Another hit to the shore

From Shorebeat:

Legislators: N.J. Minimum Wage Hike A ‘Death Sentence’ for Jersey Shore Economy

Shore area businesses will be forced to either raise prices, cut workers or close down entirely in the wake of the state’s proposed law that gradually increases the minimum wage to $15 per hour, the state lawmakers who represent the boardwalk towns of Seaside Heights and Point Pleasant Beach said Friday.

The Shore will take a decidedly hard hit from the law because many young workers are likely to spurn the traditional summer job – where wages will increase at a slower pace – in favor of what is expected to be higher-paying jobs at non-tourism-based businesses. As a consequence, tourism-based businesses that often operate on low margins and must generated revenue in a short amount of time could find themselves overwhelmed by labor costs.

If the legislation is signed into law next week as expected, beginning Jan. 1, 2020, seasonal businesses need to pay their employees at least $10.30 an hour, and then increase that wage each year until it reaches $15 an hour in 2026.

“Restaurants, bars, boardwalks and amusement parks on the Jersey Shore will be the hardest hit,” added Assemblyman Dave Wolfe. “Even with the delayed increase, the mom and pop shops on the boardwalk will have to pay a competitive wage to attract young workers, who will undoubtedly choose to find higher-paying jobs at a supermarket or coffee shop chain instead. This is devastating to the Jersey Shore economy no matter how you slice it.”

Wolfe, along with his 10th district GOP colleagues state Sen. James Holzapfel and Assemblyman Gregory P. McGuckin, blasted the proposal, saying it would hurt the Shore area the most – doubling down on a separate tax on rental properties that is expected to increase the cost of a Jersey Shore vacation.

“This bill is yet another attempt by Governor Murphy to force residents and business owners out of the state,” said Holzapfel. “Small businesses are the backbone of the Jersey Shore and this wage increase will send ripple effects throughout our Shore economy.”


This entry was posted in Economics, Employment, Shore Real Estate. Bookmark the permalink.

79 Responses to Another hit to the shore

  1. Mike says:

    Good Morning New Jersey

  2. GdBlsU45 says:

    Welcome to Murphy’s vision for nj. Try to start a business and find out you’ll have to pay someone fifteen dollars an hour to flip burgers. Meanwhile he’s providing legal assistance and drivers licenses to illegals making it EASIER to work. LGBT Ed is now the law and MIDDLE SCHOOLERS will be taught it’s cool to be mixed up. S3xual orientation lessons for 11 year olds.

    Meanwhile not one single progressive law he passed applies to him or his kin. And we all know he was the one who hired Alvarez knowing about the rape accusations yet he has the b@lls to demand the va gov resign.

  3. 30 year realtor says:

    Despite what GdBlsU45 may say the law says; New Jersey boards of education must adopt instruction that accurately portrays “the political, economic, and social contributions of persons with disabilities and lesb*an, g*y, bis*xual, and transg*nder people, where appropriate,” according to the text of the law.

  4. 30 year realtor says:

    The new curriculum will be taught in social studies classes in NJ high schools starting next year.

    GdBlsU45 is clearly a fear monger and hater.

  5. ExEssex says:

    Anyone still stupid enough to believe in Trump and his ‘vision’ has more issues than i’d Care to mention.

  6. ExEssex says:

    10:01 – ask a corporate recruiter if a NJ is a place they can convince people to relocate to and you’ll get your answer …

  7. 1987 Condo says:

    So the point of the article is that the shore businesses will suffer a lack of workers, because those workers will now choose coffee house jobs and supermarket jobs rather than shore jobs? Is there a shortage already of supermarket and coffee house jobs that these workers will fill?

    Any attraction to working at shore during summer for a few $$ less than working at Shoprite?

    I guess we shall see.

  8. Bystander says:

    “Try to start a business and find out you’ll have to pay someone fifteen dollars an hour to flip burgers”

    ..or maybe they will evaluate starting the business first, knowing that minimum wage is $15. Also, they could start by flipping the burger themselves and then grow from there if it makes sense..oh the horror.

  9. Blue Ribbon Teacher says:

    ..or maybe they will evaluate starting the business first, knowing that minimum wage is $15. Also, they could start by flipping the burger themselves and then grow from there if it makes sense..oh the horror.

