NJ Shutdown Watch Closer

It looks like it’s going to happen. Some bad (or good depending how you are rooting) signs from other sources:

David Wildstein sees it as likely since the compromise the legislature came up with (raise taxes on multi-millionaires instead of millionaires) according to insidernj was not enough for Murphy.

NJ Legislature website was just updated with items to be voted on tomorrow (notice the top one):

A1237 St. parks open-failure to enact approp. 2RA 1/9/2018
A1330 Industrial Hemp Pilot Prog.-creates 2RA 2/15/2018
A1414 Finan. literacy instr.-concerns 2RA 6/18/2018
A1753 Hotel occupancy fee-impose sales tax 2RS 6/25/2018
A2179 Adulterated candy-proh. sale 2RA 6/11/2018
A2189 Distributing explicit images-concerns 2RAC 6/25/2018
A2318 Animal rescued from mv-immunity 2RA 5/17/2018
A2747 Continuing care communities-concerns 2RA 6/25/2018
A3190 Bus., cert. airports-prov. tax cred elig 2RA 2/8/2018
A3294 Emerg. assist.-extends cert. elig. 2RA 6/18/2018
A3628 Civic Info. Consortium-estab. 2RAC 6/25/2018
A3765 Sch. safety specialist-desig. 2RA 6/18/2018
A3772 Pool and spa svc. contractors-concerns 2RA 6/11/2018
A3888 Alco. bev. lic.-allows issuance 2RS 6/25/2018
A4208 Complete Count Comm.-estab. 2RAC 6/25/2018
A4258 Firearm-concerns theft 2RA 6/25/2018
A4259 Tickets-restructure sales law 2RA 6/25/2018
A4261 St sales and use tax-concerns collection 2RA 6/25/2018
ACR182 Camden Co.-approve hist. preserv. proj. 2RA 6/25/2018
AJR122 Hispanic Journalist Pride Day-Sept 20th 2RA 5/17/2018
S250 Airports, cert.-prov. tax cred. elig. 2RA 4/5/2018
S866 Emerg. assist.-extends cert. elig. 2RA 6/18/2018
SJR14 Hispanic Journalist Pride Day-Sept 20th 2RA 6/21/2018

21 responses to this post.

  1. Posted by boscoe on June 29, 2018 at 7:53 pm

    No Senate session scheduled for Saturday. Unless called into emergency session, A1237 can’t move to Governor’s desk.

    Reply

  2. Posted by El gaupo on June 30, 2018 at 7:58 pm

    El Guapo predicted the last minute deal. No shutdown. Too much too lose. Once again I was a prophet. Show me the love, my fellow burypensions peeps!!! Show me the love…..

    Reply

  3. Yay! you were right. But it looks like Murphy caved $1M to $5M and no increase in sales taxes back to 7% (which I thought was a no-brainer cuz no one would actually notice). Maybe they left that there for an easy increase the next time. Who is the real boss? Sweeney or Murphy?

    Reply

    • Posted by El gaupo on June 30, 2018 at 11:48 pm

      Sweeney will never be anything more than he is right now. Murphy may be looking higher? I really don’t know. But the winner would have been the GOP if the govt shut down and no democrat wanted that at all. They were not far apart and the genuine dislike the two have for one another was the main reason it got as far as it did. The assembly leader was a bit player in all of this and there were some Dems who agreed more w Murphy.

      Reply

      • Posted by El gaupo on July 1, 2018 at 7:23 am

        Also, as a side note, on N.J.com a full 11% of our N.J. households earn more than $200k a year. A 40% increase since the recession. Households between $100k and $200K also increased. Now I’m not going to sit here and say that $200K a year is wealthy. Hell, I fit into that 11% just by having a dual income. But, it does pay the bills, and let you have most of your needs and some of your wants.
        And I’d like someone to show me a low tax state that has income numbers like this. Point I’m making is one that I’ve made several times here. Make your money here and retire there. You will live very well. Delaware, or with our friend in AZ. For instance.
        And the numbers also showed households making less than $100K decreasing by 7%.
        Just asking, the doomsday scenario folks on here all the time say is happening is not reflected in these numbers. You will always have retiring folks looking for cheaper cost of living as well as folks who have lost a job etc. but all things considered, if you look at it from an angle of “high income-High tax while working, and then High income(if you’ve invested properly)-low tax while retired in another state” you will be be fine. Many states do not offer the same value that N.J. does for a person during their working years and raising a family. I know it’s expensive to live here but the numbers back up the high salaries. And the education is ranked as the best(or at least top 3) in the country. And we deal with are own shithole areas where the schools suck as well.

        Reply

        • Posted by Stanley on July 1, 2018 at 10:07 am

          ” Once again I was a prophet.” You’re a real oracle all right. Sure enough! What can we expect from the stock market in the next half year?

          Yep, you have a big bag full of ious. What if they turn out to be bills of goods? No, you’ll be paid. Of course there will have to be adjustments, either in how much you get or what it will buy. Maybe both. Keep working on your economist skills. You’ll need them to navigate the rocks and shoals of our present circumstances.

          Reply

          • Posted by Tough Love on July 1, 2018 at 11:58 am

            El guapo has been on a rant about how people should take advantage of the higher wages and educational opportunities in States such as NJ and then retire to a lower tax State.

