Need to raise the taxes

From the Star Ledger:

N.J.’s tax revenues are falling short of Murphy administration target

Midway through the fiscal year, New Jersey’s income tax collections have fallen off track, Gov. Phil Murphy’s administration reported on Monday.

Revenues for the fiscal year that began in July are expected to grow 7.5 percent over last year but slowed to 2.1 percent through December. The slowdown is driven largely by underperforming gross income tax collections that are budgeted to increase 5.4 percent — or $824 million — compared with last year. Treasury data shows they have fallen 6.5 percent below last year’s collections.

At 6.5 percent through November, all revenues had been just slightly lagging that 7.5 percent target. The income tax was beating its goal.

Last fiscal year, New Jersey collected $15.2 billion in income taxes, and the administration projects it will bring in $16 billion this year, thanks to a new “mega-millionaires tax” on income over $5 million. The gross income tax is the state’s largest single source of tax revenue.

Another major tax, the sales tax, remains behind the governor’s projections — growing by 1.2 percent compared with 6.2 percent. The Corporation Business Tax, which underwent a big update in this year’s budget, has grown 60.8 percent versus this time last year, where it is projected to grow 47.2 percent.

“Corporate tax revenues are expected to grow significantly due to substantial state and federal tax policy changes that influence the tax base and the timing of certain payments,” according to the Treasury Department.

This entry was posted in Economics, New Jersey Real Estate, Politics. Bookmark the permalink.

128 Responses to Need to raise the taxes

  1. grim says:

    If there was fraud, by all means prosecute, but I’d be very concerned that the business community will see this as an attack.

    https://www.nj.com/politics/2019/01/murphys-ag-opens-probe-into-christies-corporate-tax-breaks.html

  2. Long time reader but rarely post says:

    >>“The capped federal SALT deduction may have prompted a change in tax planning behavior this year…

    Yep, I increased my 401k contributions in response to the SALT limit.

    >>…”because it eliminated the incentive to prepay the estimated fourth quarter payment in December, which is due January 15,”

    ahh, hrm. Nvm.

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

    I don’t usually post asinine stories about how much time politicians spend on vacation, or at ball games or on closed beaches. But the number here is really disgusting.

    https://www.nj.com/politics/2019/01/heres-how-many-days-phil-murphy-was-out-of-state-in-his-first-year-was-it-more-than-christie.html

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

    Here’s more proof that Murphy is the worst governor NJ has ever had. Only one year in by the way.

    https://www.politico.com/states/new-jersey/story/2019/01/11/beach-cammarano-wanted-sweeney-to-ease-up-on-him-in-advance-of-testimony-785502

  5. Fast Eddie says:

    He’ll get reelected. Those who vote Dem like to see the productive class pay for their laziness.

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

    Finally,

    Was down in Trenton at a very good Spanish Restaurant called Malagas on Saturday night for a dinner with the cousins. Though there was absolutely no chance of snow in the forecast for nearly all of NJ except for the southern most counties. Every highway in the state was brined again. As I got on the turnpike on the drive home, there were 9 plows and salters lined up and idling at exit 7A (195). All up and down the turnpike, there plows, salters and tow trucks driving around doing nothing. I wonder how many millions in overtime were spent again fighting a storm that never happened.

    https://www.wunderground.com/history/weekly/us/nj/lakehurst-nas/KNEL/date/2019-1-12

    Was anyone else out around 9pm Saturday night? This state is so corrupt!

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

    And remember,

    Murphy’s big three campaign promises.

    1) Fill the pension hole (he actually increased it)

    2) Fix NJ Transit (delays have actually increased)

    3) Raise revenue from creation of state bank (didn’t happen)

    4) Raise revenue from Mary Jane (no closer today than when he took office (though count of states with legal use/non medical is now up to 10)

  8. leftwing says:

    Re: the lead-in article, it’s the usual unintelligible stream of consciousness writing that seems to be the SL trademark. If I understand correctly, December personal income tax receipts have plummeted which turned a slight total receipts ytd shortfall into a steeper decline despite much higher corporate receipts. Both the above factors seem to be at least partially influenced by one time events and may be offsetting, although that is unclear from the article?

    Really, these ‘reporters’ should try to compose at least at a HS English class standard…

    Separately, since this town is mentioned occasionally some real estate news from this morning. Only link I could I find is the local Patch…

    https://patch.com/new-jersey/bloomfield/jury-names-value-bloomfield-property-legal-battle-report

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

    Yeah, I can’t count.

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

    Lefty,

    I couldn’t follow it either.

  11. Juice Box says:

    Grim – that State program (the grant portion) gets de-funded by the legislature all the time, they owe my company money on jobs we brought here and it was negotiated properly there are checks on the number of jobs and lots of paperwork. This jobs program was back loaded to future years as well, about a billion in tax revenue from NJ businesses each year for the next 3-4 years, total deals were $8 billion of grants and tax incentives for more than 300 projects to get companies to keep 35,000 jobs here and move and additional 45,000 jobs here (many from NY).

    The AG and Gov Murphy are going to have a tough time proving companies like Prudential did not save or move jobs here. The put up a another high rise office in Newark and stayed here for the long term because of the program. I have my doubts they will be able to save those billions in tax receipts. Too many smart lawyers were involved in these deals.

  12. Juice Box says:

    Another point the State grants and tax breaks need to be renewed by the legislature, there is pending legislation to do it (keep the program). If the Governor is going to veto then by implying there is or was fraud in the program is a good way to do it. They may find some fraud where one of these 300 programs Christie’s team negotiated did not save or create the jobs, but if they pull the rug out on this program the reverse could happen and companies will not come here or stay.

  13. GdBlsU45 says:

    The Chris Christie story is the story of unfulfilled potential. TONS of talent. He had huge momentum and political capital established. When he needed to make tough calls and really shake up the establishment he didn’t have the guts. He n vet kicked the cronies out of the pension plan. He never took on Abbott or the affordable housing scam. He always reverted back to the safe position and the security of the establishment.

  14. ExEssex says:

    Trump grants Putin’s fondest wish. Let’s leave NATO. Great. Again. No doubt.

  15. Bystander says:

    ..and disgusting food served by a disgusting president. Maybe a proud, patriotic and cathartic moment for Dumpy supporters.

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

    Even Billy C., liked the occasional Big Mac!

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

    Didn’t we all know that already CC?

  18. Bystander says:

    “Warlords”, one of the best SNL skits of all time. Still, he is a strange weirdo serving it by candlelight and calling it “great, American food”. I would bet athletes at that level know something about good food vs. that slop.

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

    The linemen can eat anything.
    The secondary care about their intake.

  20. GdBlsU45 says:

    Uh he’s appealing as a populist. It got him elected president. TDS in effect once again obvious by the recent comments and the russia paranoia.

  21. Bystander says:

    The derangement is on supporters side, thinking he is some savant carefully playing a chess game with media and world. He is a charlatan buffoon who thinks radical stubbornness is leadership. This ain’t real estate. No one on other side is waiting to get paid handsomely if deal gets done. It is quite opposite.

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  23. Fast Eddie says:

    Yeah, so let’s elect Elizabeth Warren or Bernie or Booker. Hey, maybe Hillary will run again! Yes, the dems have a bevy of visionaries to parade. I made more money under Trump than eight years of the big-eared, empty suit. 10 trillion of debt accumulated that no one talks about. I like f.ucking money, like making it, like working for those who know how to make it. If one is an outcast, doesn’t know what gender they are nor why they fit in, that’s not my problem. You want to pay for it? Go right ahead.

  24. Fast Eddie says:

    Don’t expect anyone to cry tears over another’s so-called misfortunes. Survival is dependent upon yourself. Need two jobs? Then get two jobs. Need to work seven days a week. Poor, f.ucking you. Gotta clean bathrooms? Then f.ucking do it instead of getting high with make-up streaks running down your face because you want the world to appease you. Gimme a break. Trump’s a blowhard… boo f.ucking hoo.

  25. ExEssex says:

    Eddie you are ridiculous .

  26. chicagofinance says:

    I didn’t realize the backstory…… it is actually kind of humorous in a cool way….I think fast food is crap, but this is kind of charming…

    “The greasy grub — which was served on silver platters — was paid for by the junk food-gobbling commander-in-chief himself due to the partial government shutdown, Trump said. White House kitchen staff were furloughed and not working.”

    https://nypost.com/2019/01/15/trevor-lawrence-was-a-big-fan-of-trumps-fast-food-feast/

    Libturd…look me up in Costa Rica says:
    January 15, 2019 at 1:34 pm
    Even Billy C., liked the occasional Big Mac!

  27. Not Bystander says:

    Yes, but. When you got nothing to lose, well blow it up!.
    That is the psychology of fly over country. This is what happens when the Dems, the protector of the working class became Wall Street lackeys under Clinton. That is what happens when the GOP then move themselves to the lunatic right following the mythical libertarian free market unicorn and the new messiah sightings.

    I’m a proud humanitarian science and logic based pragmatic liberal. BUT Trump will have my vote again, if the Dems put another morally and intellectually bankrupt corporate dem boomer as candidate.

    Trump has decimated anything previously known as republican. He might need another 4 yrs to do the same to the democratic party. Even if he’s a tax cheating, money launderer, russian influenced, racists gourmand.

    The way I see it, his damaged will be way less than another morally and intellectually bankrupt corporate boomer. The kind that gave the country away to the Chines Communist Party, that gave the store away to Wall Street (Clinton, Bush, Obama), Big Pharma (Bush, Obama), Big Health Insurance (Obama), and Military Industrial Contracting Complex (Bush). And in the process destroying hope in the country.

  28. The Original NJ ExPat says:

    After the wall and winning re-election in 202o, Trump’s next big acronym will be MALSA.

