From the WSJ:
‘My Clients Are Fleeing NJ Like It’s on Fire’
That headline arrives via email from a money manager in northern New Jersey. The Garden State already has the third largest overall tax burden and the country’s highest property tax collections per capita. Now that federal reform has limited the deduction for state and local taxes, the price of government is surging again among high-income earners in New Jersey and other blue states. Taxpayers are searching for the exits.
In the financial industry of course it’s not just the clients who are looking for greener pastures. One hedge fund manager moving his office to a southern state reports that his new home on a golf course will be more than double the size of his house in Chatham, N.J. while generating just one third of the current property tax bill.
Others are staying out of necessity, but that doesn’t mean they want to bet on a Jersey comeback. “The apartment market in New Jersey is booming because nobody wants to own here. As soon as people are not tied to the area for business reasons, they leave,” says Jeffrey Sica, founder of Circle Squared, an alternative investments firm. “We structure real estate deals for family offices and high-net-worth individuals and at a record pace those family offices and individuals are leaving the TriState for lower-tax states. Probably a dozen this year at least,” he writes via email.
…
In the decade ending in 2016, real economic growth in New Jersey clocked in at a compound annual percentage rate of 0.1, just slightly higher than John Blutarsky’s GPA and less than a tenth of the national average for economic growth.The Tax Foundation ranks New Jersey dead last among the 50 states for its business tax climate. So naturally new Governor Phil Murphy is proposing an even larger tax burden. A little more than 100 days into his term, Mr. Murphy seems determined to make New Jersey residents miss Chris Christie.
Steven Malanga calls Mr. Murphy’s plan “the U-Haul Budget” for the new incentives it gives New Jersey residents to flee. Your humble correspondent participated in a panel discussion at an event hosted by the Garden State Initiative today and was pleased to discover that at least some residents of New Jersey are not yet ready to abandon hope. They’re urging Gov. Murphy to make the state’s tax burden competitive again. Following federal reform, the residents who remain in blue states have a whole new reason to demand that politicians put out the fire.
Thank goodness for fiscal responsibility…
http://www.nj.com/politics/index.ssf/2018/05/phil_murphy_i_dont_know_exactly_how_much_union_con.html
A day after hailing a new contract for 32,000 state workers, Gov. Phil Murphy said Wednesday he doesn’t know exactly how much the deal will cost New Jersey taxpayers.
“I don’t know the exact number,” Murphy told reporters after an unrelated public event in Trenton. “But our folks are working on the details.”
New Jersey is the next upstate New York. Economic failure, “economic development” plans (higher taxes), more failure, permanent inferiority.
The Newark HQ2 proposal was an embarrassment to the state, and the media made the decision to evade covering it.
Tax lottery tickets, scratch offs, any game of chance, sports betting and gambling. After being against it, I now endorse legalizing pot and would also recommend legalizing pr0stitution. I endorse and support anything that will redirect the tax burden from the production class to the common masses.
I endorse a rental fee as well. If you rent, a 10% monthly surcharge should be implemented to go to the state. In essence, let the lesser informed pay for the lesser informed. Businesses will be exempt.
We don’t control the lottery anymore, it was sacrificed to the pension to temporarily appease the beast. The pension fund owns it now.
In a year or two, we’re going to consider transferring ownership of the Parkway and Turnpike revenues to the pensions too.
After that, maybe they’ll accept the state parks.
I endorse and support anything that will redirect the tax burden from the production class to the common masses.
Murphy will just give it all away in his bid to become the most beloved governor of all time. Look out JFK.
Taxes = wealth
@paulkrugman
Why are people surprised that Mike Pence praised Sheriff Joe as a champion of the “rule of law”?
For a large segment of the population, “law and order” has always meant “keeping people of color down” — full stop
NJ is too freaking crowded. Can’t wait for y’all to GTFO
@Grey_Obelisk
Cohen: I paid Stormy Daniels $130,000. Trump didn’t reimburse me.
Trump: I don’t know anything about it. You have to ask Michael Cohen.