    Did you just admit that a $15 wage right now would put the lowest level employee out of a job?

  10. Bystander says:

    No BRT, I am saying that if you are starting a business and it is flipping burgers then perhaps the business model should not be predicated on paying someone $8 hr. so you can avoid the hard work. Here’s a great example of that “poor” small business owner in my area. They closed and good riddance.

    Vinny’s Ale House has been ordered by the U.S. District Court for Connecticut to pay $244,930 in back wages and liquidated damages to eight employees as part of a settlement with the U.S. Department of Labor’s Wage and Hour Division. An investigation by the Labor Department division found the business, owned by Ernst H. Buggisch and officially known as Vinny’s, failed to pay required overtime to its back-of-the-house employees when they worked more than 40 hours a week.

  11. GdBlsU45 says:

    lol, I don’t want anyone who isn’t sure which bathroom to use to “instruct” children on any lifestyle matters. It doesn’t belong in the classroom period unless you are trying to advance an agenda. If that makes me a hater then I’ll gladly where the label, in the same breath that if not wanting so see the country become a dumpster for the third world makes me a racist.

    But where facts are concerned, you are also wrong about those, it does include middle schools, which start at around age 10. Every good propagandist knows that you have to reach children before high school if you want to corrupt their minds effectively, their beliefs are too well formed by the time they become teenagers. I’ve seen “pride month” commercials run on nick junior in the early morning. Nick JR is intended for pre school kids, progressives know to target them early.

    “A board of education shall include instruction on the political, economic, and social contributions of persons with disabilities and l3sbian, g@y, bis3xual, and transg3nder people, in an appropriate place in the curriculum of middle school and high school students as part of the district’s implementation of the 1[Core Curriculum Content Standards] New Jersey Student Learning Standards”
    https://www.njleg.state.nj.us/bills/BillView.asp?BillNumber=S1569

  12. Blue Ribbon Teacher says:

    My family has run a few restaurants. In fact, they owned the first Chinese Restaurants in Teaneck and Ft. Lee. The owner has a lot of other things to deal with making sure everyone is on point. If the owner is flipping burgers, other parts of the operation may be compromised during night. Of course, if you can help speed things along, you do. But if anything goes wrong during crunch time, the whole service can quickly fall apart. Aside from that, you continually have to watch your other employees because if left unmanned, they will try to steal from you. Point is, you can’t be the cook and manager at the same time.

    $15 an hour is not viable for businesses right now. $10? Sure. $12… maybe.

    I think there is a clear difference between the concept of where minimum wage should be and a guy cheating his employees out of overtime. These are separate arguments.

  13. Bystander says:

    Understood BRT. No doubt there would be a hit to existing businesses. I was referring to those starting a new business and the viability of their business should be based on $15. Flipping burgers is prime example though- how many Smash Bros, Wahl burgers, 5 Guys, Shake Shack etc can open? These are venture capitalists not family restaurants. Their business has been predicated on economy that supports $15 burger and fries. Being able to pay current minimum wage creates quite a margin. I guess they will find out if people will pay $20 for same meal. My guess is that they will close en masse because choice will be stay in business and pay workers more while paying themselves less. Won’t happen.

  14. The Original NJ ExPat says:

    Northam – finally we have the proof.

    Anyone who votes for a Democrat is now shown to be a deplorable racist.

  15. The Original NJ ExPat says:

    BTW, all of Hollywood was racist at least 7 years before Northam:

    https://www.youtube.com/watch?v=JgAxvukW9dA

  16. 3b says:

    I understand gays and lesbians have been discriminated against and it’s wrong. But I just never understood the bi sexual thing. Who is discriminating against them? Why and how would anyone know someone is bisexual? What would be the point of even disclosing it? And who really cares one way or the other!

  17. 30 year realtor says:

    GdBlsU45, people like you are funny. They live in denial. This is purely a numbers game. A certain percentage of the world identifies under the flag of LGBTQ…and one of them is a member of your family. Always laugh when the idiot hater finds out about their LGBTQ child and has a sudden awakening. Tick, tick, tick…Be accepting. No one is trying to f*ck you.