    MALSA – Make American Liberals Sane Again

    Get over your TDS puzzies!

  29. The Original NJ ExPat says:

    Maybe Trump will get to place 4 conservatives on the SCOTUS?

  30. AP says:

    Re: “morally and intellectually damaged Boomer”

    I think that knife cuts both ways

  31. Bystander says:

    Ed,

    I don’t like Warren at all. She is a fake. Still, your comments remind of another SNL skit , Grumpy old man. Who the hell cares about the .05% impacted by gender reassignment issues. It is circus sideshow sh&t that generate more clicks. Just remember that the biggest gender freak of all, voted for Trump. You may have seen he/she once on a Wheaties box cereal back when you were hating Farter Carter…or was that before you really get the venom for Dems? I thought you were raised by one. Either way, these parties are both unsupportable freaks.

  32. The Original NJ ExPat says:

    Who the hell cares about the .05% impacted by gender reassignment issues. It is circus sideshow sh&t that generate more clicks less dicks.

  33. RxEssex says:

    4:17 it actually is a nice human interest piece, that of course got turned in its ear. In the current climate, it’s hard to win.

    Anyways Gillibrand enters the fray.

  34. D-FENS says:

    Google Obama and cheeseburgers. Dozens of glowing stories about him going out for fast food and serving it at the white house during his tenure. Glowing coverage.

    Bystander says:
    January 15, 2019 at 1:17 pm
    ..and disgusting food served by a disgusting president. Maybe a proud, patriotic and cathartic moment for Dumpy supporters.

  35. D-FENS says:

    Cool president Obama goes out for burgers
    https://www.youtube.com/watch?v=13HM_96pUIo

  36. D-FENS says:

    anyone else see this?

    I’M A SENIOR TRUMP OFFICIAL, AND I HOPE A LONG SHUTDOWN SMOKES OUT THE RESISTANCE

    https://dailycaller.com/2019/01/14/smoke-out-resistance/?fbclid=IwAR1-jlTvUE-hzV_m_528Xr7cp-ZjbuO7UTOlhZX6-Q5JRdUPkoqSzkiiEBk

    There’s a hypothesis that this is someone like Steven Miller transmitting the plan to use RIF’s (government layoffs) after 30 days of the shutdown. “Non-essential” employees will have been exposed and at risk.

  37. GdBlsU45 says:

    It’s fine. The Democrats have become the coastal elitist and open borders party. They now reject science and biology. Demonstrating snobbery in response to fast food is in line with their new attitude.

    The sooner becomes that working class do not fit in the democrat platform the better.

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

    This place is turning into a right wing tabloid.

    Agreed. There is no story behind cheeseburders.

    But Trump ain’t RIFFING out 800,000 workers. Now you all are just being stupid. And please refrain from posting from the Daily Caller unless you want me to have Essex start posting everything he reads in WAPO and Huffington.

    If we wanted to hear about any of that tabloid bullsh1t, we’d subscribe to Breitbart, the Sun, Foxnews or the Daily Caller.

  39. D-FENS says:

    Who said anyone would RIF 800,000 workers? Also I read and like WAPO and Huffington post and don’t hate anything Essex says. Un pucker your sphincter.

  40. The Great Pumpkin says:

    Lib is the man, that’s all I know. He truly doesn’t buy into the bs from either side. Not many people out there that can say the same.

  41. D-FENS says:

    Jaimie Dupree tweeted that article. The man is a fixture on the DC reporter scene.

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

    I really shouldn’t even address the potential of RIFfing, but my tight sphincter is prodding me to.

    First, is Trump holding these public workers hostage for his wall? Or for RIFFING. You really can’t have it both ways.

    There is no story here either, much like with the fast food (and pizza by the way). Some moron at the Daily Caller noticed that there is an old rule on the book for federal workers that states that after a 30 day furlough, public workers can be laid off if necessary. The jump to this being a Trump strategy is pure conjecture from the extreme right, who quite frankly, have probably seen their last days in the spotlight with the results of the mid-term elections. Trump is solidly on the wrong side of this shutdown. The polls say it. The workers say it. And now even some of his disciples are saying it.

    https://www.cnn.com/2019/01/15/politics/white-noncollege-shutdown-polling/index.html

  43. 30 year realtor says:

    Corruption and inefficiency know no political party. They are universal in government!

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

    Jaimie Dupree is more reliable than say his old cohort Hannity or the Oxy abuser. But he is A COX network guy and that’s solidly FOX. Not exactly an unbiased opinion.

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

    By the way, the forecast for this weekend could lead to some crazy icing (power outages, fallen trees, etc.). This could be followed by a rapid freeze meaning that whatever is not scraped up or melted is going to stick around for a long while. Roads on Monday could be pretty horrible. Best thing we could hope for would be more rain than ice or snow.

  46. Juice Box says:

    Gov Phil crying in State of the State address about tax breaks given 14 years ago? We have all heard of blaming the last administration for everything but this takes the cake.

    Phil isn’t happy that he has to now raise taxes so he sent State Attonery General Gurbir Grewal to investigate his own agency the Economic Development Authority to see if they can perhaps cancel some deals do to possible fraud.

    Hey Phil how about start with the Goldman Sachs deal in 2004? Interesting enough he did not complain when Goldman got their $164.3 million in NJ state tax credits in 2004 for the half empty tower they built in Jersey City. Where are the jobs Phil? That tower is half empty still, where are the taxes the ghost employees were supposed to pay all these years? You were Global co-head of investment division at the time Phil, was it you that shut down the move of the jobs across the river from NYC?

    Over the next 4 years an estimated 3.5 Billion will be missing from the coffers do to backloaded deals for corporations to keep and bring jobs here to New Jersey, that includes Goldman Sachs.

    https://www.nytimes.com/2014/06/12/nyregion/with-tax-incentives-new-york-and-new-jersey-fight-for-jobs.html

  47. Juice Box says:

    re: Please let it snow. I won’t care how bad the roads get since it’s MLK weekend and I will be skiing.

    We are heading out Friday for a cheap ski trip to the Poconos. I rented a condo for $120 a night on AirBnB, it has a lodge with an indoor pool and game room etc, and there is maid service too. I could save a bit more by renting gear off the mountain but that is always a PITA.

  48. The Great Pumpkin says:

    Amen! Human nature affects all. That’s why I have given up all hope in eliminating 100% of all corruption, you can only hope to contain it to low levels. If it’s at low levels, it’s a win.

    I would go on to add that corruption doesn’t care if it’s public or private. Same old result no matter what you tell yourself. Don’t sit here and tell me that private workers are less corrupt than public workers….they are both guided by the exact same human nature.

    30 year realtor says:
    January 16, 2019 at 10:33 am
    Corruption and inefficiency know no political party. They are universal in government!

  49. 3b says:

    Juice I was at GS when the JC building matter was going on. The original plan was to move the entire company across the water. But many of the rainmakers were not happy. The idea of telling their clients that GS was located in JC NJ and not NYC was appalling to them! Plus for entertainment purposes crossing back and forth to get to NYC was not attractive. The thought was opposition would eventually die down but it only intensified. In the end they elected to build the new headquarters on West St with tax breaks of course and sent compliance and ops to JC.

  50. The Great Pumpkin says:

    Scum bags. Every government has to make a pledge that they will no longer off tax incentives to big business. It goes against free market principles, and let’s be serious, it is a form of pure corruption. Just hooking up the wealthy at the expense of everyone else.

    Juice Box says:
    January 16, 2019 at 10:53 am
    Gov Phil crying in State of the State address about tax breaks given 14 years ago? We have all heard of blaming the last administration for everything but this takes the cake.

    Phil isn’t happy that he has to now raise taxes so he sent State Attonery General Gurbir Grewal to investigate his own agency the Economic Development Authority to see if they can perhaps cancel some deals do to possible fraud.

    Hey Phil how about start with the Goldman Sachs deal in 2004? Interesting enough he did not complain when Goldman got their $164.3 million in NJ state tax credits in 2004 for the half empty tower they built in Jersey City. Where are the jobs Phil? That tower is half empty still, where are the taxes the ghost employees were supposed to pay all these years? You were Global co-head of investment division at the time Phil, was it you that shut down the move of the jobs across the river from NYC?

  51. Juice Box says:

    3b – the politics of the corporate tax breaks is going to get interesting. There are probably a few large companies planning on leaving NJ right now. Honeywell for example moving to Charlotte. If word gets out that the Economic Development Authority isn’t taking calls anymore look out below. There is a $200 billion unfunded debt owed to public employee pensions and retiree health care obligations.

    You cannot get blood from a stone, you cannot get billions of dollars from people who have none. That is who will be left in NJ once the big companies leave and take the jobs and taxes with them.

  52. Juice Box says:

    pumps – “no longer off tax incentives” Good luck getting that one through Congress. What is happening here is what has been predicted for quite a while jobs are leaving to lower cost states. The Economic Development Authority was supposed to stop the bleeding. If Gov Murphy continues with his Jihad against the corporate tax breaks look out below.

  53. D-FENS says:

    You can have it both ways. It is exactly both ways. It’s leverage.

    Libturd…look me up in Costa Rica says:
    January 16, 2019 at 10:31 am
    I really shouldn’t even address the potential of RIFfing, but my tight sphincter is prodding me to.

    First, is Trump holding these public workers hostage for his wall? Or for RIFFING. You really can’t have it both ways.

  54. D-FENS says:

    Anyone remember Reagan and the Air Traffic Controller strike?

  55. ExEssex says:

    11:41 scary thought.

