From the Star Ledger:
Which are the hottest counties in N.J. for new business?
Hank Sauce is made in small batches by hand, when the restaurant in Sea Isle City run by Josh Jaspan and his two former college roommates closes for the off season.
Soon, however, Jaspan, Matt Pattaluga, and Brian “Hank” Ruxton—a chef who created the hot sauce bearing his name, expect to open a production facility in Millville’s Urban Enterprise Zone with the help of a $695,000 loan backed by the Small Business Administration.
Jaspan, who said the money will provide working capital for their growing operation, said they faced limited options when they looked to finance their expansion.
“When it comes time to grow and all the options are on the table, you can give equity and give up part of your company to whoever wants to invest, or you can go to the bank and try to get a loan,” he said.
…
Jaspan had a lot of company this year. The SBA said it approved a record $869 million in loans to New Jersey small business owners in fiscal year 2017, which ended Sept. 30.“We’ve reached out more, and the better economy has led to more spending,” said John Blackstock, the SBA’s New Jersey District deputy director.
Overall, the agency approved 2,326 loans, compared to 1,755 loans totaling $806 million in the last fiscal year. Officials said it was the first time since 2008 that the New Jersey office approved more than 2,000 loans.
He said 18 of 21 counties saw increases in the number of loans that were made. “It tells us our lending programs are making an impact,” said Blackstock.
Good Morning New Jersey
“Rep. Rodney Frelinghuysen, Trump’s most important ally in the state, seems to be losing his mind. He just voted for a budget that would eliminate the federal deduction for state and local taxes.
That means New Jersey’s ruinous and regressive property taxes would bite even harder. And middle-class families in his 11th district would be among the biggest losers in the country. Thanks, Rodney.
“It looks like he is about to retire, or is trying to lose his seat,” says Dave Wasserman of Cook Political Report, a non-partisan think tank that tracks elections “He’s not raising much money for re-election. He’s taking unpopular votes. This district is teetering on the edge of a toss-up in our view.”
If Trump is to be stopped, the race in the 11th district is the kind of fight Democrats must win next year. Four Democrats are lining up to take a shot, but the dream candidate is Mikie Sherrill, of Montclair, who served as a Navy helicopter pilot in the Mideast, and as a federal prosecutor. She raised an impressive $500,000 in the last quarter, more than three times what Frelinghuysen did.
“Republicans in Congress are supporting an administration that is attacking everything I fought for in the Navy,” she says.”
“Every other Republican from New Jersey saw that this was no time for games; it was a time to draw the line, and to force party leaders to start over. “It’s too important for New Jersey for me to vote any other way,” says Rep. Leonard Lance (R-7th).
The regional bias is striking. Blue states like New Jersey, with higher incomes and taxes, would pay the most. Morris County, the core of Frelinghuysen’s district, would be among the hardest-hit in the country, with 42 percent of households using the deduction for state and local taxes, for an average of over $20,000.
Middle-class families would take the hardest hit, since the rich would benefit from other provisions. According to the Institute on Taxation and Economic Policy, the biggest burden from this provision would land on families earning between $78,000 and $328,000.
Squeezing this money from blue states like New Jersey allowed GOP leaders to protect deductions that are more popular in red states, like those for home mortgages and charitable giving.”
How pathetic is it that the likes of Fabius would defend the clintons with a lame analogy? Bill is a s3xual predator and Hillary is a failed politician. Their greed looks like it will lead to the demise of the Democratic Party as we know it yet low iq fools continue to shill for them.
Boom!!
“Bowing to concerns from Republican House members in high-tax states, the chamber’s chief tax writer said he’ll preserve a federal income-tax break for property taxes.
“At the urging of lawmakers, we are restoring an itemized property tax deduction to help taxpayers with local tax burdens,” House Ways and Means Chairman Kevin Brady said in a statement Saturday afternoon.
The announcement was welcomed by Representative Chris Collins, a New York Republican, who said the compromise would address the need “to protect middle income working families” in states like his own. He predicted it would assuage Republicans’ concerns.
But in a sign of the complex balancing act that Brady must perform to produce a tax-overhaul bill this week, the property-tax announcement came on the same day that the National Association of Home Builders pulled its support for the legislation. The group’s chief cited concerns that the bill might undermine existing tax breaks that support the housing market. Likewise, a coalition that includes the National Association of Realtors said in an emailed statement that it “will vigorously oppose this plan.”
Brady’s statement was aimed at resolving an impasse between House leaders and roughly two dozen Republican lawmakers from states including New York and New Jersey over an attempt to repeal federal tax breaks for state and local taxes. The issue threatened the bill’s prospects in the House. Brady plans to introduce actual bill text Wednesday.”
https://www.bloomberg.com/news/articles/2017-10-28/ryan-s-tax-bill-loses-home-builder-support-before-it-s-released
And then there were no low skill minimum wage jobs…
“Just because you don’t fire a human the moment you buy a robot, doesn’t mean you won’t hire fewer humans further down the line.”
https://www.theverge.com/2017/10/27/16556864/walmart-introduces-shelf-scanning-robots
Pumps what claptrap are you quoting today? “He just voted for a budget that would eliminate the federal deduction for state and local taxes”
No the budget bill does not include the changes to tax code. Separate tax legislation must still pass through each chamber, then differences to then need to be hashed out before sent for Trump to sign. Allot can and will happen.
Juice, the source was nj.com. An opinion piece by Moran.
“Ten years ago there were about 100 companies making spirits in the United States. Today, there are nearly 1,400, according to the American Distilling Institute.” -The New York Times
The real threats to small businesses in NJ are politicians and career government employee that keep driving taxes way up.
The small business in NJ cannot stay alive because it’s underlying expenses for doing so are just way too high. Why? …Because NJ politicians and career government employees just keep “taking.” They “constantly” raise taxes so high that they’re artificially driving the costs of small business products and services way up (much higher than they need to be).
If someone wants to open up a small business like a hotdog or sandwich shop in towns like Westfield, Ridgewood, Red Bank, or Summit, their rents are so high that they either have to have unreasonably high foot traffic or they have to charge outrageously high prices for simple things. Imagine $10 hotdogs and $15 sandwiches! It’s nuts.
High taxes artificially drive up real estate rents/leasing. They artificially drive up the costs of local products you purchase to create your own products for resale. And, they artificially drive up the costs of services you require to run your business(es). We need to massively reset taxes in NJ and that starts by massive salary cuts to government employees. Otherwise… be honest with yourself and get ready for the long-term small business blight that will start to hit NJ.
Add this to the fact that most smart big businesses leave NJ because of its high taxes and you’ll soon realize that NJ politicians and bureaucrat are incompetent self-serving morons that are unnecessarily driving NJ businesses 1) either out of the state or 2) into the ground.
How did I miss this?
https://www.theverge.com/platform/amp/2017/10/22/16516064/tesla-reached-deal-factory-china-shanghai-electric-vehicles-cars
Umm no. You are so full of it. This is not due to taxes or govt employee pay checks. It’s due to economics. Why do you think everything costs more in Manhattan? Govt employees and taxes? You are a hardcore conservative, spreading nonsense propaganda due to your obsession with low taxes. You are nuts.
“If someone wants to open up a small business like a hotdog or sandwich shop in towns like Westfield, Ridgewood, Red Bank, or Summit, their rents are so high that they either have to have unreasonably high foot traffic or they have to charge outrageously high prices for simple things. Imagine $10 hotdogs and $15 sandwiches! It’s nuts.”
Wtf? High taxes do not drive up real estate rents, market participants do. Since you are advocating for lower govt salaries, why don’t we first start with you. Indeed, you are right about one thing, artificially lowering the income of everyone in nj will lower property values and rents. Good luck with that. I doubt that you are willing to lower your pay to lower the cost of everything, right? I said right?
Btw, urban areas like east orange have high taxes, but low real estate prices. So blows your assumption about taxes and govt employees out the door. East orange prices are low because the market participants who have money do not want to compete over real estate in that location.
Go move to a low cost state and leave the govt employees in this state alone. You will be much happier. You don’t belong in jersey, or any high cost location, you clearly can’t handle it.
