Millionaire tax bill

Support Sen. Shirley Turner and her Millionaire tax bill.  Call your Senators & tell them to support Sen. Shirley Turner and convince them to put the millionaire tax bill on the November 8th ballot!!

Sen. Shirley Turner (D-Mercer) 15th District.Proposes constitutional amendment to put question on ballot A resolution that would allow voters to decide whether to restore a higher tax rate on actual New Jersey millionaires has been introduced in the state Senate by Sen. Shirley Turner (D-Mercer). If voters approve the ballot question, the personal income tax rate on taxable income over $1 million would be increased from 8.97 percent to 10.75 percent, and the revenues from the levy would be dedicated to property tax relief. New Jersey has the highest property taxes in the nation. “An overwhelming majority of New Jersey residents indicated their support of resurrecting the Millionaire’s Tax, according to a recent Rutgers-Eagleton Poll,” Turner said Tuesday. “Seventy-two percent of New Jerseyans approve of the idea; the level of support for this tax reflects a strong public opinion that the sacrifice during these tough economic times has not been shared by the wealthy.” Gov. Chris Christie let the tax expire after the Democrats used it in the 2008-09 budget to help provide state revenue. Turner said the wealthy are paying less in income taxes than they were a year ago. The senator said the proposal would be a tax on incomes above $1 million, unlike the old version, which included adjusted tax rates on incomes down to $400,000. She said the money collected from reinstating the tax would be credited to a constitutionally protected Direct Property Taxpayer Relief Fund. “The governor’s office has said that this is a dead issue, but the public says otherwise,” Turner said. “In the face of the worst economic crisis since the Great Depression, it is appalling that middle and lower income families have to underwrite a tax cut so the state’s super-rich citizens can accumulate more material wealth. If the governor is unwilling to require a sacrifice from the millionaires, the voters should have the right to decide if we should balance the budget by balancing the burden.” — TOM HESTER SR., NEWJERSEYNEWSROOM.COM

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Heres a thought. The Republicans claim that tax cuts for the wealthy are good and actually needed because these cuts will actually create jobs. The premise is that the wealthy are usually some type of employer and the tax cut will free up more revenue for them to hire more. The short on this is that if this were true then after 8 years of Bush and his tax cuts then we should be at full employment. But instead we are at 10% unemployment. The long on this is that if an employer needs to hire more help then they will hire more help. The way I figure it, if I owned a business that began to see an increase in production due to a higher demand for my product or services and needed to hire more workers to keep up with the demand, I would hire. It wouldn’t matter if I received a tax break or not. On the other hand, if I had a decrease in production because the demand for my goods and services was lower than normal; I would have to layoff workers in order to stay open. If I received a tax break I wouldn’t just go out and hire more people!! This kind of logic is basic of course but why should it be made complicated?

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3 responses to “Millionaire tax bill

  1. Hurrah for simple common sense. It is obvious those who are directed to use the millionaire tax issue as a political tool are not in the real world and have no concept of the economics of our country and world. Do I agree there should be an increase to those earning significantly more than the average working family. Absolutely!! Do I agree with Senator Turner absolutely. However, money directed and dedicated to the Property Tax Payer Relief Fund will only provide the opportunity for those unions who come to terms with those state and municipal leaders eager to maintain their positions and cave into the pressure from the unions. I wonder if the union leaders who are pushing Senator Turners’ bill recognize that the non public workers contribute as much as 50% for their non-cadillac type benefits. Ask the union leaders how often they reduce wage or benfit costs when lay offs are eminent to save member jobs. Answer none. The ruination of a country can be laid at the feet of the voters, the unions and the wimp managers/leaders that negotiate Collectiver Bargaining Agreements. Contemporary Unions are Dinosaurs there is no longer for t

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