From the Star Ledger:
N.J. income taxes rolling in like never before. Now Dems will fight over what to do with all that extra cash.
New Jersey’s income tax collections came roaring back in April, surprising state leaders and cracking open a debate over how the state should spend its extra cash.
The mid-year recovery led Gov. Phil Murphy’s administration to announce Tuesday it is boosting its revenue forecast for the state budget year that ends June 30 by $377 million and plans to deposit all but $60 million of that money into a depleted “rainy day” fund to cushion the blow of a future downturn.
But the state Legislature may have other plans.
Democratic state Senate Budget Chairman Paul Sarlo, D-Bergen, and Sen. Declan O’Scanlon, R-Monmouth, signaled interest Tuesday in rerouting the $317 million destined for the rainy day fund to next year’s state budget, where it can replace some of the revenue Murphy’s administration wants to collect from a tax increase on millionaires.
The surprise cash alters — but doesn’t resolve — the clash between the governor, who wants to put it in savings, and legislative leaders, who are looking for alternatives to Murphy’s push for a millionaires tax.
Sarlo said Tuesday the two-year revenue updates from the state Department of Treasury bolster legislative leaders’ position.
“The pressure to do a millionaires tax is gone,” Sarlo said after a Senate budget committee hearing. “The pressure of balancing the budget, that pressure is off. We don’t need that any longer to balance the budget.”
…
The state collected $3.6 billion in income taxes in April, confirming the Treasury Department’s suspicions the slowdown in the tax’s revenue was caused by high earners responding to the new $10,000 cap on state and local tax deductions by delaying their estimated tax payments until closer to the April filing deadline.
…
“While we correctly anticipated the taxpayer behavior that played out, we not only met our robust April tax collection targets, but we encountered somewhat of a surprise when Gross Income Tax collections set a new April record,” Muoio said.
…
“With the current surge in the (Gross Income Tax) outlook, the governor is proposing to take advantage of this good fortune by returning $250 million of this revenue directly back to the taxpayers in the form of property tax relief in FY20,” Muoio said.
“But without the half a billion dollars generated by the true millionaires tax, the (Gross Income Tax) revenue boost will be eliminated, and funding for increased property tax relief and other priorities will be nearly impossible.”
Treasurer Muoio Announces State Revenue Projections are up for FY19 & FY20, Allowing for $250 Million in Property Tax Relief to Roughly a Million Residents
As you probably remember, Gross Income Tax (GIT) collections for December fell 35 percent below the prior December and January collections fell by 4.8 percent. This two-month dip was also seen in many other states, and produced concerns that the economy, or the stock market, or other long-term factors, were producing a serious revenue shortfall.
However, we urged caution about jumping to negative conclusions and projecting shortfalls before a clear picture of April revenue collections emerged. We knew certain temporary factors were masking what should otherwise have been increasing GIT revenue from solid economic, wage, and income growth.
We also had compelling reasons to believe that the two-month dip in GIT collections was largely attributable to a significant shift in historical tax planning behavior as a result of the cap on the SALT (State and Local Tax) deduction that was enacted as part of the federal tax law changes. For decades, taxpayers had an incentive to prepay state income taxes in December for federal tax planning purposes. With the unlimited deduction now gone, the incentive to prepay evaporated and most taxpayers waited until April to complete their tax payments. As a result, April’s final 1040 payments soared by 81.7 percent.
Last month when I spoke with you, we discussed the nuances between anticipating strong revenue growth in April AND being surprised by strong revenue growth in April. I am happy to tell you that both perspectives have been validated. While we correctly anticipated the taxpayer behavior that played out, we not only met our robust April tax collection targets, but we encountered somewhat of a surprise when Gross Income Tax Collections set a new April record, slightly increasing our revenue forecast for FY19.
All told, Gross Income Tax receipts for April totaled $3.627 billion. These collections top the previous record of $3.14 billion that was recorded in April of 2008. Moreover, GIT funds, which are constitutionally dedicated to the Property Tax Relief Fund, are up 56.8 percent compared to last April. Withholding collections are also up 9.9 percent and estimated tax payments are up 10.4 percent. In total, year-to-date GIT collections of $13.075 billion are up 7.7 percent, or $930 million.
While all of the winter GIT revenue shortfall has been reversed, April also pulled forward some final 1040 payments that lagged into May last year due in part to a delayed April 17 filing date last year. Accordingly, we expect to see a reduction this month in total net GIT collections compared to last May. However, both the large April rebound and the smaller May reduction have been factored into the updated FY19 forecast I am providing today.