            While to a certain extent that’s understandable, part of the Public Sector Union/worker justification for their VERY high pensions (unreasonable as those justifications generally are), is the high cost of living in NJ (presumably BOTH while working AND in retirement).

            So perhaps what NJ’s taxpayers should do ……… to address the El gaupo call to move away after retirement ……….. is to partition Public Sector pension into 2 pieces, with “Part A” about 2/3 of the Total pension, and “Part B” the remaining 1/3.

            And when you retire, you get Part A no matter where you live, but you ONLY get Part B if NJ remains your Primary residence (and with your NJ pension payments subject to NJ State Taxes)..

            Reply

          • Posted by Stanley on July 2, 2018 at 10:25 am

            Good idea! I’m surprised that NJ doesn’t continue to tax income paid from NJ to former residents. I may be mistaken about this, but I’m thinking that MI continues to tax people out of state on the income derived from Michigan. What a mess!

            Reply

          • Posted by Tough Love on July 2, 2018 at 10:36 am

            Stanley,

            I believe (by Court decision) NJ cannot tax out-of-state residents on pensions sourced from Public Employment in NJ.

            But it seems that a pension can be DESIGNED from the getgo as I described (with the Parts A and B). You simply don’t get part “B” unless NJ is your Primary State of residence while in retirement……………. Part “B” being looked upon as a “supplement” rather than a “penalty”.

            Reply

          • Posted by Tough Love on July 2, 2018 at 10:39 am

            Stanley,

            Followup…………..

            California DRASTICALLY need to something like I just described. Most CA Pubic Sector workers leave CA for lower-tax locations once retired ………… and take their incredibly over-stuffed pensions with them.

            Reply

          • Posted by Stephen Douglas on July 2, 2018 at 1:40 pm

            If, by “Most CA Pubic Sector workers”, you mean roughly fifteen percent, but who’s counting?

            LOL! My total CA income tax last year was $1,600. Couldn’t even rent a U-Haul for that

            Reply

          • Posted by Tough Love on July 2, 2018 at 6:05 pm

            Stephen Douglas (aka “EARTH”),

            At least you didn’t challenge me when I stated that those who leave CA, leave with ……………… “incredibly over-stuffed pensions”.

            Reply

        • Posted by El gaupo on July 1, 2018 at 1:37 pm

          Stanley,

          As the article points out, you and you’re ilk have been saying that for years now. I’m not saying at some point we won’t have another recession to weather. I’m just saying that the argument that the average New Jerseyian (is that the right term?) is not in such dire straits as you would make them out to be. Yes, sooner or later you will be right and be able to say”see I told you so….”. But a few years after that it will be fine just like the last recession. The key is saving for a rainy day when you are doing fine. I always do and to not is foolish. With over one in 10 making more than $200K, the sky is certainly not falling.
          TL, That would surely never fly. I should certainly not be prohibited from living where I choose. Cmon. Would u really want me here to raz you on this blog?
          You’re advocating for a non starter that we tied up in the courts for years.

          Reply

        • Posted by El gaupo on July 1, 2018 at 1:37 pm

          Stanley,

          As the article points out, you and you’re ilk have been saying that for years now. I’m not saying at some point we won’t have another recession to weather. I’m just saying that the argument that the average New Jerseyian (is that the right term?) is not in such dire straits as you would make them out to be. Yes, sooner or later you will be right and be able to say”see I told you so….”. But a few years after that it will be fine just like the last recession. The key is saving for a rainy day when you are doing fine. I always do and to not is foolish. With over one in 10 making more than $200K, the sky is certainly not falling.
          TL, That would surely never fly. I should certainly not be prohibited from living where I choose. Cmon. Would u really want me here to raz you on this blog?
          You’re advocating for a non starter that we tied up in the courts for years.

          Reply

          • Posted by El gaupo on July 1, 2018 at 3:50 pm

            Earth— lol. Sometimes I accidentally hit the button twice thinking it didn’t go through. You know how us light bulb changers are. Haha.

            Reply

          • Posted by Stephen Douglas on July 1, 2018 at 4:55 pm

            What’s worse than a light bulb changer?

            Maybe a self proclaimed “financial expert” (his goal is to educate us) who completely ignores social and political science (and “economics”, which is not the same as “finance”).

            A spreadsheet is a tool. It can determine what is “equal”, but not what is “right”, “just”, or “fair”. It won’t even define “equal” if you don’t use logical inputs.

            GIGO

            Reply

          • Posted by El gaupo on July 1, 2018 at 5:23 pm

            I’m with ya Stephan Douglas
            “He” does think “he” is a know it all from the insurance world

            Reply

          • Posted by Tough Love on July 1, 2018 at 7:07 pm

            Finance, not insurance ………… but sure, it comes into plan quite often.

            Reply

  4. Posted by geo8rge on July 1, 2018 at 3:07 pm

    The real danger for merchants and consumers, however, is what comes next. The Wayfair decision may encourage some aggressive states (California and New York come to mind), and some states desperate to collect more taxes (New Jersey, Connecticut, and Illinois, for instance) to try to squeeze much more in revenue out of this ruling than South Dakota did.

    https://www.city-journal.org/html/why-wayfair-isnt-fair-15990.htm

    Reply

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: