State Senator Diane Allen (R-Burlington) is preparing to introduce legislation which would repeal Realty Transfer Fees and subsequently added “layers” in New Jersey, Save Jerseyans. It’s long overdue.
“When you sell your home in New Jersey, you’re getting whacked by this arbitrary tax, and that’s wrong,” Senator Allen said in an explanatory release. “This initiative will help struggling homeowners, including those who might be facing short sales or foreclosures. It will save property owners across this state a burden of thousands of dollars, which particularly hurts those who have lost equity in their homes due to the economic recession.”
Governor Christie is absolutely on track in his questioning of the Realty Transfer Fee (RTF), Save Jerseyans, and if anything, if he is able to successfully eliminate this insidious tax placed on property owners, then he should also make sure it cannot revert back to its previous status once he leaves office.
When I was running for office, another one of my peeves was the Realty Transfer Fee (RTF), pursued aggressively under Jim McGreevey and continued by Jon Corzine as an additional source of revenue. Click here to play with an RTF calculator if you’re a visual learner.
This form of taxation acts as an insidious hidden tax to homeowners New Jersey…
Hundreds of middle-aged people looking for work at Brookdale this morning. April 4, 2014
New Jersey voters are either greedy jerks or stupid and impressionable buffoons if you buy The Star Ledger Editorial Board’s (Tom Moran’s) reading of the QuinnipiacPoll released on Thursday. The poll reported that New Jerseyans favor wage freezes for state workers, by a 53-42 margin, and oppose an increase in the gasoline tax by a 65-33 percent margin:
New Jersey voters are jerks. The new state motto: “Screw you, not me.”
That is how Moran starts off his rant. He finishes by cutting the poll respondents a break. Maybe we aren’t greedy jerks, maybe we’ve been led to think the way we do:
We’ll cut the folks responding to the Quinnipiac poll a break – they’ve been goaded in this direction. Despite widespread reforms to state workers’ pay and benefits during the past four years, not to mention budget cuts that led to historic layoffs of police, teachers and firefighters, Gov. Chris Christie used his annual budget address to continue to blame state worker compensation for our fiscal aches and pains.
Hmmm. Moran’s frustration is showing. As the editorial page editor of the state’s largest media outlet, Moran should be the most powerful opinion maker in New Jersey. How could his readers be so stupid?!
Insulting your customers (readers) is a interesting strategy to stop the bleeding of a company (media outlet) that is contracting rapidly and recently announced 167 layoffs which followed millions in concessions from the outlet’s unionized workers and a smaller round of layoffs.
New Jersey Democrat Assemblywoman Valerie Huttle is sponsoring a bill that would, on the heels of news of a record tourist season in 2013, ban smoking at all parks and beaches, Save Jerseyans. The controversial measure won the approval of the State Assembly on Thursday and will now head to the State Senate where a vote has not yet been scheduled.
I’m sorry to disappoint those who feel that government should just make the sale of tobacco illegal, but it just isn’t going to happen.
Regardless of the arguments both pro and con, a federal ban on cigarettes would be a practical impossibility considering that tobacco is still a big business (and source of tax revenue).
Hypocrisy is tolerated, but not in large doses administered simultaneously.
I shouldn’t be giving the NJ Democrats free advice, Save Jerseyans, but they would be wise to take it from me.
For the record, I’m not fan of the Governor’s FY 2015 budget tax proposals, one of which includes a tobacco tax on e-cigarettes and expanding the sales tax to include out-of-state online retailers selling goods in New Jersey. It’ll supposedly net the state $205 million by closing loopholes. It won’t inspire a debate among New Jersey voters as to whether Republican or Democrat ideas are better for their bottom line. I can’t see it as anything other than a missed opportunity.
It’s not every day that you hear about a municipality, city or borough passing a municipal budget with a 0% tax increase, Save Jersyans; it’s even more rare to see this happen in the same place two years in a row.