  18. chicagofinance says:

    30: I really value virtually everything you bring to this board because of the unique and sophisticated empirical work you do. Beyond all the blathering here, you place your coin into the teeth of RE monster.

    That said, I am particularly sensitive to this subject with a 12 & 9 year old bopping around my house. My wife works in the school district too. My brother-in-law is married to a man, and my step-sister and brother are both married in same sex marriages.

    One of my best friends has a 15 year old daughter. She goes to school in Weston MA, and is caught in the firestorm of MSNBC politically correct nonsense. She is an interesting soul with a tocuh of ADHD and is a little bit of a social misfit. She is granddaughter of a prominent reformed Rabbi. That said, she has adopted some of this well meaning, but ultimately destructive nonsense. If she has persistent questions about such issues, those answers are best left to her future in her 20’s & 30’s. Right now, she presents as an average female (although I think she is cool). However, as a pseudo-bi-pseudo- lez, she instanteously become max-cool. How fuct is that?

    I think these types of intiatives are no different than a cigarette company hawking tobacco to 14 year olds….. sorry if that makes me a conservative a$$hole…. I really think that I am fair minded.

    Go Rams! (along with the rest of the USA)

    30 year realtor says:
    February 3, 2019 at 2:19 pm
    GdBlsU45, people like you are funny. They live in denial. This is purely a numbers game. A certain percentage of the world identifies under the flag of LGBTQ…and one of them is a member of your family. Always laugh when the idiot hater finds out about their LGBTQ child and has a sudden awakening. Tick, tick, tick…Be accepting. No one is trying to f*ck you.

  19. chicagofinance says:

    BTW – I have more issues with gays and lesbians who are smug with me either through condescention or else being inappropriate with PDA…… the PDA really pisses me off, because I’ve never pawed girlfriends/wife as a matter of respect to those around me.

  20. Blue Ribbon Teacher says:

    As a teacher, my opinion of the state is that they need to stay out of teaching and the curriculum game. For my subject area, they send me “standards” to uphold and in those standards are content errors. The people that write these things are never qualified to do so and they screw everything up. Teachers are smart enough to design their own curriculum and hold themselves to their own standard. The state consistently lowers the bar.

    With respect to this type of stuff, it’s borderline bringing politics into the classroom, which IMO is mortal sin. You are putting your kid’s teachers in uncomfortable positions that they didn’t sign up for.

  21. joyce says:

    There are a lot more inputs than just wages in the COGS and then G&A.

    But aside from that, I wanted to say that you have it backwards in that large companies can more easily absord additional direct costs and indirect ones (regulatory).

    Bystander says:
    February 3, 2019 at 1:32 pm
    Understood BRT. No doubt there would be a hit to existing businesses. I was referring to those starting a new business and the viability of their business should be based on $15. Flipping burgers is prime example though- how many Smash Bros, Wahl burgers, 5 Guys, Shake Shack etc can open? These are venture capitalists not family restaurants. Their business has been predicated on economy that supports $15 burger and fries. Being able to pay current minimum wage creates quite a margin. I guess they will find out if people will pay $20 for same meal. My guess is that they will close en masse because choice will be stay in business and pay workers more while paying themselves less. Won’t happen.

  22. Tom Brady says:

    On behalf of all the Jets fans I would to thank Joe N for bringing the Lombardi trophy to me tonight.

  23. There’s certainly a lot to learn about this issue.
    I love all of the points you have made.

  24. The Original NJ Expat says:

    I’m quite glad I fell asleep during the first quarter of the Super Bowl.

  25. The Original NJ ExPat says:

    BTW, Northam will resign on Wednesday. Mueller might come out with something on the same day. The State of the Union Address needs to be nullified.

  26. Ottoman says:

    Right wing “intellect” on full display:

    “MIDDLE SCHOOLERS will be taught it’s cool to be mixed up”

  27. Fast Eddie says:

    GdBlsU45, I agree with you.

  28. Ottoman says:

    Feeble minds think alike.

    Fast Eddie says:
    February 4, 2019 at 9:19 am
    GdBlsU45, I agree with you.

  29. Fast Eddie says:

    Feeble minds think alike.

    You sound like a six year old girl.

  30. Ottoman says:

    Show us on the doll where any republican called out someone from their own party to step down because of racism, sexism, homophobia, etc. They were running a kiddie diddler in Alabama. Then again, women are just spe3rm receptacles per the right wing.

    The Original NJ ExPat says:
    February 3, 2019 at 1:33 pm
    Northam – finally we have the proof.

    Anyone who votes for a Democrat is now shown to be a deplorable racist.

  31. Ottoman says:

    Isn’t that the age of consent for a republican Senate candidate?

    Fast Eddie says:
    February 4, 2019 at 9:23 am
    Feeble minds think alike.

    You sound like a six year old girl.

  32. Fast Eddie says:

    Isn’t that the age of consent for a republican Senate candidate?

    Go ask John Podesta and Hillary Clinton, they’re the experts in pedoph1lia and human trafficking.

  33. GdBlsU45 says:

    30 years what the progressives are seeking is equivalence with a productive relationship. As long as biology stands in their way it will never happen. Which happens to be one of the reason the left is at war with science.

  34. Fast Eddie says:

    Ottoman is upset because Hyundai shamed vegans in one of their Super Bowl ads. Ottoman, did you have Beetloaf for dinner last night?

  35. GdBlsU45 says:

    As long as the democrat party is built on identity politics it will continue to turn on and cannibalizes itself. Sit back and enjoy the show. Better than a mediocre football game.

  36. leftwing says:

    It’s an embarrassment to humanity that these two ass clowns are among a ruling body elite of the most powerful and prosperous nation on earth.

    It’s a hard choice between the two for the most feeble minded.

  37. GdBlsU45 says:

    Lol. Fake news cnn misrepresented the va gov as a republican. Never a day off for fake news generators.

  38. Libturd...look me up in Costa Rica says:

    Left. Not sure I support such legislation. The article also reeks of how out of touch these two lifetime politicians are. No one has a pension anymore. I think a lot more good would come from ending lobbying which has made the tax laws so egregious. Raise the tax on dividends and stock gains before you tell companies what they can and can’t do with their revenues.

  39. ExEssex says:

    9:31 holy cow…. that’s enough of the stupid for today… I lose IQ points just reading your drivel Eddie.

  40. Libturd...look me up in Costa Rica says:

    As someone who dressed up as Farakhan for a costume party in the 90s. I see little wrong with what the governor did. Everyone needs to lighten up a bit.

  41. 1987 Condo says:

    Stock but backs were illegal until 1982.

    I think they should be regulated or eliminated as they allow the CEO and management team to manipulate the stock price by reducing supply.

    This allows management to essentially hit any price target that is put in their contract and results in their bonus payments.

    In my opinion, this ability to manipulate stock price lines up pretty much to when CEO pay ratios starting to become un hinged from the base worker pay,

  42. JCer says:

    Lib, it’s offensive but I agree the reaction is an overreaction. This is something from 1984 when the guy was young. It’s a youthful indiscretion, but I guess since democrats have set the PC standard they’ll need to live with it when it’s one of their own.

  43. D-FENS says:

    These are the new rules. Smiling the wrong way, 10 year old tweets, parties decades ago, pictures in a yearbook decades old…all are now disqualifying.

    Libturd…look me up in Costa Rica says:
    February 4, 2019 at 10:39 am
    As someone who dressed up as Farakhan for a costume party in the 90s. I see little wrong with what the governor did. Everyone needs to lighten up a bit.

  44. JCer says:

    Listen, it was insensitive…..but, who really knows what actual views the Governor has. It could have just been a young person ignorantly wearing a costume or he might hold racist views….no one knows except the governor.

    This day in age with how everything is indexed and photographed, it will only get worse, anything stupid someone does can be retrieved at anytime. The Dems asked for it and now get to eat their own…..

    This was also something I was thinking about a few months ago with the whole Kavanaugh confirmation. Let just face it even the most righteous among us has done things that they are not proud of. In order to get into politics you have to be willing to do, I’m going to say , bad things to keep it quiet. Even if you didn’t do anything they will fabricate things. So in essence the only people in politics are those willing to deal in blackmail, intimidation, bribery, etc… A scary thought indeed.