Rudy: Trump reimbursed Cohen for the payment to Stormy Daniels.
People outside of the progressive echo chamber have tuned out the identity politics narrative. Mexico is a pos country and it’s a result largely of the character of the people who live there.
Trump has an affair as a private citizen.
Clinton rapes an intern as the president.
Trump = Criminal
Clinton = Saint
Makes sense.
“The latest IRS data from 2016 showed a net outflow of $3.6 billion in income, equating to a loss of about $100 million in state tax revenues.” ….Those that can ,leave …those that can’t …pay up …
Great lead Grim and 1-punch KO of Very Stable at [8:08]
Can anyone tell me the percentage difference in total taxes paid in nj and a place like Nashville?
Fast don’t put the burden on the renters. Some of us were owners who did whatever they could do stress fiscal prudence and was against reckless out of control spending. I finally gave up and took the money and ran!! Let the homeowners now chained with their high property taxes figure it out. I love now how some friends of mine at peak earnings want out because of the taxes and other issues yet expect others to pay the high prices and ridiculous property taxes. My response to them I told you so.
I can tell you that northern liberal states subsidize the southern right winger states.
That’s a fact.
The Great Pumpkin says:
May 3, 2018 at 8:50 am
Can anyone tell me the percentage difference in total taxes paid in nj and a place like Nashville?
God bless
@GovMurphy
For the 1.2 million New Jerseyans who don’t have paid sick leave, today we say loud and clear: No one should sacrifice a day’s pay due to illness or because a loved one has fallen sick.
Today, New Jersey joins nine states in guaranteeing paid sick leave.
Genius,
That’s the big question. If people do flee blue states for low tax states, who will subsidize the red states? Who will cover all the costs associated with economic investment that the blue states currently take on? Just think if nj lowers its education investment, what kind of impact this will have on the rest of the country’s economy as highly educated students from nj stop going to out of state colleges and contributing to their local economy and the national economy.
We can all run from our tax bill, but understand there will be an impact on our national economy. There is no free lunch.
Yeah, the abbot districts where a bulk of the state money is going is really producing a lot of reknowned scholars. I’m sure the economy would crater.
Just think if nj lowers its education investment, what kind of impact this will have on the rest of the country’s economy
You are lost my friend. Educational investment is a waste of money….sure.
nwnj says:
May 3, 2018 at 9:24 am
Yeah, the abbot districts where a bulk of the state money is going is really producing a lot of reknowned scholars. I’m sure the economy would crater.
The Great Plumpkin and Moana are teaming up. It’s like Dumber and Dumber.
We are all still waiting on the wage growth and the impeachment.
The only prescient call that will turn out right is that NJ will be the first state to kneel at the Federal trough and ask for a bail-out. CC was the first governor to try to turn the ship around through austerity. Conversely, Murphy is trying to patch the hole in the Titanic with some expensive tin foil.
I’m still thinking of buying.. But the fact that 20K/year property taxes which equate to 400K mortgage payment is driving me nuts… Basically even if if someone gives that house for free, still I’m on the hook for fake 400K mortgage for life and it keeps increasing..
It used to make some sense until dec 2017 with tax rebates, now doesn’t look like it..
WTF…
I’m still waiting to hear the percentage difference that would cause someone to pick up and leave, because it’s just so unbearable. I doubt it that’s much, but prove me wrong.
Pump Kin, its not that everyone is leaving,, but looks like it has started to hurt… Anything can happen..
https://unitedincome.com/documents/papers/UnitedIncomeStateOfRetirees.pdf
Report: 1 in 6 retirees a millionaire. “Retirees are increasingly staying put and living in more expensive suburbs near urban areas.”
Helps explain why House inventory remains low. People want stay and can afford to stay.
Hey Fab…
This is not CC’s fault. Stake takes in less than 40 billion a year. Where are the cuts going to come from? Those early retirements were a fantastic tool to help in the long run. If you understood how the tiers in the pension worked, the more recent hires are getting a much worse (but way, way, way cheaper for the taxpayer) deal for themselves. Better to get the old guys out before their salaries get even higher and their benefits are then even more expensive to pay as they are a much higher percentage of final salary and can be started sooner.