  56. ExEssex says:

    Christie writes that Trump has a “revolving door of deeply flawed individuals — amateurs, grifters, weaklings, convicted and unconvicted felons” surrounding him in his book “Let Me Finish: Trump, the Kushners, Bannon, New Jersey, and the Power of In-Your-Face Politics,” according to a report from Axios.

    He says the people were “hustled into jobs they were never suited for, sometimes seemingly without so much as a background check

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

    No one is striking doofens.

  58. D-FENS says:

    Never said anyone was.

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

    Day by day, Trump is losing more and more face on this one. Hell of a negotiator. He had a hell of a lot more leverage when he controlled the house. If he couldn’t get it then, why would he even try to get it now. I said this before. Obama couldn’t get Gitmo closed after 8 years. He didn’t hold the government hostage to get his way. Trump is blowing all his good will on this. And his followers call this negotiating.

  60. Joe says:

    Raising taxes too high in NJ will cause corporations and people to change their behavior moving to lower tax jurisdictions. At the very least corporations will grow their business outside of NJ leading to stagnant tax revenues. It is very sad that our governor does not understand this. We need economic growth not higher taxes.

  61. D-FENS says:

    It requires 60 votes in the senate. The Senate refused to give up the filibuster to fund it.

  62. joyce says:

    “Obama couldn’t get Gitmo closed after 8 years. ”

    He was never going to, just like Trump was never going to do the majority of what he says, just like they all never do.

  63. Joe says:

    Watch the economic IMPLOSION as all this plays out.

  64. The Great Pumpkin says:

    I wouldn’t call myself a conservative, but I am becoming more conservative as time passes. I’m at the point where they should just let the market take care of this mess on its own. If there is pain, so be it. Let nj die and have a re-birth. Let a lesson be learned here about putting so much power and trust in corporations.

    Let nj be a case study on how corporations come to a location, raise the salaries which drive up costs, run up govt costs, force govt to take on debt, and then slip out the backdoor when the costs come due. This is the story that we should let play out and learn from it. Those low cost locations of today are the nj of tomorrow. They are only low cost right now because the corporations have not taken over said locations. They will do the exact same thing as was done in the northeast and cities located along the great lakes. They will suck the area dry, and leave when there is nothing more to take.

    Hopefully, people will learn the lesson here and not repeat the same mistakes. Wishful thinking…I know. It will happen over and over.

    Joe says:
    January 16, 2019 at 12:39 pm
    Raising taxes too high in NJ will cause corporations and people to change their behavior moving to lower tax jurisdictions. At the very least corporations will grow their business outside of NJ leading to stagnant tax revenues. It is very sad that our governor does not understand this. We need economic growth not higher taxes.

    Juice Box says:
    January 16, 2019 at 11:41 am
    3b – the politics of the corporate tax breaks is going to get interesting. There are probably a few large companies planning on leaving NJ right now. Honeywell for example moving to Charlotte. If word gets out that the Economic Development Authority isn’t taking calls anymore look out below. There is a $200 billion unfunded debt owed to public employee pensions and retiree health care obligations.

    You cannot get blood from a stone, you cannot get billions of dollars from people who have none. That is who will be left in NJ once the big companies leave and take the jobs and taxes with them.

  65. Joe says:

    You mean putting too much power in government to spend the money of other people and making unsustainable promises. Interesting how you don’t put any of the blame on corrupted polititions for spending beyond their means.

  66. Yo! says:

    Bonus week at work. Most people up a little despite firm revenues down 5%.

    Two forty something guys got whacked. Positions filled with 2 promotions both thirty somethings. Mostly deserved. Older dudes were coasting.

    None of the Millenials talking about buy condos even they can afford decent ones in Hoboken or JC.

  67. 3b says:

    Juice: I agree NJ is in dire straights. It’s amazing to me some simply refuse to that.

  68. The Great Pumpkin says:

    Oh I do, but I am focused on the source of the problem. The source of the problem is the corporation that bought and paid for the politicians. The corporations own our govt, and if you can’t see that, you are blind. Different corporations buy their politicians and fight through these politicans on a daily basis. That’s what has become of our govt.

    Joe says:
    January 16, 2019 at 1:11 pm
    You mean putting too much power in government to spend the money of other people and making unsustainable promises. Interesting how you don’t put any of the blame on corrupted polititions for spending beyond their means.

  69. Blue Ribbon Teacher says:

    You do realize the only way they can give these corporations massive tax breaks is by overtaxing in the first place?

  70. The Great Pumpkin says:

    Blue,

    Realize that some corporations are overtaxed while others pay almost nothing…..now figure out why. Look at my previous post for why.

    Btw, I want low taxes, but just how do we do it? How?

  71. The Great Pumpkin says:

    Blue,

    Why does this happen? Facts are facts.