“High taxes artificially drive up real estate rents/leasing. They artificially drive up the costs of local products you purchase to create your own products for resale. And, they artificially drive up the costs of services you require to run your business(es). We need to massively reset taxes in NJ and that starts by massive salary cuts to government employees. Otherwise… be honest with yourself and get ready for the long-term small business blight that will start to hit NJ.”
Companies moving to South East Asia due to low taxes
https://www.bloomberg.com/news/sponsors/features/pgim/emerging-opportunities/?adv=13725&prx_t=Wf8CAKIwTAUt8PA
And the 10 dollar hot dogs are justified in Ridgewood and summit. The market participants in those locations drove up the price of land, which drives up the cost of everything else.
Can’t stress this enough, there is a direct correlation between high taxes and the income of that area. People like 3b can’t understand this. They think you can have a low cost location with low taxes, and at the same time have an aggregate of high paying jobs. Dream on!
As soon as most of the market participants in a given location are being paid lots of money, it will become a high taxed/high cost location.
Yome, yes, it’s low taxes because the area is based on slave wages. How can you have high taxes with slave wages?
Jeez, why is the rent so high? Who can afford this? Market participants. People who cry about the taxes and cost of real estate in nj just don’t understand how much money is in our state.
https://patch.com/new-jersey/wayne/s/g9nbn/see-the-nj-mansion-that-rents-for-100-000-a-month?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert
Pumps I asked you to leave me out of your ramblings. The only who does not understand is you.
Fab very sad and pathetic to defend Clinton. Like I said tortured explanation. He was the President. She was a troubled young woman. That’s why you self identified liberals are such hypocrites.
Ramblings? You are mental midget when it comes to economics. You want great pay and low costs, signs of retardation in your understanding of economics.
3b, look at Seattle as a case study in what happens when lots of money comes in. Look at their median home price. You are so dense, it’s blows my mind. For you to equate my posts as ramblings says it all.
“Cities in the running should “be careful what they wish for,” said Timothy Egan at The New York Times. “Well before Amazon disrupted books, music, television, furniture — everything — it disrupted Seattle.” Here in the home of its first HQ, Amazon has detonated a “prosperity bomb.” Sure, we got tens of thousands of high-paying jobs. But the median home price has doubled in the past five years, to $700,000. The traffic is maddening, and Amazon occupies a full fifth of our best office space. The company has quite simply altered our city in ways residents “never had any say over.” The victor will no doubt have to fork over billions in tax breaks, said Katy Steinmetz at Time. That’s likely to be a raw deal for locals, because when a company attracts new people to a region, public costs — “hiring more teachers, fielding more 911 calls, widening roadways” — often rise substantially. If Amazon gets a pass on contributing, residents will be rewarded with “a higher tax bill.”
I think it’s “obnoxious for a healthy company to insist on getting these enticements,” said Robert Reed at the Chicago Tribune, but “it’s now a fact of corporate life.” If one city doesn’t play ball, another one will. But in this case, the benefits “outweigh the publicly backed giveaways.” Chicago’s bid estimates that Amazon could generate $341 billion for the local economy over the next 17 years. Still, I’d like to appeal to Jeff Bezos’ better angels, said Virginia Postrel at Bloomberg. Does he want to be a “responsible corporate citizen” and use this opportunity to challenge civic leaders to create better cities for residents? Or does he want Amazon to “go looking for handouts”? As it weighs its many options, Amazon “should consider what its high-profile decision says about its values, priorities, and identity.””
Moran is a partisan hack. Full of sh1t.
Pumps go back to your spreadsheets you little twat. You are a moron. Post all the ramblings you want just leave me out of your posts.
I confirms D-FENS on that. Moran is the Star-Ledger’s chief apologist and propagandist . I haven’t read that rag in years. The SL also bought out our county’s main periodical, The Democrat. Turned it into crap, don’t print local editorial replies anymore either. I still subscribe to it because my wife still reads whatever local based news appears there.
Circulation is down from 21k to 19k in 2 years. 10%
“My interviewees never talked about themselves as “rich” or “upper class,” often preferring terms like “comfortable” or “fortunate.” Some even identified as “middle class” or “in the middle,” typically comparing themselves with the super-wealthy, who are especially prominent in New York City, rather than to those with less.
When I used the word “affluent” in an email to a stay-at-home mom with a $2.5 million household income, a house in the Hamptons and a child in private school, she almost canceled the interview, she told me later. Real affluence, she said, belonged to her friends who traveled on a private plane.“
https://mobile.nytimes.com/2017/09/08/opinion/sunday/what-the-rich-wont-tell-you.html
Nobody gives a shit about the Clinton’s anymore. Move on you Cucks. You got your own problems and I believe most of ya’ll dumbasses bring the shit on yourselves.
@TheGreatPumkin. For someone who criticizes others of not understanding economics, I can say you clearly do not understand economics if you do not understand the impact of taxes on direct and indirect expenses. I’ve built 9 businesses over the course of my life (selling 4) and still owning 5. Taxes are at the heart of everything.
If you don’t understand the economic impact of taxes on businesses (small and large), I suggest you stop criticizing others.
Ex Agreed on Clinton. Then let’s move on from the grab email. Right? The left is outraged by that comment. Yet Clinton did what he did and the left was silent. Let’s
Be consistent in our outrage.
nwnj / 3b,
First the main point I am making yis that sweeping generalizations are just moronic and usually wrong. Anytime you say “All x is Y”, if you are not backing it with empirical evidence you are wrong.
Next the biggest scandal with Monica is not Bill. It is how she has been treated over the years from the Bill H8ters. As she said herself, she was patient zero for Cyber Bullying. 30 years later she’s still getting attacked on bumper stickers. Where is your faux outrage for her?
These days any time I see an attack on Clinton, I wonder, what are you trying to distract from. https://twitter.com/realDonaldTrump/status/924096747122634752
Fab this is exactly what I am talking about tortured. Empirical evidence? Really? You know what I am talking about yet you are deliberately being obstinate. Let’s recap.
The left was outraged with Trump s grab email comment. How could this man be president? Clinton as the President took advantage of a troubled young woman young enough to be his daughter. It could never be deemed consensual based on the fact he was President. If you refuse to recognize that fact well then that’s quite sad.
The left stayed silent. Why? There is no faux outrage on my part that poor woman’s life was destroyed while Clinton went on to become anytime millionaire. Monica Lewinsky got nothing. And one can make a reasonable assumption that many of those bullying her are liberals.
Faux outrage about the grab email comment by Trump by the left silence on what Clinton did because he is a so called Liberal. Wouldn’t it be nice if appalling behavior was condemned by all sides regardless of whether it was committed by a so called Liberal or so called cconservative. It is the hypocrisy I despise.
who gonna b charged tomorrow?
line up the pardons
Jeez this place is wingnut central now. 3b you’re not fooling anyone with your faux centrism. You are just as crazy partisan as nwnj, fast eddie, dfens and the rest of the trumpnuts here.
You do realize there are many women who came forward to accuse trump of sexual harassment? Non consensual. Ill just assume you believe the administration line that every one is lying. Or you don’t know they even came forward which is also possible bc again you are an obvious partisan.
What is the “grab email” comment by the way.
Also this whole tortured argument that lewinsky clinton wasn’t consensual bc clinton was president is an embarrassment for all who are indulging it. Sorry Grim…it was consensual. It was certainly an abuse of power, poor judgment, etc….but a crime….nope.
Pete I have no idea who you are not do I care. But do not accuse me of being a faux centrist and it’s an insult to be called a wing nut. I did not vote for Trump nor Hillary. And yes I am a centrist for lack of a better term. No easy task. No Clinton did not commit a crime but it was deplorable and he was never called out on it by the left. Trump was vilified for his grab email comment. The left outraged. As for the accusations against trump he certainly may have looks like it’s a thing now. I guarantee you had it been Bush and Monica the left would have been howling. Amazing to me you and other so called Liberals refuse to acknowledge that.
Also i haven’t checked the wingnut sites but i fully suspect that defens, nwnj, and the rest of the propaganda guzzling crew are scouring and scrambling to get their marching orders. Mueller is compromised, clinton is the real russian puppet, whatever. Theyll guzzle it and spew it back out here and elsewhere bc that’s how far gone they are.