Taking these factors into account, we are now projecting 5.8 percent growth in GIT revenues over last year, for a total of $15.912 billion in FY19, $349 million above our prior forecast. As part of this improved revenue forecast, we are also increasing our estimate for revenue from the new 10.75 percent marginal tax rate on income above $5 million from $275 million to $350 million.
Thank U president Trump
How funny is it that I was writing posts this morning trying to get you to understand that nj isn’t dying and bam, the stats come out to prove it. Can’t wiggle your way out of this one and act like I didn’t call this….I was calling it right here on this blog this morning.
The other day someone said what industry do I work in to come to this conclusion….that I’m making it up. A$$hole, clearly you work in the wrong industry, not me. I’m able to see the positives and strengths of jersey unlike you.
I’d watch who you call names. I actually do know what industry you work in and your place of employment. That’s what makes your comment 100% even more funny.
Murphy is going to show his appreciation for this Trump windfall by filing another dozen lawsuits against FedGov, and wasting the money (our money) on another one of his protected peoples project.
Agreed
Bruiser says:
May 14, 2019 at 11:45 am
Anyone else get a chuckle out of McKinsey consultants lamenting the lack of “middle skill” workers to fill the multitude of middle skill jobs in NJ? Those azzhol3s recommend taking a chainsaw to any onshore department not directly involved in sales, then wonder where all the workers went? GTFO
That tax windfall is like a fart in the wind. Meanwhile, the massive pension liabilities like an interstellar black hole is ever growing and threating to consume all at over 200 Billion and expanding.
We had McKinsey in here recently, along with a host of other management consultants credentialed and otherwise pitching their witchcraft of old and new profit improvement principals and programs. However the word “improvement” in an operation means different things to different people.
A chainsaw to the labor force was one recommendation. “Operational Excellence” was dusted off and trotted out as a program. I went thru that many times during my days in Telecom. We did cut down a few stands of old dead wood but not the whole petrified forest, so now with some additional changes in management and a few new C-suite execs we may just end up poisoning the soil.
That will surely fix things…
Is McKinsey still trotting out the budget waterfall graphs or is that so 2009? Nothing like having a 25 year old Harvard business grad trying to optimize your pm plan.
Ahh, who cares about McKinsey, it was about the ideas, which of course were totally ignored because it didn’t appeal to a conservative bias. If they would have said slash govt jobs, get rid of workers pensions, lower taxes, get rid of regulation, and nj is dead (because it’s a blue state) they would have been loved by this group. Oh wait, that was Christie’s exact playbook. That worked out well.
According to an article I read on the millionaire tax, about 18,000 NJ residents earn over 1 million of income annually.
If I was required to Murphy’s dream millionaire tax last year, it would have cost me about an extra $30k. Beyond the roughly quarter million I already paid the state, which was apparently not “a fair share”. $30k per year can cover a lot of relocation costs.
Murphy’s “multimillionaire tax” already passed for 2019 taking income tax on income over $5m up to 10.75% will probably cost some of my firm’s top earners more than half a million additional. They all already have homes in lower tax states – so it’s just a matter of turning them into primary residences, which at least avoids the state income tax on their capital gains.
Any firm with smart management and high-income talent has to be looking for ways out of NJ.
Come on, juice, you are better than this. It’s about the growth, which is the only way out of this mess….to grow the economy. You act like 11% growth is nothing? In the face of salt, we get 11% growth and you write it off as nothing. Come on, man!
This is huge, how can people ignore this. Just look around NJ, every place that was sh!thole is transforming before our eyes. Newark is not even recognizable anymore to someone that has not been there in 15 years. Hell, most of NJ is not even recognizable to someone that has not been here in 15 years.
Look at this huge investment by the state and private sector in paterson. You can’t tell me nj is dying.
https://www.northjersey.com/story/news/paterson-press/2019/05/09/paterson-nj-city-center-mall-owner-seeks-arena-hotel-support/1141219001/
Juice Box says:
May 15, 2019 at 9:04 am
That tax windfall is like a fart in the wind. Meanwhile, the massive pension liabilities like an interstellar black hole is ever growing and threating to consume all at over 200 Billion and expanding.
Atlantic City hit bottom. Camden hit bottom. All these places are much better than they used to be. South jersey real estate gains say so.
No One,
Are you getting the opportunity to make money? So please be quiet with your crying about paying taxes on it. This country and state provide the ability to make over 1 million income and then he cries about giving back. Look at the big picture. You can’t keep it all dude, society would collapse. Who the hell is going to pay for the investments in society if you can’t? The guy making 30 k a year?
Just be open minded and understand your tax dollars are an investment that you will get a return on in the long term through higher compensation. It’s not rocket science.
Let them leave, another man’s loss is another man’s gain. Someone will take their place in the state economy. If you don’t think so, you are naive.
“Murphy’s “multimillionaire tax” already passed for 2019 taking income tax on income over $5m up to 10.75% will probably cost some of my firm’s top earners more than half a million additional. They all already have homes in lower tax states – so it’s just a matter of turning them into primary residences, which at least avoids the state income tax on their capital gains”
Gentleman,
This is Pumpkinnutter before he discovered this board.
https://youtu.be/Pq1gryP7DxM
The excess tax revenues should be returned to the tax payers. The most dangerous thing for the government is excessive tax revenue over budget for they tend to spend the excess on new operating costs which can not be supported when the excess does not come in the following year. Then they raise taxes to cover the supposed shortfall.
A rainy day fund is a complete joke when you have 200 billion in unfunded liabilities.
Oh, come on! Friggin Paterson wants a 12,000 seat arena now? Paterson?!?!? For what? What franchise – major or minor – is looking for a home in Paterson, NJ? Stop it! There is an arena in Trenton that is almost completely unused. There is a 19,000 seat arena in the Meadowlands also almost completely unused. NJ funded the construction of ballparks in Camden & Newark, both now unoccupied. Meanwhile, look at the pitiful facilities our State University teams play in…The RAC was built in the 70’s and looks every bit its age. Baseball stadium no better than most high schools. But Paterson’s dreams of an NBA G-League II team moving in and spurring a rebirth of the city is worthy of our tax dollars.
Again, GTFO
Punkin,
I could do what I do just about anywhere there is internet, phone service, and an airport. The state of NJ adds no more value to my work than just about any other state.
The company was set up in NJ in the late 80s, when NJ was not a basket case.
NJ now counts on people’s and companies’ inertia, charging more while providing less value.
Here’s a brief history of NJ’s decline through 2009.
https://ppe.mercatus.org/system/files/WP0930_Can-New-Jersey-Reverse-Course.pdf
There is a huge minority population of soccer fans located in the Paterson area. Passaic alone has how many Mexicans that live and die for the sport?
You miss the point. It’s about private money wanting to invest in Paterson. It’s not easy to change a city, but this is huge for Paterson. Even if it fails, that investment in that city will have a domino effect. That’s a lot of money.
Man, too early in the morning for Blumpy to be at ‘coked-up asshat’ level already.
Not trying to be mean, just brutally honest. Why are you here if you don’t care about the state and have no desire to help it. Get your firm to leave this state. The faster people like you leave, the better off we will be. It helps to have people that make big money and understand their role in giving back to society so it can invest further. We need those people, like Phil Murphy, who is a millionaire and will be taxing himself with the laws he creates. He understands and he cares about the future of jersey.
It’s amazing that you complain about taxes, but ignore the fact that it has allowed you to make an income of over 1 million a year. Man, you have it so bad, NJ treating you horribly. I feel so bad for you, nj should cut you a break.
No One says:
May 15, 2019 at 10:38 am
Punkin,
I could do what I do just about anywhere there is internet, phone service, and an airport. The state of NJ adds no more value to my work than just about any other state.
It’s 2019 now, the story has changed from decline to growth. Do you think each state economy just grows infinitely? You have adjustment periods which NJ already went through and is coming out of. This is the part you guys completely miss, nj has been reinventing itself right before your eyes. Just take a plane out of newark, look down and see the ton of industry at work. It’s mindblowing.
“Here’s a brief history of NJ’s decline through 2009.”
No One was partially educated in Florida. Florida!! The horror.
The Great Pumpkin says:
May 15, 2019 at 10:44 am
Citizens aren’t “allowed” to make money by their state, as if the state is sovereign and we are its vassals.
Whatever is good about NJ comes from its productive citizens, rather than the costly and inefficient mechanisms of government that have become an engorged leech on their backs. But go ahead and give it a smooch Punkin. NJ has surely elevated you above your potential.
And enjoy your theme song from Devo:
https://www.youtube.com/watch?v=GZDl_R8Zp2E
“NJ funded the construction of ballparks in Camden & Newark, both now unoccupied.”
