat,

    Yeah. I learned never to ask a Korean kid to walk the dog. They don’t see it as exercise.

    Ba dum bum. I’ll be here all week. But not anymore today. Peace out y’all.

  71. yome says:

    Went to fill a Nasonx prescription at Costco. $130 co pay. I can buy Nasonx in Asia for less than $50 with no insurance. Giving drug companies copyrights for 10 years and be able to charge what the market can take is killing ordinary people.$130 co pay for a Nasonx!

  72. Anon E. Moose says:

    Chifi [65];

    the quality and quantity of his work is stunning…..

    Agreed.

  73. Ragnar says:

    Re Harold Ramis
    SCTV was good stuff. I wonder if he’d want this played at his funeral:
    “So you’re dead, now what?”
    https://www.youtube.com/watch?v=NYCbF0Fat-c

  74. chi (3)-

    Got Friskies, mf’er?

    Spent some time in your old town (Peoples Republic of Ithaka) last weekend. God, what a collection of zombies.

    “I’ve had conversations this past week with two different public administrators who are retiring…..I bring up the issue of healthcare and both unflinchingly say “I don’t worry about that…it’s paid for”……..one had the balls to complain that he has to pay for his own glasses……the attitude? No lost sleep……AT ALL…not even a second….and these are well over six figure guys…..”

  75. gary (14)-

    Only way you will ever be able to add “wow” factor to a 500K Bergen POS is to set it on fire.

    “I’ll know it’s arrived when a house listed in the upper 5s, lower 6s actually has some “wow” factor.”

  76. plume (28)-

    Piers Morgan, gone; Alec Baldwin, gone.

    Gooners, dropping like a rock. Nice choke by Ozil last week.

  77. chi (65)-

    Groundhog Day is in my personal top 10 movies ever. Way underrated.

  78. chicagofinance says:

    NICE!

    “I have a 41-year track record of investing excellence,” Mr. Gross told Mr. El-Erian, according to the two witnesses. “What do you have?”

    “I’m tired of cleaning up your s—,” Mr. El-Erian responded, referring to conduct by Mr. Gross that he felt was hurting Pimco, these two people recall.

  79. Comrade Nom Deplume, back as Captain Justice says:

    [75] clot

    Gooners haven’t dropped enough for me. So my three favorite teams are Toon and the two teams playing the gooners and mackems.

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  81. JJ says:

    Home prices rise more than forecast in December
    REUTERS — 2 MINUTES AGO
    (Reuters) – U.S. single-family home prices in December rose slightly more than expected from the previous month, a closely watched survey showed on Tuesday.

    The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.8 percent on a seasonally adjusted basis. A Reuters poll of economists forecast a rise of 0.6 percent.

    The 20-city composite index rose 13.4 percent year-on-year.

    “The S&P/Case-Shiller Home Price Index ended its best year since 2005,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.

    “However, gains are slowing from month-to-month and the strongest part of the recovery in home values may be over.”

    The 10-city composite index also rose 0.8 percent in December on a seasonally adjusted basis.

    On a non-seasonally adjusted basis, the monthly 10-city gauge was unchanged while the 20-city measure dipped 0.1 percent.

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