Pete kettle/pot.
3b you are a “so called centrist” Bc you obviously would’ve voted for trump if you weren’t in nj. The fact that it’s uncontested gives you the clearance to say you didn’t vote for him bc you do understand hes an irredemable piece of garbage but you kind of agree with what he says for the most part. He “speaks the truth”, right? Which you have to be so far detached from reality to think that Trump and honesty have any sort of connection whatsoever.
Pete like I said you know absolutely nothing about me. NJ or Alabama I would not have voted for him or for your girl Hillary. Keep on drinking the kool aid son.
Life insurance is not subject to income tax, but is subject to estate tax if effective control/ownership of the policy is maintained through death. To the extent the estate tax is eliminated and there is no provision is added to tax life insurance, then there is your answer. However, pretty much anyone who has a big enough estate to be subject to the estate tax in NJ has set up some form of ILIT……
Phoenix says:
October 28, 2017 at 7:41 pm
Chifi, how does this affect life insurance?
3B, I know enough about your incessant redundant posting about “so called liberals” and nary a mention about conservative hypocrisy despite there being some true wingnuts that frequent this board daily. Its fine….just dont pretend youre a centrist. You’re on the crazy train with them despite whatever discomfort you may feel about it.
Also the fact that you engage almost daily with pumpkin despite the fact hes an obviously impaired individual lets me know alot about you. How many times have you said you were going to ignore him and you never did? Its quite pathetic. The only thing worse than the spit he spews is those who play along with it.
Pete I have been criticizing the neo cons for years. I despised Bush and his disastarous wars in the Middle East. And the O Reilly’s and their fake patriotism. It’s been self evident to me that they are hypocrites and don’t care about the average working American. As for trump why bother criticizing him he is a bafoon. No arguments from me on that. An absolute disaster. I have more comtempt for so called liberals because they claim they are better morally superior compassionate defenders of the every day people. They are anything but. And for years if you were paying attention to my posts you would have noticed I have repeatedly said both parties are the flip side of the same coin. The so called liberals worse because they claim they are better. If you cannot see that with the Clinton/lewinsky Trump / grab em analogy then that’s your blindness.
As for you points on pumps agreed. You are right. What can I say we all have our faults. He brings out the worst in me. The thought got that uninformed people may actually be listening to his crap advice is frightening.
Elimination of SALT means the federal government gets a bigger chunk of lottery payouts too, correct?
Suspect this is a big number nobody is talking about.
3b A few things.
I objected to the comment ““Consent is not possible in the situation.” Its a discussion on the definition of consent. Its not a discussion on who was outraged at what. You are the one trying to drag it sideways into a left vs right argument.
Now that we see your faux outrage on Monica’s behalf, can we have some for Hillary. How about all the Garys of the world for her personal decision to Stand by Her Man.
For the point that the Monica story broke, up to the point she decided to run for office, did she deserve all the garbage thrown at her?
I don’t care about any politicions marriage or preferences up and until the point they cross a line. A GOP gvnr can go “walk the Application Trail” or a congress critter can pick up people in Airport bathrooms. Just don’t run on Family Values. If Donnie wants water sports, not a problem, Pee away Melania! But if he’s compromised by the Russians I have an issue. If he grabs a handful and shes happy, I can’t say anything. But the line of accusations is growing. And the walking backstage at the pageants and everything with Trump Modeling crosses the line.
As for presidential affairs: Take your pick and give me your outrage.
https://listverse.com/2015/02/24/10-scandalous-presidential-affairs-weve-totally-forgotten-about/
My personal favorite:
“Meanwhile, LBJ didn’t limit himself to only one affair, once bragging that he’d “had more women by accident than Kennedy ever had on purpose.” After Lady Bird walked in on her husband having “” with one of his secretaries in the Oval Office, the Secret Service installed a buzzer system to alert the President whenever his wife was nearby.”
Fab like I said tortured argument. Outraged at trump grab em comment silence on Clinton and the b s consent arguement. You are the one who took the arguement sideways backwards and upside down. I am done with this topic.