That feat, however, is exactly what the borough of Waldwick, New Jersey has successfully accomplished in 2014 through the leadership of its Mayor and Council.
Yet another independent, nonpartisan research study has proven what Trenton Democrats continue to stubbornly deny, Save Jerseyans: their policies drive taxpayers out of the state.
Regent Atlantic’s findings should provide a shock to the system of every policymaker with half a heart and some semblance of a functioning brain:
An analysis of income tax returns filed in New Jersey shows that taxpayers are changing their domiciles to lower-tax states. In 2010, there were 87,630 federal tax returns filed in states other than New Jersey by people who filed their 2009 tax returns in New Jersey. These 87,630 tax returns accounted for a loss of $5.5 billion in taxable income for New Jersey.
Let the games begin: Governor Chris Christie will propose a budget on Tuesday afternoon with a smaller pension payment than Senate President Steve Sweeney said he’s willing to accept to avoid a government shutdown, Save Jerseyans,
According to pre-released excerpts, the Governor’s FY 2015 budget proposal includes a $2.25 billion payment towards New Jersey’s chronically underfunded pension system, a payment which Christie plans to point out “is nearly the equivalent of the total payments made in the ten years before we arrived by five different governors.”
Senate President Steve “Sandy Hook is Fair Game” Sweeney has been in full grandstanding mode in recent days, ruling out tax cuts completely while his Assembly counterpart pitches new taxes (thanks for nothing, Steve!) and threatening to shutter state government (ironic much?) if Governor Christie refuses to raise the state’s pension contribution from $1.7 billion in the FY 2014 budget to $2.4 billion pursuant to the politicians’ 3-year-old pension overhaul agreement; whether the $150 million difference is a deal-breaker remains to be seen.
New Jersey does have budgetary problems. Those problems are on the spending side of the ledger, not the revenue side. Speaker Prieto quickly offers up the fact that New Jersey boasts the 3rd lowest gas tax in the country. Okay? He’s right. What he fails to mention is how we’re also one of the worst – or the absolute worst – tax state in America in every other tax category.
Sam Fiocchi (left) campaign with Gov. Christie in Cumberland County
First District Assemblyman Sam Fiocchi, the GOP’s lone 2013 legislative pickup, has hit the ground running in Trenton after his November election. You may have heard of Fiocchi; we covered his race pretty closely last cycle. And you may remember that all six candidates seeking seats in that race agreed taxes were to high and would lower them, including the Democratic incumbents who voted against a tax decrease in 2012.
Well, Save Jerseyans, Sam Fiocchi kept his word.
In case you missed it, Asm. Fiocchi introduced the “Direct Tax Relief for New Jersey Families Act” that will provide a property tax cut for New Jersey homeowners. This bill (A-157) creates a property tax credit that ramps up to $1,000 by 2016 and quadruple the homestead property tax and raise New Jersey’s Earned Income Tax Credit (EITC) from 20% to 25% of the federal EITC.
The United Van Lines annual migration study is out again, Save Jerseyans, and once again our beloved Garden State is ranked #1… for outward migration.
I can’t imagine why! After all, the trio of taxes, crime, and corruption are great hooks in real estate circulars.
Check this out:
You’d think voters in high-tax states like Illinois, New York and yes, New Jersey, would start to notice a correlation between their votes and the need for escape. You’d of course be wrong. The map speaks for itself but old habits die hard… like this week’s moronic mandatory home sprinkler legislation?
Save Jerseyans, now is the time of year where everyone comes up with lists. You know, the top whatever of 2013, resolutions/wish lists for 2014, you know the drill. And I’m no exception. I’ve got my own list of bills I’d like to see someone with enough guts to introduce in Trenton. And by someone, I mean a Republican, because I doubt any Democrat would consider any of these bills. So I will be posting one bill a day this week. And today’s wish is…
Lower Taxes for Everyone by Eliminating a Tax Bracket
New Jersey has 6 tax brackets, and just like the federal system, income is taxed incrementally by bracket. Here are the brackets in New Jersey right now: