New Jersey Dems Looking to Tax the Rich Even More
New Jersey Dems Looking to Tax the Rich Even More
The rich are already taxed enough, right? Although many would disagree with this statement, unfortunately there are others who think that no matter how much they take from them, the rich can’t ever be taxed too much. To that end, democratic lawmakers in New Jersey are pushing for even greater income taxes on the wealthy, in an effort to keep the pension payment alive in the state’s budget for 2015.
According to the Assembly speaker, the hope is that the uptick in income tax would start for those who make $1 million instead of a previous plan, which had the hike starting at an income of $500,000.
Meantime democratic lawmakers were also reportedly looking to add a 15 percent surcharge on corporate business taxes, as well as suspending certain business grants for a year. As the democrats continue to iron out their plans, it might all be a moot point.
Whatever plan they come up with is likely to be vetoed by Gov. Chris Christie. That’s because this would be the fourth different time that democratic lawmakers have tried to create a so-called “millionaires tax.” Gov. Christie has vetoed it the previous three times.
Too many taxes aren’t helpful to businesses or the economy. At GROCO we believe in helping you keep as much of your money as legally possible. That’s why if you need help with your taxes or accounting then you should contact us today.
We hope you found this article about “New Jersey Dems Looking to Tax the Rich Even More” helpful.
If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Which Tax Extensions Will Affect Your 2014 Return?
Are You Ready for Your 2014 Taxes? Although many people might answer yes to that question, the fact is taxpayers can only do so much as long as Congress is dragging its feet on several expired tax extenders. The fact that these extenders are still sitting in limbo is nothing new. It happens almost every…
So-Called Temporary Recession Tax Not So Temporary
Remember the great recession of 2009? Although the recession may now be a thing of the past, some so-called “temporary” taxes are having a harder time fading into the background. That’s because many states throughout the country are still collecting on tax bills that were enacted solely for the purpose of refilling public reserves. Fourteen…
Congress Not Looking to Pass Internet Sales Tax Anytime Soon
Ever since the Internet became a worldwide sensation, there have been those who think it should be taxed, especially Internet sales from state to state. Taxing the Internet would be a huge source of extra revenue for the government, but for those who use the Internet to shop (which is just about everyone these days),…
NBA Stars Losing Hefty Amounts of Their Salary to the Taxman
Just about everyone knows that professional athletes make a ton of money. Whether you agree with athlete salaries or not, the fact is those hefty numbers you always see reported when an athlete signs a new deal aren’t really all that they’re cut out to be. Oh sure, they are making a lot of money,…