    “EXECUTIVE SUMMARY

    Profitable corporations are subject to a 35 percent federal income tax rate on their U.S. profits. But many corporations pay far less, or nothing at all, because of the many tax loopholes and special breaks they enjoy. This report documents just how successful many Fortune 500 corporations have been at using loopholes and special breaks over the past eight years. As lawmakers look to reform the corporate tax code, this report shows that the focus of any overhaul should be on closing loopholes rather than on cutting tax rates.”

    https://itep.org/the-35-percent-corporate-tax-myth/

  72. The Great Pumpkin says:

    Love this one from that report. Paying higher rates to other countries….

    “Of those corporations in our sample with significant offshore profits, more than half paid higher corporate tax rates to foreign governments where they operate than they paid in the United States on their U.S. profits.”

  73. The Great Pumpkin says:

    How do they pull this off? Can I do this? Is this fair to all businesses? This is screaming that we “pick and choose” winners, just need to own powerful politicians.

    “One hundred of the 258 companies (39 percent of them) paid zero or less in federal income taxes in at least one year from 2008 to 2015.”

    “The tax breaks claimed by these companies are highly concentrated in the hands of a few very large corporations. Just 25 companies claimed $286 billion in tax breaks over the eight years between 2008 and 2015. That’s more than half the $527 billion in tax subsidies claimed by all of the 258 companies in our sample.”

    “Five companies — AT&T, Wells Fargo, J.P. Morgan Chase, Verizon, and IBM — enjoyed more than $130 billion in tax breaks during the eight-year period.”

  74. Joe says:

    “The corporations own our govt, and if you can’t see that, you are blind”

    Let’s assume you run for office and get elected.

    You get bribed by a corporation and take it doing what they ask.

    Are you going to claim no fault or responsibility for your corrupted actions and blame the corporation instead for taking their bribe?

  75. The Great Pumpkin says:

    527 billion in tax subsidies…..this couldn’t have went to the pension shortfalls? Instead, we gave them a big tax break. Doesn’t make much sense to me.

  76. D-FENS says:

    State income tax is constitutionally required to go to directly to the “property tax relief fund”. It’s down 35.2 percent (-$640 million) December 2018 vs December 2017. I don’t think anyone realizes how bad this is for NJ Real Estate.

    https://www.gardenstateinitiative.org/updates/2019/1/15/gsi-analysis-the-state-of-our-state-economy-lagging

    No wonder Murphy didn’t talk about property tax relief. There is no relief in sight.

  77. The Great Pumpkin says:

    D,

    Let it all burn. I’m serious. Let’s see what rises from the ashes.

    Even if you just cut off the pensions right now, the state will still somehow find itself in debt because big players own the govt and milk it dry. For example, the minute you eliminate all pensions, you just destroyed wall st and the economy. So what the hell is the answer?

    Just look at the national debt. Doesn’t matter what state you go to, you will be dealing with debt. Even if you run to Florida, don’t think for one second that they won’t bail out nj at your expense. Don’t lie to yourself, you know the truth.

    Even if you go to Costa Rica, you will feel the pain of an American default. There is no escape.

  78. Blue Ribbon Teacher says:

    It’s pretty simple. Cut spending.

  79. The Great Pumpkin says:

    I’m at fault for taking the bribe. What you miss, this is human nature. If you dangle enough bills in front of someone, they might kill their own friend for it. You keep blaming the puppets, instead of the puppet master.

    Joe says:
    January 16, 2019 at 1:57 pm
    “The corporations own our govt, and if you can’t see that, you are blind”

    Let’s assume you run for office and get elected.

    You get bribed by a corporation and take it doing what they ask.

    Are you going to claim no fault or responsibility for your corrupted actions and blame the corporation instead for taking their bribe?

  80. The Great Pumpkin says:

    How? All spending is attached to puppet masters. How do you cut them off?

    Blue Ribbon Teacher says:
    January 16, 2019 at 3:26 pm
    It’s pretty simple. Cut spending.

  81. The Great Pumpkin says:

    Blue,

    Why didn’t trump just cut everything and drain the swamp? Does he finally realize what he is up against? He doesn’t talk about draining the swamp anymore, just talks about the wall…….writing is on the wall for those who wish to see.

  82. Joe says:

    “I’m at fault for taking the bribe. What you miss, this is human nature. If you dangle enough bills in front of someone, they might kill their own friend for it. You keep blaming the puppets, instead of the puppet master.”

    So what you are saying is you think there is no solution?

    I do agree the that there is an implosion coming and the NJ economy is going to crash and burn.

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

    “It’s pretty simple. Cut spending.”

    Exactamundo! As I always say.

  84. Blue Ribbon Teacher says:

    Right….you think the sitting president has the authority to stop all spending? Government is a cancer that can’t be stopped. That’s why we’ve been telling you for 5 years straight that you don’t give them even more power.

  85. joyce says:

    “I think it costs 17 cents a mile to brine the road, so if we become the brining state of America I will not be upset about that,” [Gov Phil Murphy] said.

    https://www.nj.com/politics/2019/01/murphy-tells-people-criticizing-him-for-being-over-prepared-for-snowstorms-to-take-a-hike.html

    Let’s all guess if his estimate is higher or lower than the actual cost!?!

  86. The Great Pumpkin says:

    Nope, it’s impossible to stop corruption, only hope is to contain it.

    Why do you think every single society/civilization has fallen in human history. You think the ideology of current republicans and democrats are to blame? What happen to the Roman Empire and why did this happen? Human nature.

    How did the Great Chinese dynasties come to an end? How did the samurai come to an end? Every single one of them succumbed to human nature in one way or another.

    Joe says:
    January 16, 2019 at 3:37 pm
    “I’m at fault for taking the bribe. What you miss, this is human nature. If you dangle enough bills in front of someone, they might kill their own friend for it. You keep blaming the puppets, instead of the puppet master.”

    So what you are saying is you think there is no solution?

  87. The Great Pumpkin says:

    All I’m saying is why didn’t Trump drain the swamp and cut spending? Why has no republican cut spending like they say they will? Why is trump not even talking about draining the swamp?

    Just try and cut spending, and watch the puppet masters send the wolves. That spending is a source of power. Try turning it off, I dare you.

    Blue Ribbon Teacher says:
    January 16, 2019 at 5:21 pm
    Right….you think the sitting president has the authority to stop all spending? Government is a cancer that can’t be stopped. That’s why we’ve been telling you for 5 years straight that you don’t give them even more power.

  88. The Great Pumpkin says:

    “US corporations and the 1% evade taxes via secret foreign accounts plus buy huge tax cut in 2017. One result: too little money for quality public education. LA teachers fight back, strike for decent teacher pay and quality schools nation needs.”

    https://www.reuters.com/article/us-usa-education-los-angeles/los-angeles-teachers-strike-claiming-existential-battle-over-schools-idUSKCN1P80V0

  89. The Great Pumpkin says:

    Taking our money that we desperately need to pay down debt and giving it away to the owners of solar companies. Wonder how much China made off this?

  90. Juice Box says:

    Lol – my wife just got a grand jury summons, 1 day a week for 18 weeks if picked. Our kids spring break starts Friday April 19th and kids return to school on April 29th, a nice long break and I was planning a trip to Hawaii too. Should I still go is the question for the peanut gallery here?

  91. ExEssex says:

    5:21 Holy anarchy Batman

  92. The Great Pumpkin says:

    Respect. If more companies behaved like this, we could lower taxes. Every business in the nyc metro area should bypass govt and fund the gateway on their own. You get more bang for your buck by not paying through taxes/govt controlled project and you get Uncle Sam the hell out of the way.

    “For years, tech companies have been under fire for causing housing prices to soar in certain areas. Now, Microsoft Corp. is doing something about it.
    The Redmond, Wash.,-based tech giant has pledged $500 million to create affordable housing and address homelessness in the Seattle area, the Seattle Times first reported Wednesday night. It’s the largest financial pledge in Microsoft’s history, the Times said, and among the biggest housing contributions ever by a private company.”

    https://apple.news/ANtDW4WB5TYGCPYKYGKcSHQ

  93. JesusRog says:

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  94. Blue Ribbon Teacher says:

    17 cents a mile? I’m not even buying that figure on the salt alone.

    Labor, gas, and salt damage to the bottom of everyone’s car? This is in the tens of millions.

  95. D-FENS says:

    Josh Gottheimer (D) NJ – 5 Met with Trump yesterday to find common ground. One of the few Democrats left with a level head.

    They psychos and extremists always get the headlines.

  96. No One says:

    Juice,
    I’m not a lawyer, but I should think it would be easy to get rejected from the pool. Have her research “jury nullification” and how she could not uphold a law that violates her own standards. It’s not difficult to get rejected from a jury if you’re motivated and speak up.
    Then the big question is whether they would put her back in the pool and keep calling her back after being thrown out the first time.
    I haven’t done it but I’ve heard of some people who did this successfully.

  97. The Great Pumpkin says:

    Sorry I got so negative yesterday, just really boils my blood how the man has us by the balls.

  98. The Great Pumpkin says:

    Yup….

    “If something clearly ‘works,’ you can’t really be surprised [companies] take advantage of it,” said Daniel Shaviro, a tax scholar at New York University School of Law. “It’s a bad rule, and a bad system. I don’t think the people doing this should be proud of themselves.”

    I’m a dumb@ss says:
    January 17, 2019 at 9:07 am
    How Microsoft moves profits offshore to cut its tax bill
    https://www.seattletimes.com/business/microsoft/how-microsoft-parks-profits-offshore-to-pare-its-tax-bill/

  99. Bystander says:

    Yep, Trump being the primary psycho and extremist. 4 Americans killed by ISIS. Thought we defeated them?

  100. The Great Pumpkin says:

    Juice,

    Did you receive it by certified mail? Well for this one time, play the “I didn’t receive it” card.

  101. The Great Pumpkin says:

    What a mess…..you take this away from these people, and how will they live? What a mess.