Both slated to be demolished in the next year.
If the owners want it, no concessions from the taxpayers. Heck, they built the new Giant’s Stadium before they even finished paying off the bonds for the old one. How much has the Prudential Center helped Newark? Most of the restaurants and bars that propped up around the arena have already closed. Remember Uber-burger?
Enough with these pet projects of the ultra wealthy funded with tax payer dollars. If the former owner of Blockbuster wants a stadium so he can make believe he knows something about basketball (I see it more as the modern version of slavery). He can pay for it himself.
A renovated Hinchliffe Stadium, and a brand-new indoor Paterson Center City Mall Arena will each host profitable independent international club-level soccer worthy of hundreds of millions of dollars of public money. You can’t make this sheet up.
Amazing that, at 40, Blumpkin has not achieved that high level job but make $1m a year yet as projects himself as one of these great NJ folk doing well. He is a schnook. He is the proverbial ‘blind squirrel finding a nut’ – gift equity from Granny, high earning alpha female spouse and the ‘down on the see saw’, single child. His great “NJ” life could be had many places in this country.
How many Latinos are there in the Ironbound, Kearny, Harrison etc. Red Bull Arena is putting tarps nearly over the entire upper deck. This stadium has been open since 2010. I’ve been a season ticket holder of the Red Bulls since 2005. The team has won 3 Shields (bet team regular season) over these last nine years so you can’t say it’s their performance. Still, no one goes to the games.
Harrison grew despite the Red Bull Arena. Not due to it.
The village idiot continues to show his complete lack of intelligence.
Oh, you mean the cabal that is reflexively used to construct organizations from coast to coas,t and border to border. Moron…….. and it’s true…it is a bunch of 25 yo HBS grads in the ivory tower. Scary that their influence is so pervasive.
The Great Pumpkin says:
May 15, 2019 at 9:53 am
Ahh, who cares about McKinsey,
My best friends in Florida (I would live there for a month or more during my childhood summers)… a family of 3 boys.
One became a dentist, but the kid was a genius. He is now supporting one of his brothers and his other brother moved to Wisconsin to find a job. The dentist is a year older than me and the two younger brothers are in their mid 30’s.
Dentist lived in Hoboken when he was in dental school. Was going to live here, but his childhood sweetheart would not leave her family in St. Augustine where he currently resides.
I know first hand about Florida, so save me the bs. If it’s so great, why are you in a state that you feel is holding you back? Go to low tax Florida and live it up! Better yet, join all the nj people moving to Charlotte. The place has more NJ people than locals from Carolina now. Go live there and tell yourself how much better life is than NJ. You will be much happier. Add a couple of years to your life with the happiness you will have living there knowing you are paying fewer taxes than NJ. It’s a dream come true for you.
Blumpkin, take your single salary, add a kid then have your wife stay at home to raise them..or take care of sick child. How’s this great NJ lifestyle looking? Many people are in this boat.
I just got my NY tax refund. $90. Party time!
Clueless, chi. I can only assume that his father in law gave him a job. There is no way you could avoid management consulting, rightsizing, outsourcing, off shoring, near shoring, H1B and all other invasive factors of trying to stay employed in this area
If you are interested in learning more about McKinsey, this is a really good read.
Here is a quote from the article. “Any solution that requires redistribution of any wealth or power from the ruling class (the only class who can afford to hire McKinsey) is not even worth considering.”
https://www.currentaffairs.org/2019/02/mckinsey-company-capitals-willing-executioners
Holy sh!t….. I just used the word “cabal” for the fcuk of it….. wrote that off the top of my head…..
Juice Box says:
May 15, 2019 at 11:48 am
If you are interested in learning more about McKinsey, this is a really good read.
Here is a quote from the article. “Any solution that requires redistribution of any wealth or power from the ruling class (the only class who can afford to hire McKinsey) is not even worth considering.”
https://www.currentaffairs.org/2019/02/mckinsey-company-capitals-willing-executioners
Juice: that article is over the top….. some millennial douche bag that succumbed to the white guilt/priveledge/embrace his whiteness. So he/she had a Jerry Maguire moment….spare us all….
I didn’t get a dollar from mommy and daddy. How many people had their parents pay for their college? How many kids had mommy and daddy help filling out college applications? How many had help with their down payments from their parents for their first house purchase? And you are here busting my balls for doing something with my life.
How much did you get from your parents? I paid my own way through college and had zero debt from college. Something I’m proud of.