Check out this chart for the truth. Interesting article too.
https://bit.ly/2I9JawU
BRT brings up the Abbotts. They are certainly not helping the situation and we’d all like to see this fixed as well. But they were not the cause, nor is there enough money wasted in those districts to make a dent in the unfunded liabilities.
The REAL truth is that promising utopia in exchange for the union vote and endorsement is the reason NJ is in the hole. You can do the math and easily see that way too much was promised and until recently, way too little was paid for by the employee. This is finally changing, and it absolutely has to. But it’s now too little, too late. People have been projecting the pensions and liabilities to go boom back in the Whitman regime. No one since then has done anything to fix it except for CC. And by fix it, I don’t mean shut down every state service to be able to pay for what was overpromised. Our bridges are collapsing, we have the worst traffic in the country, our courts are overloaded, our prisons are overflowing, our transit is the absolute worst, our taxes are the highest and our economic growth is at the bottom. Where is the money going to come from.
It’s very easy to say, “It was promised so it must be paid.” But tell that to every home buyer who fcked the banks between 2007 and 2011. The union knew the risks of asking for too much and just kept on taking and taking and taking. Well, it’s simply too late now to be fixed. The smart strategy will be to stop paying into the pension fund at all. Be the first to declare bankruptcy. Cause when Illinois and California come knockin’, they will have already changed the rules (like they did with college loan delinquencies).
I’ve been telling my teacher, cop and police friends, of which I have quite a few, that they better be saving outside of their pension. And most are. They are not happy with the situation, but they’ve done the math at my urging. 300 billion liability and 37 billion in TOTAL ANNUAL REVENUE can not be fixed. It’s too late.
And finally. Stop making everything partisan. This is one of those truly non-partisan issues. Both parties, including Murphy who has already changed actuary expectations to avoid making payment, are at equal fault. You can’t blame them though. The deals cut before them were IMPOSSIBLE to make happen.
Fab. Read this. He’s a little tougher on CC than I am, but that’s OK. I respect his opinion.
https://bit.ly/2HL6kKx
Murphy made 5 million last year and 7 million the year before without working a day. No wonder he bother to calculate the amount before increasing spending.
The title article is consistent with what my families tax adviser has been saying. We go t a call when Murphy started in the governors race and basically were advised that given the possibility of him being elected governor it would be a good time to change residency, that he was going to be a disaster for the wealthy and a millionaire tax would likely pass if he was elected.
NJ is too freaking crowded. Can’t wait for y’all to GTFO
Who uses the word “y’all” and lives in the north east? lol!
Yes, how much was their fee, huh? Sell that fear!
JCer says:
May 3, 2018 at 10:44 am
The title article is consistent with what my families tax adviser has been saying. We go t a call when Murphy started in the governors race and basically were advised that given the possibility of him being elected governor it would be a good time to change residency, that he was going to be a disaster for the wealthy and a millionaire tax would likely pass if he was elected.
Please explain how Ny’s pension system is fine and pays out more generous benefits than nj. Nj has one of the lowest compensated pensions out there.
“The REAL truth is that promising utopia in exchange for the union vote and endorsement is the reason NJ is in the hole. You can do the math and easily see that way too much was promised and until recently, way too little was paid for by the employee.”
Can’t even drop a duce these days without a camera recording you.
http://www.nj.com/monmouth/index.ssf/2018/05/superintendent_out_out_for_job_relieved_himself_un.html#incart_2box_nj-homepage-featured
Wow. Nj’s best.
Pumps,
Two reasons.
In 2012, public workers made HUGE concessions including increased contributions, later distribution age, etc.
New York is an economic machine that NJ isn’t. NY has recovered and then some. NJ wallows in it’s debt service and poor governance.
Who said this has to be paid in one year?
“They are not happy with the situation, but they’ve done the math at my urging. 300 billion liability and 37 billion in TOTAL ANNUAL REVENUE can not be fixed. It’s too late.”
You claimed it’s not sustainable from the start, so please explain how a more generous pension is doing fine, and nj’s is not. Maybe because jersey just stopped paying their pension for two decades. It’s amazing it’s still paying out after twenty years of non payments from the state of nj.
Not sustainable, but somehow has been paying out for over 20 years with no help from the state. All on the backs of current workers.
Libturd, AKA Dr. Howie Feltersnatch says:
May 3, 2018 at 11:42 am
Pumps,
Two reasons.
In 2012, public workers made HUGE concessions including increased contributions, later distribution age, etc.
New York is an economic machine that NJ isn’t. NY has recovered and then some. NJ wallows in it’s debt service and poor governance.
So keep coming at the pension with the bias of a conservative, claiming it’s not sustainable, simply too generous…bs! Right before your eyes, a pension you claim is too generous, has been paying out for over 20 years without help from the state of nj. These workers have a right to be pissed.
Who says NY’s pension is better? Tell me, how many pensioneers are there versus the population?
“Others are staying out of necessity….“The apartment market in New Jersey is booming because nobody wants to own here. As soon as people are not tied to the area for business reasons, they leave”….
Boom. You need NJ as the least bad of many alternatives. You don’t want it.
“We don’t control the lottery anymore, it was sacrificed to the pension to temporarily appease the beast. The pension fund owns it now. In a year or two, we’re going to consider transferring ownership of the Parkway and Turnpike revenues to the pensions too. After that, maybe they’ll accept the state parks.”
It’s been said the unions own the Statehouse. Soon they actually will lol.
The economy has not recovered, it is better for a business to operate outside the state due to high taxes and regulations causing the state economy to stay stagnant. This causes revenue issues for the state and The Great Pumkin thinks the solution is to make this state even more uncompetitive by raising taxes? Total insanity. The wealthy will get tapped out then the government will attack the higher end middle class with massive tax increases to make up the difference.
And finally, Cuomo played the same trick his buddy Murphy played. He raised the supposed return percentage on investment so contributions could be less. But fear not young imbecile. The can kicked down the road is about to reach a dead end for New York. Two years ago, they lowered the assumption to 7.5% and the money to make up the difference is coming out of state aid to schools. It goes down another .25% this year and already the schools are complaining about the aid cuts. The pension system wants to lower that number to 6.6%? Where is the money going to come from? It won’t. Some douche of a governor will just come in and raise the actuaries again. But keep on using NY as your shining example. NY has NYC. NJ does not dumbass.
Pumps, the fees are fixed. My family gets audited fairly frequently, we retain a team of accountants and tax attorneys, as part of this they advise us and handle any audit we have a fixed fee and an hourly arrangement in the event of audit. Our people are very good and they are interested in minimizing taxes not driving fee revenue, they know that’s what their practice thrives on and the more taxes they save the more business they will get. It is telling they are also incredibly busy, tax scheming is the only growing sector in nj.
And finally Pumps. NY’s pension is in significantly better shape because the government makes its contribution. In NJ, the contribution started being raided by Florio in 1992.
“In 1992, facing a budget shortfall, Florio pushed through the Pension Revaluation Act with unanimous support in the legislature, reducing taxpayer contributions to the public retirement plans by $1.5 billion.”
25 years of games got us to where we are. It’s too late dude.
BRT,
Is this true? I wasn’t aware the law expired.
http://www.nj.com/politics/index.ssf/2018/05/nj_state_workers_sign_off_on_new_contract_raises.html
A state law that established how much workers must pay toward their health care has expired, leaving premium contributions open to negotiations, so long as they exceed 1.5 percent of a worker’s salary.