3b,
Don’t worry, just you keep Tilting at Windmills Don Quixote!
Fab
Right back at you Sancho Panza.
Oh spare me the bs. I think I clearly understand. Yes, it has an impact, but nowhere near to the extent you proclaim. Besides, when every business in that market is facing the same cost in taxes, how exactly would it put any business out of business? They all would have to adjust price to reflect market conditions. For example, I’m a landlord. If my taxes go up 10%, guess who picks up the cost? Do I go out of business? No, customer just pays it.
Guomino says:
October 29, 2017 at 3:12 pm
@TheGreatPumkin. For someone who criticizes others of not understanding economics, I can say you clearly do not understand economics if you do not understand the impact of taxes on direct and indirect expenses. I’ve built 9 businesses over the course of my life (selling 4) and still owning 5. Taxes are at the heart of everything.
If you don’t understand the economic impact of taxes on businesses (small and large), I suggest you stop criticizing others.
Yup….perfectly said!
“Perhaps you’ve heard a politician or two, in an accusatory tone, declare New Jersey has the highest taxes in the nation. It’s become a rallying cry for the current administration. It is repeated as an indisputable fact by the media. But mostly it just sounds right to people, perhaps because it so neatly fits the cynical narrative of government waste, fraud and abuse.
The thing is, it’s not true.
Consider this from a recent press release by the Connecticut House Republican Party: “Connecticut residents already pay the highest taxes in America.”
Or this from the Buffalo News editorial page: “New York is the most overtaxed state in the nation.”
Nope. According to the Orange County chapter of the Lambda Alpha economics society, “California is the most overtaxed state in the nation.”
And from a conservative pundit in Chicago: “I live in Illinois … the most overtaxed state in the union.”
But wait. There’s another. The vice chair of the Maine Republican Party has said, “Maine is currently the most overtaxed state in America.”
They can’t all be right.
For the record, New Jersey ranks eighth among all states when state and local tax revenues are compared as a percentage of taxpayer’s personal income, according to an analysis using data from the U.S. Census and the U.S. Department of Commerce, Bureau of Economic Analysis. It’s the cleanest comparison of the tax “burden” in all 50 states. New Jersey’s ranking drops considerably once you get past property taxes and look only at state tax collections.
Simply comparing total revenue collected from taxes in each state would produce a wholly inaccurate comparison because poorer, less-populated states would always appear to tax less. Measuring as a percentage of personal income, or on a per capita basis, provides necessary context and a more accurate comparison among states.
Consider the big three state revenue sources in New Jersey – income, corporate and sales taxes – and then size up property taxes.
Income tax
On a per capita basis, New Jersey ranks seventh among states for income tax revenues, according to U.S. Census data. As a percentage of personal income, New Jersey ranks 19th among states.
It’s important to understand New Jersey is consistently at the top of lists that rank states in terms of median income and millionaires (those with at least $1 million in investable or liquid assets) as a percentage of households.
With all that wealth, the state also has a progressive income tax that collects significant amounts of its revenue from the wealthiest in the state and virtually none from the poorest, such as married couples whose incomes are less than $20,000 ($10,000 for a single person).
The progressive aspect of New Jersey’s income tax has evolved since the state’s first 2 percent flat tax was enacted in 1976. Public opinion polls show a vast majority approve of raising rates levied on income that exceeds $1 million a year.
Other states also have local income taxes. Philadelphia, for example, levies a 3.928 percent wage tax on residents and a 3.4985 percent wage tax on nonresidents on top of the state’s 3.07 percent flat income tax. Cities in New Jersey are barred from imposing income taxes on workers.
Corporate Tax
Corporate taxes in New Jersey rank ninth as a percentage of personal income and sixth when measured per capita.
New Jersey took in a little more than $2 billion in fiscal year 2010 from corporations, or 7.5 percent of all revenue collected by the state. However, 93 percent of the 252,000 corporations subject to New Jersey’s corporate business tax paid the state less than $2,000 each. Corporate revenues for the year surpassed $24.6 billion.
Sales Tax
Comparing revenue from the sales tax puts New Jersey 19th on a per capita basis and 36th when measured as a percent of personal income.
