{"id":2647,"date":"2018-06-14T17:20:07","date_gmt":"2018-06-14T21:20:07","guid":{"rendered":"http:\/\/www.musingsbymichael.com\/blog\/?p=2647"},"modified":"2018-06-14T17:20:07","modified_gmt":"2018-06-14T21:20:07","slug":"lower-taxes","status":"publish","type":"post","link":"http:\/\/www.musingsbymichael.com\/blog\/2018\/06\/14\/lower-taxes\/","title":{"rendered":"Lower taxes"},"content":{"rendered":"

\"Phil<\/a><\/p>\n

Not one thing has been done to lower taxes in New Jersey and yet the legislature goes crazy over gun control.<\/span><\/p>\n

Governor Phil Murphy signed into law a bunch of stricter gun control legislation<\/a> and again stated that he wants to have a Millionaire’s tax and raise the sales tax back up to seven percent. Our legislators have expressed doubts about doing this and it looks like we may have a government shutdown in the near future as the stalemate continues on taxes.<\/span><\/p>\n

Back in April at a town meeting<\/a> Greg from Freehold said “This state is too expensive, and you’re making it worse<\/i>,” he was speaking up for many New Jerseyans. Murphy more or less just ignored what Greg said. For the governor thinks that we are not taxed enough.<\/span><\/p>\n

New Jersey Policy Perspective came up with the following figures-<\/span><\/p>\n

Here, we’ll take those in reverse to reflect the increased cost to you each year:<\/i><\/span><\/p>\n

* For a household income of less than $25,000, you could expect to pay another $32 a year.<\/i><\/span><\/p>\n

* Between $25,000 and $49,000,\u00a0 $61 more a year.<\/i><\/span><\/p>\n

* Between $49,000 and $79,000, $86 more a year.\u00a0<\/i><\/span><\/p>\n

*\u00a0 Between $79,000 and $132,000 a year, $116 more a year.<\/i><\/span><\/p>\n

* Between $132,000 and $286,000, $152 more a year.<\/i><\/span><\/p>\n

* Between $286,000 and $808,000,\u00a0 $255 more a year.<\/i><\/span><\/p>\n

*And for the top 1 percent of households, those with income above $808,000,\u00a0 $723 more a year.<\/i><\/span><\/p>\n

Yes I can admit that does not sound like a lot of money, but think about it this way for those who could use the little extra saved by continuing to lower the sales tax it does make a large difference to them. And I think that the sales tax should go down to three percent because the middle class and the poor where are hurt the most.<\/span><\/p>\n

As for the idea of a Millionaire’s tax, well they can’t collect it if the so called millionaires leave. I am sure that they will do just that as they have the money to live anywhere they want to.<\/span><\/p>\n

Our legislators, both Democrats and Republicans, now realize that they can not continue to tax the people of New Jersey to death. They know that the so called camel’s back is about to break and when it does the State of New Jersey’s income will fall dramatically as people flee this state for lower taxing ones.<\/span><\/p>\n

It is past high time that our legislators and governor start moving on lowering both the cost of living here and making this state much more business friendly.<\/span><\/p>\n

Just as a side note this is my four hundredth blog and just like the first one it is about money matters, Are Dedicated Funds really dedicated. The answer will really surprise you!<\/a><\/span><\/p>\n

That is my opinion- Jumpin Jersey Mike<\/span><\/p>\n