Self defense.
http://www.nj.com/essex/index.ssf/2018/05/off-duty_officer_shoots_suspect_who_attempted_to_r.html#incart_2box_nj-homepage-featured
N.J.’s Murphy Now Knows Taxpayer Cost of Raises He Gave Workers
By Elise Young
(Bloomberg) — New Jersey taxpayers will foot a $149
million bill for a four-year contract negotiated with Governor
Phil Murphy’s administration that gives raises to 35,000 state
workers.
The information was released by Murphy’s office a day after
the governor, four months on the job, told reporters that he
didn’t know the total cost of the contract for the
Communications Workers of America, which endorsed the Democrat
and contributed to his 2016 campaign.
Murphy, 60, a former Goldman Sachs Group Inc. senior
director, supports the agreement, which gives workers 2 percent
raises for 2017 and 2018. Some will get onetime $650 payouts and
retroactive clothing allowances and eye-care reimbursement.
The agreement includes a $48.8 million payout in fiscal
2019, which starts July 1. Pay retroactive to 2016, though,
amounts to $100.1 million. The 2016 and 2017 payouts “are
assumed in the fiscal year 2018 adjusted appropriation,”
according to Murphy’s office.
The total cost is roughly equal to the amount Murphy left
out of the state’s Homestead property tax-credit program in his
proposed 2019 budget. The program provides relief for elderly
and disabled homeowners in the state with the highest property
taxes.
BRT,
Is this true? I wasn’t aware the law expired.
http://www.nj.com/politics/index.ssf/2018/05/nj_state_workers_sign_off_on_new_contract_raises.html
A state law that established how much workers must pay toward their health care has expired, leaving premium contributions open to negotiations, so long as they exceed 1.5 percent of a worker’s salary.
I don’t know, this is news to me to. I would think we would have all been talking about it if it was.
At the end of the day, the sun will rise again. I’m sick of the rich crying poor and lobbying the govt for help. It’s ridiculous! Enough is enough. Stop pushing the cost of society all on the lower classes, they have it tough enough living in constant debt.
If the rich want to leave, let them. It means everything becomes much cheaper in this state. Let them go to the low cost areas and drive up the costs in those locations.
That’s what no one on this board realizes in their defense of the rich. They are the ones responsible for the high costs, plAin and simple. So why keep defending them? Why allow them to continue to push the costs of society on the people living pay check to pay check. Screw them! They need us, not the other way around. Without the labor class, the rich are nothing. Tell them to go do it themselves.
Here is anecdotally what Murphy is doing to NJ. A crime is committed and he uses force to retrieve the stolen goods, but keeps it for himself….
https://youtu.be/BiO01_Fe6To?t=41s
As I have mentioned in the past – not that anyone should have noted as I am not nearly as active as I used to be back in the day – I am renting a 3BR/1.5BR split level unit with garage, laundry room, central AC, giant deck, multi tiered yard, moldings, opulence corner to corner, for a fifth over two thousand. Fort Lee rt5 area. I don’t even go out to do the trash, which allows me time to play with my daughter, tinker with an algo, not drive to HD, whatever. The commute is as good as it gets, and there’s no requisite ~$250 train pass. Taxes on the house are in excess of $17K
I look at what’s happened with tax law and I see what Murphy is promising and given demographics and macro economic forecasts, and I just don’t see how the future isn’t a grin and bear it scenario. The free house is an apt analogy.
I’m in Nashville often. Market’s been on fire there, as reported by just about everyone, but taxes are refreshingly low, if you’re into creationism and all that.
Who exactly is going to pay the bills if the wealthy leave? You do know that they already pay most of the taxes? If they leave the government will then attack you with higher taxes to make up the difference. It will be a nightmare.
Maybe this video will help.
https://youtu.be/BomQxCG5VG4
“Who exactly is going to pay the bills if the wealthy leave?”
The Feds. I’ll be in Costa Rica by then. And, you’ll probably be a Republican.
oh my, oh my….and where are the wealthy headed to?
Oklahoma? Somalia, perhaps?
The Great Pumpkin Hypocrite says:
May 3, 2018 at 1:18 pm
Who exactly is going to pay the bills if the wealthy leave?
Clinton has an affair as a private citizen.
Trump has an affair as a private citizen and pays hush money as an illegal campaign payment.
Clinton = Impeached
Trump = Looking to get a pass.
Makes sense.
Probably Florida far away from our stagnant uncompetive economy.
Florida is basically the same as south america, small groups of very rich in walled off compounds…everyone else is poor and the place is third worldish outside of rich coastal areas. The nice areas are very nice though.
Murphy’s raises to cost NJ $150 million more a year.
‘Clinton rapes an intern as the president.’
Wow, from you, Grim?
I thought you just tolerated the loonies for traffic. Now the echo chamber makes more sense.
There goes all the marijuana tax revenue. Spent before a penny was even collected.
Suspect he did not know he amount prior to signing.
dude doesn’t care, he need to replay the crooks(The Unions) who got him elected! Progressive politics are usually behind the collapse of great republics and democracies. Once people realize they can vote themselves better benefits it continues until the government goes bankrupt or the rich overthrow the government.
“Florida is basically the same as south america, small groups of very rich in walled off compounds…everyone else is poor and the place is third worldish outside of rich coastal areas. The nice areas are very nice though.”
Substitute home rule for walled compounds and aren’t we talking about NJ?
Or are 22/10/46/23/1/9 corridors considered the height of western civilization?
Wow, from you, Grim?
In the age of #metoo, we should call a spade a spade, and not play these nonsense games around the fact that there can never be a consensual relationship between a person who wields the power of the presidency and an intern. It can not exist, there can never be consent.
Let me know when Bill Clinton issues an apology. Louis CK finally got it.
But what I learned later in life, too late, is that when you have power over another person, asking them to look at your dick isn’t a question. It’s a predicament for them. The power I had over these women is that they admired me. And I wielded that power irresponsibly. I have been remorseful of my actions. And I’ve tried to learn from them. And run from them. Now I’m aware of the extent of the impact of my actions. I learned yesterday the extent to which I left these women who admired me feeling badly about themselves and cautious around other men who would never have put them in that position. I also took advantage of the fact that I was widely admired in my and their community, which disabled them from sharing their story and brought hardship to them when they tried because people who look up to me didn’t want to hear it. I didn’t think that I was doing any of that because my position allowed me not to think about it. There is nothing about this that I forgive myself for. And I have to reconcile it with who I am.
Spot on. I don’t think the people claiming that they want to move to Florida have been outside the wealthy tourist areas. They truly have no idea how poor Florida really is and the amount of deadbeats the state attracts.
JCer says:
May 3, 2018 at 2:12 pm
Florida is basically the same as south america, small groups of very rich in walled off compounds…everyone else is poor and the place is third worldish outside of rich coastal areas. The nice areas are very nice though.
Oh lord, this video is a joke. No wonder you are worried about the rich leaving.
First off, do you honestly think the bottom pays no taxes? You really believe that bs? Based on how much they earn, things like the gas tax actually hurt them in comparison to how much they make, but let’s claim the bottom 50% pay no taxes.
Second, do you really think if the rich leave, they won’t be replaced? Come on now, they are fortunate to be in their position. If they leave, they will be replaced by someone else in the economy. No one is special, anyone can be replaced. And don’t give me that “mobile” bs. If you are truly rich, you are tied to some local economy. Internet can’t replace that. I don’t care what the business is, it has ties to locations, and if the business was successful enough to make someone rich, it’s not easy to just pick up and leave, and make the same money. People that pick up and move their business to some other location end up failing most of the time, way too much risk.
So why are you so scared of rich people leaving? What’s so scary about it?
Omg! If the rich leave, what will we do? We are incapable of taking care of ourselves, we need that rich babysitter to survive, right? What a joke!
The Great Pumpkin Hypocrite says:
May 3, 2018 at 1:18 pm
Who exactly is going to pay the bills if the wealthy leave? You do know that they already pay most of the taxes? If they leave the government will then attack you with higher taxes to make up the difference. It will be a nightmare.