The state sales tax is often cited as one of the highest in the nation because of its 7 percent rate. However, it is applied more narrowly than sales taxes are in many other states.
Food, clothing and gas are exempt, for example. Depending how one looks at it, that is a loss to the state or a savings to taxpayers of about $2.6 billion.
Nor does New Jersey allow cities or counties to collect local sales taxes, which many other states allow.
Montgomery, Ala., levies a 10 percent sales tax (4 percent state; 6 percent local) on everything sold, including food.
In Georgia, a 12 percent combined state and local sales tax is the norm in some areas of the state.
Property Taxes
What’s abundantly clear, however you slice the data, is that New Jersey ranks among the top one or two states in the nation when it comes to property taxes, which are the only real source of revenue for local government in the Garden State. Last year, property taxes produced $25 billion in revenues, exceeding revenue from the state’s three major taxes.
In total, as a percentage of personal income, taxes in New Jersey rank about eighth among all the states. Considering it ranks near the top for median income and wealth, that designation hardly seems out of line.
But those are not the numbers pushed by anti-tax zealots. Groups such as the conservative Tax Foundation have cited New Jersey as having the highest tax burden in the nation, using a convoluted formula that doesn’t quite parse the intricacies of local tax laws.
For example, the Tax Foundation charges back to New Jersey the $2.6 billion in income taxes paid to New York by New Jersey residents who work in New York and must abide by New York tax laws, over which New Jersey has no control.
By the way, that $2.6 billion is not just a blip in the data. It is more than New Jersey collects from its corporation business tax, the state’s third-largest revenue source, and it is one of the largest income transfers from one state to another in the country.
All of this just points to the need to be careful when citing state rankings.
Some, such as the Tax Foundation’s, only obscure real facts because they allow politicians to cherry-pick data and use them to justify their political philosophy.
So the next time you hear someone say New Jersey is the most overtaxed state in the nation, look past the rhetoric and consider the real numbers behind the statement.
Click to see rankings for state and local revenue.”
https://www.njpp.org/media/editorials/n-j-does-not-have-the-highest-taxes-in-the-u-s
If you are going to call me out, provide the evidence. Get off your high chair, don’t call someone out if you can’t back it up.
“Also the fact that you engage almost daily with pumpkin despite the fact hes an obviously impaired individual lets me know alot about you”
Most on this blog should learn this. It always comes down to ideology.
“Some, such as the Tax Foundation’s, only obscure real facts because they allow politicians to cherry-pick data and use them to justify their political philosophy.
So the next time you hear someone say New Jersey is the most overtaxed state in the nation, look past the rhetoric and consider the real numbers behind the statement.”
Which stat is used on this blog? ….no wonder they think I’m an idiot, they are completely lost
“On a per capita basis, New Jersey ranks seventh among states for income tax revenues, according to U.S. Census data. As a percentage of personal income, New Jersey ranks 19th among states.”
Lefty,
You catch this part. Your state leeching off nj. Nyorkers are quick to put down nj, yet we give them how much money?
“But those are not the numbers pushed by anti-tax zealots. Groups such as the conservative Tax Foundation have cited New Jersey as having the highest tax burden in the nation, using a convoluted formula that doesn’t quite parse the intricacies of local tax laws.
For example, the Tax Foundation charges back to New Jersey the $2.6 billion in income taxes paid to New York by New Jersey residents who work in New York and must abide by New York tax laws, over which New Jersey has no control.
By the way, that $2.6 billion is not just a blip in the data. It is more than New Jersey collects from its corporation business tax, the state’s third-largest revenue source, and it is one of the largest income transfers from one state to another in the country.
All of this just points to the need to be careful when citing state rankings.
Some, such as the Tax Foundation’s, only obscure real facts because they allow politicians to cherry-pick data and use them to justify their political philosophy.
So the next time you hear someone say New Jersey is the most overtaxed state in the nation, look past the rhetoric and consider the real numbers behind the statement.”
GOP concede on State and Local Taxes and Mortgage deduction ?
http://money.cnn.com/2017/10/29/news/economy/state-and-local-tax-deduction/index.html?iid=hp-stack-dom
Yome…phew.