Do you think a beautiful alpha female would be attracted to a loser? I’m going to be married 10 years in July. Oh, yea, my wife and I paid for our wedding ourselves(not a cheap wedding…over 200 people). Don’t paint this picture that I was gifted my current life.
Bystander says:
May 15, 2019 at 11:26 am
Amazing that, at 40, Blumpkin has not achieved that high level job but make $1m a year yet as projects himself as one of these great NJ folk doing well. He is a schnook. He is the proverbial ‘blind squirrel finding a nut’ – gift equity from Granny, high earning alpha female spouse and the ‘down on the see saw’, single child. His great “NJ” life could be had many places in this country.
I’m a firm believer in luck/fortune. I know I’m fortunate that I’m not experiencing what you describe below. My wife and I are debating having another kid, but it’s a real tough decision. If we choose to have another one, we are risking it all. That child could end up being a heavy burden that we are not ready to take on. We think about the consequences of our decisions before we do something. That’s probably how we got to where we are.
Bystander says:
May 15, 2019 at 11:36 am
Blumpkin, take your single salary, add a kid then have your wife stay at home to raise them..or take care of sick child. How’s this great NJ lifestyle looking? Many people are in this boat.
The gem of that article Juice shared. Bingo!
“Beyond the literal privatization of public assets, the steady creep of corporate approaches to governing amounts to privatization in all but name. Government cannot and should not be run like a business, as even the Harvard Business Review admits.”
“Don’t paint this picture that I was gifted my current life.”
No, you got gifted your current wife. She is probably cold, abusive type A which makes sense since you keep coming back here for more of it everyday..
..and raise your hand here who got gift equity on a house? Me? My Dad stayed out of the klink and paid probably 16k. I did cheap in state school at time. Much less than Granny’s gift. No wedding or house help, chump.
Keep holding yourself higher on the economic ladder. I’ll admit your higher than me because my caring wife wants to be at home and I will do whatever to make that happen until my boys are in school and more independent. I don’t care about fancy German cars or vacations 3 times a year, unlike like you.
“That child could end up being a heavy burden”
Attention all losers. Messed up daughter available in 12 years. Lives in highway house in Wayne. Parents valued vintage steam vent covers and German engineering over family…geez
I totally agree Chifi. I make fun of consultants at times, but this anonymous author is just too clueless, and even self-contradicting. Sounds like a beta leftist cuck educated into know it all imbecility by progressive education and an ivy league degree. Now feels guilty for haven taken a high-paying job to pay off his school debt. A management consulting firm is hired by management, to do work within the parameters set by that client. You don’t get to tell them “you should shut down to make the world I dream of possible” or “you should pay all your employees 50% more than they are worth to elevate the working class” or “your citizens should have a revolution and behead the king”. If the author was so smart he/she would have known that before buying into the recruiting happy talk. Sounds like a peon who imagined that he was going to be hired by Venezuela to advise them how to build state-run solar farms or something? Somehow he/she blames the failure of the government taking over more of health care on McKinsey and capitalism? The author really thinks that 100% full time government employees is the best solution for everything? He must really hate Space X too. One of these guys:
http://southpark.cc.com/clips/154822/college-know-it-all-hippies
It’s hypocritical idiots like this who probably make McKinsey worse than it should be. They don’t even believe in their own job and so probably offer crappy cookie cutter recommendations, because they don’t really understand what they are offering advice on, or are just deadweight on their team moaning and groaning about other people ignoring their crappy ideas.
“Juice: that article is over the top….. some millennial douche bag that succumbed to the white guilt/priveledge/embrace his whiteness. So he/she had a Jerry Maguire moment….spare us all….”
I’m not going to criticize anyone for not having a kid if they’re not sure they can handle it. Much better than the “if in doubt, breed” crowd, who figure “society” and/or the lord will provide.
If Punkin is into hard work and personal responsibility, and making sure his family is provided for, then that’s a positive attribute that I hope he builds on.
Management consultants are the worst, total empty suits, the fact that people put so much stock in 25 year old harvard grads who have never really done anything is astounding. McKinsey and it’s ilk have no place in a effective business, anyone employing those overpriced empty suits is panicking.
No one,
Hah, stop ruining our fun. We can all agree that it is better if Blumpy does not procreate any further.
Me so lucky. Me buy cheap house made of tiger wood to fashion custom ping pong paddle that alpha wife use on bottom.
🤣🤣….you are a funny guy, I’ll give you that.