  45. leftwing says:

    87condo

    I don’t care one way or another on buybacks. I’m just amazed that these two jackasses are arrogant enough to believe they are the best allocators of corporate capital. Why? Based on their deep direct, personal, and successful experience in this area? Or because having the government control corporate capital decisions was so successful in other economies? Lol.

    Otherwise, some factual corrections to your comment…buybacks were never ‘illegal’. There were simply never any rules that dealt with them so they were seldom used because of fear of regulatory action or lawsuits over perceived market manipulation. In 1982 the SEC issued rules (10b-18) that clarified this issue, providing a ‘safe harbor’, ie follow these rules and it won’t be deemed manipulation. That opened the door. Quite different from saying they were ‘illegal’.

    Also, no study shows (or will) that share prices are materially manipulated by buybacks. Can’t be, the trading volumes of these stocks dwarf the ability of the buyback to move the share price needle. Look at some of the larger examples, GE comes to mind, who blew wild amounts on share repurchases and their share price plummeted….

    Factually, many share buyback programs mostly offset rapidly expanding option issuances, ie, there is very little net reduction in share count due to buybacks. Option issuance has popped mostly due to a wider distribution of stock options to the employee base…take away companies’ ability to offset option issuances by buying in shares and you will have..drumroll..less options issued to employees which certainly is not in the interest of workers.

    In this light, the current setup – issue options to workers and offset them by using the corporate coffers to buy in shares – is effectively a transfer of wealth from the corporation/shareholder TO the workers. Unwinding this is not in this interest of workers but when has that ever stopped Schumer when there is a microphone nearby….

    Bottom line, again, is that other than to manage share count buybacks are an admission by a corporation that it has no productive use for cash that will generate an adequate return on capital. Corporations do these buybacks when they are out of ideas, and not at the expense of these ideas.

  46. D-FENS says:

    @KamalaHarris
    Follow Follow @KamalaHarris
    More Kamala Harris Retweeted The Associated Press
    Congratulations to @RalphNortham and his team for showing that Virginia won’t stand for hatred and bigotry.Kamala Harris added,
    The Associated Press
    Verified account

    @AP
    BREAKING: Democrat Ralph Northam wins Virginia’s hard-fought race for governor.
    @AP race call at 8:12 p.m. EST. #Election2017 #APracecall
    5:17 PM – 7 Nov 2017

  47. No One says:

    Buybacks became popular due to capital gains being taxed at a lower rate than dividends, which are taxed at the standard marginal tax rate.
    Someone with a high tax rate and a taxable account would thus generally prefer to see a company spend its cash reducing its shares outstanding by 2% than to receive a 2% cash dividend payout which they would have to pay taxes on immediately.
    When management gets paid in stock options, they also then favor actions that increase the share price to get above their strike price, rather than paying out cash which does little to help get their options into the money.

    A number of companies do a bit of both dividends and buybacks, as there are shareholder constituencies that favor each.

    Some dumb managements overemphasize buybacks at the expense of more important longer term investments. Or waste money buying back stock when their shares are already clearly overvalued. Which is why shareholders need to avoid companies with bad management.

  48. D-FENS says:

    Northam is a 2020 problem. Democrats can’t falsely accuse ever Republican of racism if there’s photo evidence a Democrat is an actual racist.

  49. leftwing says:

    No One, agree on shareholders avoiding poorly managed companies and the regular v. cap gains tax effect.

    I would also throw in the discussion that buybacks can be preferred by companies over dividends since they are flexible. Once approved they never need to be used, and the market doesn’t really care if they are renewed if used. Dividends on the other hand lock the company into those payments, no corporation voluntarily cuts its dividend once raised.

    Lastly, buybacks became popular by (incompetent) companies to wriggle out of the LBO boom. Recall, the easiest target for the ‘corporate raiders’ of the 80s were companies with under performing operations and massive cash balances. The ‘raiders’ used the balance sheet cash to fund a hostile purchase then slash and burn the operations. Companies, by spending the cash on shares with a potential knock on effect of raising the share price, insulated themselves from buyouts and badly needed restructuring.

