New Jersey Governor Says Enough is Enough on Taxing the Wealthy
New Jersey Governor Says Enough is Enough on Taxing the Wealthy
It seems that no tax is a bad tax when it comes to the “left” side of the government. It’s a well-known fact that the wealthiest Americans pay the largest portion of the country’s taxes. However, there are some government leaders that lean “right” who still think that the rich already pay more than their fair share of their income to the government.
Rich fair share
To that end, Gov. Chris Christie of New Jersey recently vetoed more tax increases that would have raised the state’s tax bill by more than $1 billion. Meantime, Gov. Christie also noted that the need for serious tax reform across-the-board is overdue. Gov. Christie recently signed New Jersey’s budget and pointed out that the state’s richest 1 percent are already paying around 40 percent of the total tax bill.
Wealthy are concerned
Gov. Christie is concerned that if the state continues to increase the tax bill for the wealthy they will simply decide to live elsewhere. Gov. Christie also noted that the state lost around $70 billion in the five years after the last major tax hikes in 2003 and 2004.
There’s no question that the government already takes enough from the wealthiest people in America. At GROCO we agree with Gov. Christie that tax reform is needed and not more taxes to the wealthy. Although paying taxes is important, we focus on helping you keep as much of your money as you are allowed by law. Contact us today for help with your tax planning.
We hope you found this interview “The Evolution of Business Education” 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.
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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 with clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
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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.
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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..
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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
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