Stuff in the ‘Taxes Economy and Outmigration’ Category
Under Gov. Murphy: Property Taxes UP, Income Taxes UP, Corporate Taxes UP, Gas Taxes UP
Posted On02/09/2021 byNJ Spotlight reports that NJ property taxes were up 1.8% from 2019 to 2020. BuryPensions calculates that they actually rose 2.4%. In any event, they are up. But so were income taxes on the wealthy, corporate taxes and gas taxes. The bottom line is that under Gov. Murphy, taxes are UP, UP, UP and UP….Read More
What a Shame! It’s Final: Mondelez Is Leaving NJ and 600 Jobs Are Gone
Posted On02/05/2021 byCredit to BuryPensions for catching this. The Mondelez (owner of Nabisco) plant in Fair Lawn is shutting down. That’s 600 jobs that disappear with it. What a shame. NJ citizens must remember that NJ has had the worst tax climate for businesses in the nation FOR SEVEN STRAIGHT YEARS, and that Gov. Murphy just raised…Read More
WalletHub: New Jersey WORST State for Retirement Due to High Cost of Living
Posted On01/26/2021 byWalletHub is out with its annual “Best States to Retire” and New Jersey ranks dead last in the nation. The primary reason is that NJ is dead last in “Affordability” (NJ is 35th for “Quality of Life” and 33rd for “Healthcare”). The bottom ten for affordability are Maryland, Oregon, Washington, Massachusetts, Rhode Island, Maine, Connecticut,…Read More
NJ Economy Is Underperforming Again: 350,000 Fewer Jobs than Before Pandemic
Posted On01/25/2021 byThanks to the Garden State Initiative (GSI) for keeping an eye on NJ’s employment numbers. Altogether, NJ’s January jobs numbers were not good: NJ’s unemployment rate was 7.6%, almost a full percentage point higher than the national average of 6.7%. Even worse, NJ’s unemployment rate stands at 7.6% only because 93,000 New Jersey’s dropped out…Read More
NJ Policy Perspective’s McKoy Speaks Up for His NJEA Patrons
Posted On12/23/2020 byWell, at least Brandon McKoy is showing his true colors. As reported by the Wall Street Journal, the New Jersey Policy Perspective (NJPP) president panned the recent passage of a new economic-development incentive program: “We’re in a moment of economic weakness and we just said ‘we’re going to reduce our revenues.’” In other words, McKoy’s…Read More
Another Large Corporation and Employer Is Planning to Leave NJ and Its Worst-in-the-Nation Business Climate
Posted On12/04/2020 byMondelez (owner of Nabisco) has been in Fair Lawn since 1958. If Mondelez leaves New Jersey, hundreds of jobs will go with it. Why would Mondelez leave New Jersey after 62 years? As reported by Food Business News, Mondelez’s North American president said: meeting consumers’ evolving needs “requires us to make our products in more flexible,…Read More
Forbes Magazine: NJ Is the Most Indebted State. Yet Gov. Murphy Will Borrow $4.5 Billion More.
Posted On12/01/2020 byEveryone knows the old saying: “If you find yourself in a deep hole, stop digging.” But in his haste to please his public sector union pals, Gov. Murphy keeps digging the hole deeper. In the end, it is NJ citizens who will pay the price. Forbes Magazine recently updated just how deep NJ’s debt hole…Read More
Gov. Murphy’s COVID Bonds: More Money Now to Benefit His Public Union Pals Costs Future NJ Citizens Hundreds of Millions More
Posted On11/20/2020 byThe ever-vigilant BuryPensions blog has provided valuable information on NJ’s COVID bonds – the $4.5 billion that Gov. Murphy is borrowing to plug budget gaps and allow for a record $4.7 billion payment into NJ’s broken and unreformed public pension system. The sad truth is that Murphy is doing the bidding of his public union pals,…Read More
Fitch Rating Agency: NJ Is a Rich State, but Not Rich Enough to Handle Our Massive Debts
Posted On11/03/2020 byThe bond-rating agency Fitch came out with its annual State Liability Report, which measures a state’s total liabilities against state personal income. For NJ, this is an important measure because NJ is a rich state and this fact has often been used to downplay the dire nature of NJ’s pension crisis. To cut to the…Read More
Inconvenient Fact: NJ Unemployment Drop Due to Workers Leaving the Labor Force
Posted On10/28/2020 byNJ.com reports that the US Bureau of Labor Statistics data showed that the NJ unemployment rate dropped from 11.1% to 6.7% in September. This looks like good news, but unfortunately, it’s not. Most people don’t realize that the unemployment rate only includes people who are out of work and who have been looking for a…Read More