Libturd, can’t say I didn’t warn you. says:
May 15, 2019 at 4:16 pm
Me so lucky. Me buy cheap house made of tiger wood to fashion custom ping pong paddle that alpha wife use on bottom.
Sneakin to the USA
https://www.youtube.com/watch?v=pTMwsHhhWNg
I have an absolutely “perfect” little girl right now. What are the odds of going two for two? Prob not good, which is why it’s a difficult choice. Every choice has a consequence, and this happens to be a huge one and the odds are not in my favor. What happens if I make this choice and end up with an autistic child or mentally challenged? My wife and I are not in the position to take care of that. We are screwed. I will have to move and go live in a low cost area wherever that is. Now this screws up my daughters life, and that’s a tough pill to swallow. So the decision is not easy.
I know it doesn’t seem possible, but we are not too different. You prob would enjoy my company had I never posted on this blog. I just feel like it’s my job on this blog to offer the other side of the argument on issues like nj’s economy, taxation, national economy, housing, and labor market. I come off as a prick because I constantly feel like I’m being attacked and react accordingly. Shouldn’t do that, but that’s something I have to work on. At the end of the day, we believe in hard work, sacrifice, and doing it morally correct. We are not that different.
“If Punkin is into hard work and personal responsibility, and making sure his family is provided for, then that’s a positive attribute that I hope he builds on.”
“What happens if I make this choice and end up with an autistic child or mentally challenged?”
Sorry, my reading comprehension sucks..this reads like what if you end up mentally challenged.
On the plus side, Blumpy..a whole world of support forums and blogs would be available for you to ruin.
From my reading of this tax windfall there are some corporate/business one off payments here that will not be seen next year.
Oooooh cringes. Pumpkin if there is any doubt re: your seed.
Do the world a favor and stick with “ blouses “…,
“Blowies”…… (not blouses)… blowies
🤣🤣
Evidence of why you should always proof read.
Bystander says:
May 15, 2019 at 5:22 pm
“What happens if I make this choice and end up with an autistic child or mentally challenged?”
Sorry, my reading comprehension sucks..this reads like what if you end up mentally challenged.
Libtard,
Lmao!!
Sweeney is such a clown. Trying his hardest to keep new revenue streams from hitting Murphy’s governorship. He pushed weed back to 2020. He is calling for the people to vote like they won’t say yes. So it’s just a political slimeball move, hurting the state revenue source in the name of a political fight. Get this clown costing each of us money the hell out of here.
Weed didn’t pass because of the expungements issue.
Something about not considering below 75 pounds a distribution offense.
They were just early-to-market entrepreneurs, apparently.
You have to remember that Sweeney is a meathead. The guy has hard on for Murphy for taking his chance at being governor. There’s a dirty fight going on behind the scenes, I’m just hoping it gets resolved soon.
grim says:
May 15, 2019 at 8:11 pm
Weed didn’t pass because of the expungements issue.
Something about not considering below 75 pounds a distribution offense.
They were just early-to-market entrepreneurs, apparently.
Somehow Christie got things done with a Dem Assembly. Murphy is a complete moron.
I’ve seen the many pictures on your sister’s facebook page. Looks pretty pedestrian and blue collar to me and your wedding party looks like you, very uneducated. BTW, you won’t be married 10 years until you make it to July.
Oh, yea, my wife and I paid for our wedding ourselves(not a cheap wedding…over 200 people).
You must be smart enough to realize that it is WHAT the taxes are spent on, right?
If our existing ridiculous tax burden was paying for streets with no potholes, trains that ran on time, fully funded pensions, highways that weren’t perpetual parking lots, etc. and spent/managed well on the every day things important to most people we probably wouldn’t complain.
When it is spent on all the political patronage jobs, is spent to keep a government in power that actively works against the needs of business, wasted on ridiculous pet projects and programs and we still have unfunded pensions, pothole ridden streets, etc. then that is what makes us insane.
You say simply “taxes” like every dollar is spent by a monk who weighs the pros/cons of exactly how to use it wisely. It is flushed down a million toilets. It is spent on needle exchange programs and services for non-citizens, stadiums no one uses, tax breaks for the politically connected, contracts with politically connected companies, etc.
If the level of taxes made New Jersey run like utopia nobody would be complaining because going to Charlotte or wherever would be a step down. It is not.
The Great Pumpkin says:
Just be open minded and understand your tax dollars are an investment that you will get a return on in the long term through higher compensation. It’s not rocket science.