Maybe this video will help.
https://youtu.be/BomQxCG5VG4
Pumpkin, people know they simply don’t care. The economic segregation means the rich don’t see the poor(or even the middle class) except in the capacity of workers. The workers see the rich as their source of income, without the rich the situation would be dire in FL. large segments of their economy exists to service the rich and elderly. My sisters friend just moved from Bernardsville to south florida, they are independently wealthy and her husband owns some kind of internet based business. Seems to be settled just fine, private school for the kids…life is great for them, they come back up to NJ in the summer when the kids are off school for a few months to avoid the FL heat. When you have loads of wealth NJ state income tax is punitive.
Our economy blows theirs out the door. Let’s be real. It’s not all about growth.
The Great Pumpkin Hypocrite says:
May 3, 2018 at 2:00 pm
Probably Florida far away from our stagnant uncompetive economy.
https://bit.ly/2JMQiMJ?5126
Pumpkin the big problem NJ has is first a large number of it’s residents work out of state. Second a highly progressive tax structure(NYS income tax STARTS at 4%, NJ starts at 1.4%) and a large population of poor people. A married couple in NJ doesn’t begin to pay “their fair share” until they make ~75k household income, this means that approximately half the population of the state is a drain on it’s finances. In any fiscally sound state with income tax(NY, PA, MI, VT, etc), they would be forced to pay a significant tax burden. NJ politicians are dumb they have targeted the wrong tax payer all along, the rich are mobile…. consider it.
So why are you so scared of rich people leaving? What’s so scary about it?
I already said it will be you that has to make up the difference with a massive tax increase. The middle class will be attacked with higher taxes when tax revenues here fall short from the wealthy leaving. That video is not perfect but does a good job of explaining the problem.
Maybe you should watch the video again to see who gets stuck with the bill at the end?
Wannabe pumps,
The minute the rich leave a location, they can and will be replaced. Life adjusts, life goes on.
Jcer,
The rich are not as mobile as you think. There’s a reason they concentrate in high tax/cost states when they could go anywhere. Yes, there are a minority that obsess over their tax bill and move to some low cost location when they are filthy rich. Why you would want to live in some low cost location when you are filthy rich is beyond me, but it is what it is. Some people are idiots and don’t understand what they have, instead they worry about every penny. I’d enjoy life if I was filthy rich, no way I live in some low cost location. Defies logic.
In the end, if the rich want to leave, let them. Stop letting them blackmail our govts with threats of leaving.
They are not going to be replaced as easy as you think. The tax bill will then fall on you to make up the difference. Even top Democratic lawmakers in the statehouse have said recently they don’t want to bring back the millionaires tax.
Someone explain Tepper or the hedge guy from Chatham mentioned in the article Grim posted today. DT could buy his own G650 with cash in his wallet and fly it out of KMMU so why did he leave?
Lib, whats the best CC to avoid foreign transaction fees?
There are a bunch Nomad. But be careful as they keep changing. It really depends on how often you travel and whether or not airline lounge access is important to you. The British Airways card is doing it’s mega deal again, but unless you plan to spend 30K you are better off with one of the Chase Saphire cards. If it’s short term and not frequent, just do one of the cards that waives the annual fee. The truth is, you really have to do the math.
Check out the TPG – thepointsguy website. He’s the master of the craft.
Lincoln Chafee is thinking about running for senator from Rhode Island. Should be entertaining for all.
Wasn’t he the guy that authorized millions in loans for curt schilling’s video game company?
I just passed this in Montclair. The Artisan Vapor Company. Just, wow!