    “The soaring costs have fueled outrage in some camps, sparking a belief shared regularly in letters to the editor and conservative magazines that pensioners are living richly on the backs of taxpayers who themselves can barely afford a secure retirement, if any.

    But there are a few misconceptions floating around this debate.

    First, most retired public servants aren’t living that comfortably on their pension income alone. Sure, there are a few eye-popping payouts, like the $76,111 monthly check collected by an eye surgeon in Oregon, that the New York Times recently wrote about. But the National Institute on Retirement Security analyzed Census data and found that the average state and local pension benefit was $27,415 a year in 2016. Annual payouts ranged widely by state, from $16,441 in West Virginia to $37,934 in Connecticut.

    Often, that’s the only income they have coming in during retirement — most state and local employees are not eligible for Social Security.”

    https://money.cnn.com/interactive/economy/pension-crisis-retired-workers/index.html

  102. The Great Pumpkin says:

    Exactly what I said yesterday…. you can run, but you can’t hide. This will impact everyone.

    “Nobody Will Escape The Coming Pension Storm — It Will Be Every Man For Himself

    The coming pension and unfunded government liabilities storm is so big that many of us simply can’t get out of the way, at least not without great difficulty. This holds true not just for the U.S. but for almost all of the developed world.”

    https://www.forbes.com/sites/johnmauldin/2017/09/26/nobody-will-escape-the-coming-pension-storm-it-will-be-every-man-for-himself/#42a2a640438f

  103. chicagofinance says:

    Dedicated to FAST EDDIE….. with its own LGBTQ compliant rooftop lounge….
    https://theashfordjc.com/the-parlor/

  104. The Original NJ ExPat says:

    Something tells me that there are a whole hell of a lot of poor people waking up to maybe think, “Government shutdown? What are these people being paid for? I don’t see no difference.”

  105. Yo! says:

    https://www.storeno8.com/careers

    Walmart hiring “stealth company” CEO in Hoboken. Will Walmart become Hoboken’s #1 private sector employer?

  106. Fast Eddie says:

    ChiFi,

    Is there a cigar bar in that place?

  107. Fast Eddie says:

    Something tells me that there are a whole hell of a lot of poor people waking up to maybe think, “Government shutdown? What are these people being paid for? I don’t see no difference.”

    Those so-called poor people are not wondering why their elected officials get paid, they’re wondering when THEY will get paid.

  108. Fast Eddie says:

    When will moderate democrats seize control from the radical left and approve funding to protect our borders?

  109. D-FENS says:

    It will be harder for them to kill US soldiers in Syria when they are gone.

    Bystander says:
    January 17, 2019 at 9:47 am
    Yep, Trump being the primary psycho and extremist. 4 Americans killed by ISIS. Thought we defeated them?

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

    To be clear, I have nothing against this. But I really think we may be trying a little too hard.

    http://www.montclairlibrary.org/news-events/harmonicasunbeam/

  111. GdBlsU45 says:

    Every time we make a gesture toward leaving Syria there is suddenly an attack. The groups with the most to lose by us leaving are the Kurds and anyone who is anti Iran. I would suspect one of them ordaining the attack before I would isis. That makes no sense. And yes it’s scary how jingoistic the left has become. They have welcomed the neocons back in the fold so you are starting to see the result of that.

  112. 1987 Condo says:

    Classic!

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

    Drove past Xanadon’t this morning. Holy crap. Make them stop!

    https://bit.ly/2QWXatY

  114. chicagofinance says:

    so fcuking hilarious
    Libturd…look me up in Costa Rica says:
    January 17, 2019 at 2:17 pm
    To be clear, I have nothing against this. But I really think we may be trying a little too hard.

    http://www.montclairlibrary.org/news-events/harmonicasunbeam/

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

    Murphy solved another issue that was not really a big issue to the vast majority of NJ residents. $15 minimum wage approved. Meanwhile, the trains are suckier than ever and the pension hole grows. No state bank and legal marijuana is far from happening! On the bright side, you won’t be reported to the feds if you are from Mexico and get a speeding ticket.

  116. The Great Pumpkin says:

    We have car manufacturers held to very high safety standards for their vehicles and the speeds they travel at, but then we have speed limits? This is how I know speeding tickets are nothing more than a sham hiding behind the veil of “safety“ to make money off unlucky motorists. If you really cared about “safety,” you wouldn’t be allowed to sell cars that can (SAFELY) drive over the speed limit.

  117. The Great Pumpkin says:

    Clowns

    “When you see this kind of positive action, you need to recognize what’s driving it. In the fourth quarter, stocks got way too cheap, and that overreaction to the downside has created incredible values that give investors a sense of certainty — they know they won’t be blown out if they buy something because there’s only so much much downside from these levels,” he explained. “When you have that sense of certainty, it’s very easy to pull the trigger and buy, which is why 2019 is turning out to be a much better year than many investors expected.”

    https://apple.news/A_W78DRiHRVWyywbQRhBzow

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