FOX: New Jersey’s Democrat Gov. Phil Murphy unveiled his fiscal 2021 budget on Tuesday that aims to help plug a nearly $6 billion budget hole through a variety of revenue-raising measures – including renewed calls for a millionaire’s tax, among other rate increases for corporations and wealthy residents.
“This budget proposal is not simply about getting New Jersey back to where it used to be, but moving forward to where we need to be by building a new economy that grows our middle class and works for every single family, while asking the wealthiest among us to pay their fair share in taxes,” Murphy said in a press release.
Murphy pitched his millionaire’s tax earlier this year – making Tuesday his latest attempt.
According to the budget and consistent with past proposals, Murphy wants to raise taxes on this group to 10.75%, from 8.97%. The change would be effective starting in tax year 2020.
The higher rate is currently applied to those earning incomes more than $5 million.
The hike, according to Murphy’s office, would raise $390 million in fiscal 2021.
His dentist should be brought up on felony charges!
Man… creeeeeepy lookin’ dude.
I think there’s a couple gym owners that plan on squeezing his head until it pops like a zit anyway. He may not get the chance to chase all of the money out of state.
What Murphy and other Governors (mostly Democrat) is that this past 8 months has shown that certain types of workers and corporations alike that they can actually operate from anywhere and moving to a friendly state would not be nearly as expensive as it once was. So keep banging the “pay their fair in taxes” Governor and you may find you’re preaching to an empty room.
POLITICS REALLY IS HOLLYWOOD FOR UGLY PEOPLE
Oh great. More Jerseyites moving south.
There is no such thing as “a fair share” of paying for political empires.
What ever happens, never cut spending to existing state revenue.
@gin blossom-you’d think that all the dough he made with Goldman Sachs would have given him the wherewithal to go see an orthodontist.
Wealthy people fleeing NJ in 3..2..1. Don’t come to Texas. We are full up here.
“…it’s the latest thing in dentures, it’s called the cowcatcher.”
The left never asks how in the hell did we get here in the first place. But it’s always solved by raising taxes.
Hide the children.
Who photoshopped AOC’s choppers onto Murphy’s photo?
He’s a strange looking chap. Stupid too.
And… the NJ Legislature will spend 8 Billion more on new programs.
Demonrats are just so moronic, a dude or dudette with a million bucks can easily move away from your increased taxes, resulting in even less tax revenue.
Stupid bastards really do think money grows on a money tree you can just pick whenever you run out.
New Jersey is the “Garden State,” why doesn’t he just plant more money trees?
Apparently, another “book” that can be judged by its cover…
BTW, is that left eye glass?
Amazing. Progressive must mean driving your tax base away so you have to raise taxes, thereby driving more away.
It’s an endless ‘progression’ that the left seems to believe can not end, given enough regulation, rules and tyranny.