Same in Red Bank……
https://www.google.com/maps/place/Smoke+Theory/@40.3500405,-74.0650452,3a,75y,90t/data=!3m8!1e2!3m6!1sAF1QipNB1jQ1GSde_DYHNuYq1MvMKMt1ZWYd91AMS6yK!2e10!3e12!6shttps:%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipNB1jQ1GSde_DYHNuYq1MvMKMt1ZWYd91AMS6yK%3Dw156-h117-k-no!7i1632!8i1224!4m8!1m2!2m1!1svapor+red+bank+nj!3m4!1s0x89c23038010e842d:0x4bfed0fcd4dca8db!8m2!3d40.3500405!4d-74.0650452?hl=en
Evander Holyfield…….. MAGA
https://youtu.be/HKaPF5IJ_6A?t=4m31s
Artisan – a worker in a skilled trade, especially one that involves making things by hand.
Vape by hand? That stuff is all chemical. It would be like going to an Exxon Station named the Artisanal refuelery.
Suuuuuckers. Took the M3 on Mulholland today, Grip like a high school cheerleader it does……mama.
4:04 is that a one to one ratio, pumpers??
3:08….I got news got you – The Poor are EVERYWHERE.
A quiet afternoon with FlabMax:
https://youtu.be/2tkZ0u6Q-QM?t=1m23s
FlabMax on Election night 2016
https://www.youtube.com/watch?v=2YEhNHNydIs
Lib,
I was in PRC yesterday and saw it. Anything that allows the residents to display status is sought after but you, as a former resident already knew that. It’s a cool area but it has a b1tchy vibe to it. That new place by the guy that owns mish mish is good. Do the new moms still have their dairy co-op thing going.
Try HSBC Cash Rewards – it has 1.5% rewards and no annual fee or foreign transactions.
Bad side is HSBC, which is the VA or DMV of banks. They follow Hannah Arendts definition of evil – “Most evil is done by people that can’t make up their mind to do good or evil”
Unless you apply in a branch, it will be done by Apu in India and they’ll find 2 or 3 ways to screw it up.
What’s the best card(s) for airline lounge access? I don’t travel much but use credit cards for everything. Because EWR is mostly United, I can’t find a card to get in there except for those passes they give out which they stopped taking recently.
Libturd questioning the gender of Hillary’s Cankle fluid. says:
May 3, 2018 at 5:01 pm
There are a bunch Nomad. But be careful as they keep changing. It really depends on how often you travel and whether or not airline lounge access is important to you. The British Airways card is doing it’s mega deal again, but unless you plan to spend 30K you are better off with one of the Chase Saphire cards. If it’s short term and not frequent, just do one of the cards that waives the annual fee. The truth is, you really have to do the math.
Check out the TPG – thepointsguy website. He’s the master of the craft.
It amazes me how many people are upset with union workers getting a 2% raise after not getting raises under Christie for 3 years. Christie shares the blame for not even trying to compromise. If he had, the unions would have taken less. Does 2% even cover inflation?
I wouldn’t know. I’m falling behind AJ. Who is looking out for me?
AJ it’s not the raise per se, it’s not figuring out how to pay for it first. It’s not prioritizing the deteriorating finances before handing out a raise without even knowing the cost of the raise he gave.
Joyce. A lot of cheap cards have passport lounge access. These lounges are pretty no frills, but it does get you into a lounge at nearly any airport. I would just spring for the Platinum Amex. It’s $550, but I know when I did it, they covered my TSA PRE or Global pass, $200 in airline credits, free Boingo, and a whole bunch of other stuff. Plus some of the Centurion Lounges are the shiznit and you get Delta Sky Lounge access too, which is nice as they are usually empty.
It really comes down to what you are after. More access? Nicer lounges? Lower card fee? More value for your purchases?
So far, from what I’ve seen from Murphy, he’s a complete boob. I’m not even talking about his policy making.
He’s just another rich fool looking for a hobby now that he can buy whatever he wants. He’ll want to be president by 2020. And then it all collapses.
Thing is I miss Louis CK . Clinton? Not-so-much
1:44 Malibu.
Louis CK was brilliant. I bet he comes back.
Joyce. I didn’t read you clearly. Besides the fact that I think the United lounges kind of suck, even in Newark (too crowded and charge for drinks). If you want free access, there’s a high end Chase Card that United puts out that gets you in there. United Elite or something like that. Though after year one, it’s expensive.
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