Stuff in the ‘Taxes Economy and Outmigration’ Category
NJSpotlight Is Partly Right About NJ’s Meager Rainy Day Funds, Woeful Fiscal Condition
Posted On06/09/2020 byNJSpotlight’s John Reitmeyer does a good job (here) of highlighting NJ’s deficient Rainy Day funds and how NJ has been reduced to borrowing $5 billion to plug a massive gap in the state budget. He also rightly notes that state public pension payments are eating up funds that might otherwise be used to build a…Read More
Coronavirus Creates A Huge Double-Whammy for New Jersey’s Finances
Posted On03/24/2020 byThe Star-Ledger’s Samantha Marcus wrote an article today describing the anticipated hit to NJ’s tax collections. Thanks to a strong economy and robust stock markets, NJ’s tax revenues had been running 6% above last year, but with many taxpayers out of work and the market down, NJ’s tax revenues will take a big hit –…Read More
Looks Like Some Good News on Sweeney-NJEA Healthcare Deal
Posted On03/17/2020 bySenate President Steve Sweeney has introduced a new healthcare bill based on the recent deal between Sweeney and NJEA President Marie Blistan. The bill appears to take notice of the recent ProPublica investigation into excessive and wasteful out-of-network reimbursements in the state-run health plans for school employees (as covered by SPCNJ’s “Unnoticed $500,000,000 Scandal Is…Read More
Rutgers Conference: NJ Losing 20,000 College Graduates a Year to Other States
Posted On03/10/2020 bySPCNJ applauds Rutgers for holding a conference that focused on the outmigration of young people out of NJ – a net loss of over 200,000 young people over the past decade. This is the future of NJ walking out the door. The Murphy administration has taken steps to mitigate the cost of college but it has done…Read More
A Radical “Re-Boot” Idea for Bankrupt Illinois Is a Stark Warning for New Jersey
Posted On03/03/2020 byRealClearPolitics published a piece that presents a possible salvation for bankrupt Illinois – and possibly New Jersey as well. Author Richard Porter decries Illinois’ massive pension debts, high taxes, declining home values and the outmigration of its citizens, and suggests that it “re-boot” as a new state that could remedy these depressing realities – essentially…Read More
More of the Same: The Governor’s (Special-Interest-Dominated) Status Quo Budget
Posted On02/26/2020 byGovernor Murphy’s budget is more of the same: more taxes and more spending for his special-interest patrons. There may be other reasons why Governor Murphy supports these policies, but we know for certain that they align with the most powerful special interest in the state’s (the NJEA) priorities: Millionaires’ tax: this has long been a…Read More
NJEA-backed Coalition Calls for $3.1bn in Tax Hikes While Residents Flee NJ
Posted On02/21/2020 byThe timing is perfect. A new NJEA-backed coalition, “For the Many,” calls for $3.1 billion in tax hikes the same day that a new study determined that New Jersey lost the second-most residents of any state. A Zippia study of US Census Bureau data entitled “Here Are the States Americans Don’t Want to Live In…Read More
Wall St. Journal: NJ and Other Blue States Are Losing People and Wealth
Posted On01/08/2020 byThe Wall Street Journal had an excellent editorial today on the out-migration of people and their taxable incomes from high-tax Blue States to low-tax, mostly Red States. The Journal piece echoes the findings of SPCNJ’s recent report “Beware the Downward Spiral: The Economic Consequences of New Jersey’s Special-Interest-Dominated Status Quo.” Taken from Census and IRS…Read More
Excellent Star-Ledger Op-Ed by Garden State Initiative on NJ Outmigration
Posted On12/13/2019 byCandidates beware: Property taxes are pushing Dems, Republicans and even independents to leave New Jersey By Star-Ledger Guest Columnist By Regina M. Egea It was well reported during 2017’s gubernatorial campaign that then-candidate Phil Murphy recounted a conversation with California’s then-Gov. Jerry Brown in which he said he wanted to make New Jersey the “California…Read More
Wake Up New Jersey: Gov. Murphy Wants To Raise Your Taxes, and Not Just on Millionaires
Posted On12/05/2019 byNJ Spotlight wrote a revealing article on Governor Murphy’s tax-hike plans. If it were up to Murphy – that is, if senate president Sweeney weren’t resisting Murphy – the state sales tax would rise from 6.625% to 7%. It is true that some items like groceries and clothing are exempted, but make no mistake about…Read More