NJ governor: cut state income tax rate on income over $500,000

[^_^ 5,021]

The 9% rate the Governor is referring to only applies to income over $500K.

(Reuters) - New Jersey Republican Governor Chris Christie proposed cutting the state's top income rate to 6 percent from 9 percent during his first term despite New Jersey's serious fiscal problems.

"I think a good target is 6 percent," Christie said at a UBS municipal bond conference in New York.

...

Pennsylvania's top income rate is just 3 percent, Christie said, and while that low a rate is out of reach for New Jersey, he predicted that his state can out-compete its neighbor even if its top income tax is double Pennsylvania's levy.

"We'll clean their clock," said Christie.

http://www.reuters.com/article/idUSTRE68T6I120100930

[mawilson 2,133]

Sounds good. NJ taxes are among the highest in the nation.

[one...two...tree 2,762]

Gov. Christie knows who to look out for.

[lostinblue 1,989]

Gov. Christie knows who to look out for.

He needs to seek higher office

[Gary and Alla 3,694]

A better choice would be to eliminate income tax altogether like many other states do. Any tax cut is a step in the right direction.

[one...two...tree 2,762]

He needs to seek higher office

So he can out argue some teacher - she doesn't represent all teachers and she sucks at arguing. He's a lawyer. He knows how to argue. Some people like that which probably explains why we have so many lawyers in Washington already.

[Pooky 3,825]

So he can out argue some teacher - she doesn't represent all teachers and she sucks at arguing. He's a lawyer. He knows how to argue. Some people like that which probably explains why we have so many lawyers in Washington already.

The main differences between Chris Christie and most politicians are that he answers the question asked, not the question he wants to answer, and he is willing to defend in person the painful decisions he has made.

Makes him a refreshing change from Washington.

And the teacher got caught out. She wasn't there to debate, she was there to make her point and look smug for putting Christie in a difficult spot in public, or so she thought. She won't make that mistake again.

[one...two...tree 2,762]

The main differences between Chris Christie and most politicians are that he answers the question asked, not the question he wants to answer, and he is willing to defend in person the painful decisions he has made.

Makes him a refreshing change from Washington.

And the teacher got caught out. She wasn't there to debate, she was there to make her point and look smug for putting Christie in a difficult spot in public, or so she thought. She won't make that mistake again.

He may sound sincere and actually believe what he is saying, but that doesn't make his point of view more valid. So on one hand, he's telling the teachers to tighten their belts because of the state's fiscal crisis and on the other hand he's wanting to give those whose income is a half a million or more, a huge tax break. This is typical Republican policy meandering - tell Middle America to suck it up while favoring the rich.

[Obama 2012 1,714]

He may sound sincere and actually believe what he is saying, but that doesn't make his point of view more valid. So on one hand, he's telling the teachers to tighten their belts because of the state's fiscal crisis and on the other hand he's wanting to give those whose income is a half a million or more, a huge tax break. This is typical Republican policy meandering - tell Middle America to suck it up while favoring the rich.

when you're using 'public' money and STEALING money from other people, it's hardly 'favoring' anyone to give them a tax break. you're giving back what's rightfully theirs.

Of course, any smart economist will tell you that the rich don't really pay income taxes anyway because that's not where most of their money comes from....

[Danno 1,228]

Bottom line is... Do you want to attract wealthy people to your state or motivate them to leave.... I think NY and CAL. are prime examples of what happened when you try to shear the sheep too closely.

[mawilson 2,133]

He may sound sincere and actually believe what he is saying, but that doesn't make his point of view more valid. So on one hand, he's telling the teachers to tighten their belts because of the state's fiscal crisis and on the other hand he's wanting to give those whose income is a half a million or more, a huge tax break. This is typical Republican policy meandering - tell Middle America to suck it up while favoring the rich.

We can no longer fix our financial problems simply by taxing the rich. The state

of New Jersey has been doing it for years and the chickens are coming home to roost.

If you think that NJ millionaires got a "tax break" during the Bush years, think again.

In 2004 (hardly a bad year!) NJ increased the income tax rate from 6.85% to 8.97%

for taxpayers with taxable income of $500,000 or greater. In 2009, Jon Corzine

increased it further (to 10.75%) for incomes above $1 million.

Enough is enough. It's time for the middle class to suck it up and accept a tax

increase for the greater good of the nation.

[Danno 1,228]

We can no longer fix our financial problems simply by taxing the rich. The state

of New Jersey has been doing it for years and the chickens are coming home to roost.

If you think that NJ millionaires got a "tax break" during the Bush years, think again.

In 2004 (hardly a bad year!) NJ increased the income tax rate from 6.85% to 8.97%

for taxpayers with taxable income of $500,000 or greater. In 2009, Jon Corzine

increased it further (to 10.75%) for incomes above $1 million.

Enough is enough. It's time for the middle class to suck it up and accept a tax

increase for the greater good of the nation.

And another school of thought is:

If your wife is already maxing out the credit card .... how does giving her more cash help the root problem?

[^_^ 5,021]

Enough is enough. It's time for the middle class to suck it up and accept a tax

increase for the greater good of the nation.

[spookyturtle 9,466]

Et tu, Brute?

[Ban Hammer 13,470]

Et tu, Brute?