    Take away buybacks you may very well see some bloated, cash heavy companies become leveraged buyout targets again. Once more, an unintended consequence for sure by Schumer but right down his power alley of King of the Unintended Consequence.

  50. Libturd...look me up in Costa Rica says:

    Think this one would get me in trouble?

    https://archive.org/details/lacampana1994mont/page/176

    CARIBSO – Caribbean Student Organization

  51. 1987 Condo says:

    Regardless, the resultant codified manipulations are certainly worthy of further discussion and review. I doubt anyone dislikes Schumer more than I.

    “Buybacks were essentially illegal”…Mike Santoli, CNBC Contributor, former Barrons Senior editor.

  52. D-FENS says:

    Only if someone photoshops a red maga hat on your head.

    Libturd…look me up in Costa Rica says:
    February 4, 2019 at 1:36 pm
    Think this one would get me in trouble?

    https://archive.org/details/lacampana1994mont/page/176

    CARIBSO – Caribbean Student Organization

  53. leftwing says:

    87C, think we’re mostly in agreement on buybacks and politics, lol.

    I just dislike oversimplification especially when used to shade an argument one way or the other….funny I just saw that Santoli segment on CNBC as well….it’s just not an accurate portrayal…a little disappointed CNBC editors are letting that slide through.

    I do submit, however, that take away corporate buybacks and you will see a decrease in the occurrence and amount of options issued to mid-level employees….if anyone is not (or has a friend who is not) senior management and they are banking some options annually as part of a comp plan kiss that plan goodbye.

    No way corporate EPS can support options plans distributed deeply without buybacks.

    I’d rather see incisive reporting on potential consequences than oversimplification of history.

  54. The Original NJ ExPat says:

    Class, eyes up here. Today we are going to learn about two g*y journalists named Anderson Cooper and Shepard Smith. One of them works for a very good news station, one of them works for a very bad news station.

    Despite what GdBlsU45 may say the law says; New Jersey boards of education must adopt instruction that accurately portrays “the political, economic, and social contributions of persons with disabilities and lesb*an, g*y, bis*xual, and transg*nder people, where appropriate,” according to the text of the law.

  55. The Original NJ ExPat says:

    I’ve seen people visit other states for the first time and pick up and move immediately to the state they just visited because they liked it so much. Nobody I know ever did that after visiting New Jersey.

  56. The Original NJ ExPat says:

    I think minimum wage should be about 3-4 gallons of gas per hour.

  57. ExEssex says:

    I moved to NJ sight unseen. Which is really the best way…

  58. ExEssex says:

    From my understanding it’s damn near impossible to convince people to relocate to the Garden State.

  59. The Original NJ ExPat says:

    Is this LGBTQ talk? ;-)

    There are a lot more inputs than just wages in the COGS and then G&A.

  60. The Original NJ ExPat says:

    The great thing about NJ is it’s not too far from the states where you’d rather live.

  61. The Original NJ ExPat says:

    The left wing believes that everybody is a spe3rm receptacle.

    Then again, women are just spe3rm receptacles per the right wing.

  62. The Original NJ ExPat says:

    I feel the same way, but the Dems got themselves all twisted around the axle by playing the yearbook card(s), so now they can’t un-ring that bell.

    There’s a Rutgers yearbook somewhere that shows a friend of mine dressed in a Halloween costume that I helped design. He was a flasher in a trench coat, wearing Caucasian flesh colored underwear, over another pair of underwear. I helped design what has come to be known as the dreaded “hairy scary” out of a golf ball and an athletic sock stuffed into a nylon stocking garnished with some black hair cut off a Halloween mask. It was funny, still is.

    As someone who dressed up as Farakhan for a costume party in the 90s. I see little wrong with what the governor did. Everyone needs to lighten up a bit.

  63. The Original NJ ExPat says:

    Can you imagine predicting to someone back then that their career will end in 30 years when this picture surfaces?

  64. Fast Eddie says:

    From my understanding it’s damn near impossible to convince people to relocate to the Garden State.

    It’s impossible for an outsider to understand the moxie one acquires growing up here. It’s especially true for those who grew up in Hudson County well before the millennial locust migration.

  65. The Original NJ ExPat says:

    That’s how HIV/AIDS got started.

    Stock but backs were illegal until 1982.

  66. The Original NJ ExPat says:

    https://finance.yahoo.com/news/cuomo-blames-trump-tax-plan-185801569.html

    (Bloomberg) — New York collected $2.3 billion less income-tax revenue than predicted for December and January, a development that Governor Andrew Cuomo blamed on wealthy residents leaving for second homes in Florida and other states that received more favorable treatment in the tax law enacted by President Donald Trump and the Republican Congress.

    The shortfall will require a new look at the $175 billion budget Cuomo submitted to the legislature last month, he said. If the trend continues, the governor said it would affect spending on high-expense items such as health, education, infrastructure and a planned middle-class tax cut.

    Cuomo, a Democrat, ridiculed members of his political party who are calling for higher state taxes on the rich, saying the top 1 percent of earners already account for about 46 percent of state income-tax revenue.

    “Tax the rich, tax the rich, tax the rich — and then the rich leave. And then what do you do?” he asked. “It would be the absolute worst thing to do right now. At the same time, you don’t have the ability to reduce taxes on the rich because that would just expand the shortfall.”

  67. 3b says:

    Fast those days are over. I know you grew up here but the state is in decline and has been.

  68. The Original NJ ExPat says:

    Exactly. That’s exactly it. They’ll drive him out and then point to Trump and say, “We got rid of our racist, now what are you going to do?” Same as Al Franken, “We got rid of our puzzy grabber…”

    Northam is a 2020 problem. Democrats can’t falsely accuse ever Republican of racism if there’s photo evidence a Democrat is an actual racist.

  69. The Original NJ ExPat says:

    I would guess a very small minority of households in NJ are formed by two native born US citizens where at least one of them wasn’t born in NJ or one of five boros.

  70. ExEssex says:

    3:01 moxy or pure rage at being over-taxed and over regulated…? Pushing costs to live in NJ into the stratosphere .

  71. Juice Box says:

    re: 3:10 PM – 2.3 Billion in shortfall over two months, that is going to hurt. Not long ago De Blasio was saying rich New Yorkers will never leave and the city should tax them more with a millionaires tax.

    I guess a penthouse in Miami or Tampa isn’t so bad, especially if you get to keep hundreds of thousands or perhaps millions for some in annual taxes NY or NJ would have otherwise taken from your wallet.

  72. No One says:

    My wife who was born in China looks at what the ultraleftists are doing in the Democratic Party and tells me it sounds like the Red Guards during Mao’s Cultural Revolution. When only the purest revolutionaries could survive the purge. In related news, some of my daughter’s classmates at a highly ranked private school are now promoting the Black Panther party. (Not the movie, but rather the ones studying Mao’s Little Red Book and fomenting revolution in the 1960s)

  73. 30 year realtor says:

    Are there any black commentators in this forum? How do all you white boys know exactly how offensive blackface is? Give this a little thought.

  74. Provocateur says:

    Do you know how offensive it is to Ottoman to be called one of the “white boys”?
    Is it more offensive than when popular rappers call people “N#####S” and women “bitches”?

  75. ExEssex says:

    I’m white – but Eastern European so prolly A little too Kosher for the KKK .
    Lived all over the Countty. Generally found folks agreeable enough, but times change, or do they stay the same…. I’m aging out of most shit and I live in a bubble. I can feel some empathy for the enslaved and exploited. The hated and the outsider. Yet, I think all
    Groups can easily become unruly and counter-American if they refuse to assimilate.

  76. 1987 Condo says:

    I mentioned the NYC property tax issue a few times, particularly on Staten Island. The trick there is that they increase the mill rate AND the assessed value annually.

    https://www.silive.com/news/2019/02/we-cant-stay-here-says-staten-island-resident-about-rising-property-taxes.html

    (Interesting to read some comments, some folks there think that each homeowner has to privately contract for garbage and snow removal, lol.)

  77. Jason says:

    A rain tax, just another clever way to separate taxpayers from their money. First they’ll impose it, and then they’ll raise it. The old “boiling-frog” technique.

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