Sales tax holiday irresponsible

This Is Pre Election Pandering: Period (0.00 / 0)

John Shure is correct in his evaluation of this proposal.

On the other hand, some kind of relief is certainly called for for those who will be hit hardest by these economic troubles.

Most of that relief needs to come from the federal level.

Unemployment income should indeed be untaxed and benefits should be extended.

Assuming that Obama wins he/we must push though universal health care as a priority.

I would put a .25% transaction tax on every stock trade....the tax wouold be refunded/credited if the position is held for at least a year.    And double that amount for positions not held for at least 24 hours.   We need to find ways to make the speculators pay more in taxes while rewarding real investors.

Getting back to the "sales tax holiday"....it fits in with stated the Republican agenda "to starve the beast".  http://www.taxhistory.org/thp/...

Our tax system does need an overhaul and we do need tax cuts; but the overhaul needs to be in the direction of fairness and progressivity and the cuts need to be for the poor, working and middle classes.

Again, this sales tax holiday simply means that NJ would have to cut services or borrow more money.  Christie Whitman tried that "borrow and spend" approach and that's a large part of why we're in this mess.

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by: Nick Lento @ Tue Oct 14, 2008 at 16:54:14 PM CDT

J O B S (0.00 / 0)

Just sayin...........

Check out my 3 paragraph primer on Polywell Fusion.

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by: FogerRox @ Tue Oct 14, 2008 at 17:38:23 PM CDT

If it is focused on bringing NY and PA (0.00 / 0)

Residents to bring their dollars to spend in New Jersey, it might be worth the risk and investment. New Jersey businesses need to keep their doors open or more layoffs can follow.

Considering the current state of affairs that exist on a national and international level, we in New jersey have limited options, but until we can restore fiscal sanity to the federal government, I would be reluctant to dismiss any options that can help us.

Our neighbors try and draw NJ dollars to them, I would support a scheme to draw their dollars to us and if it helps NJ residents also, and after all the sales tax is regressive ... hey, why not?

"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness."
--John Kenneth Galbraith

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by: Babs NJSD @ Tue Oct 14, 2008 at 17:46:56 PM CDT

"....hey, why not?" (0.00 / 0)

...I would agree with your idea if we could guarantee that NY and PA wouldn't then be compelled to do the same thing to "compete".

The regressivity of the sales tax should indeed be addressed.  You're right on that Babs.   But that needs to be done in a revenue neutral manner that would mean that those with more income/assets would be paying higher taxes in some way, to make up the difference.

Keep in mind that this proposal came from the Republicans.  Shure didn't mention that in the diary, here's a link...

http://www.nj.com/newsflash/in...

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by: Nick Lento @ Tue Oct 14, 2008 at 18:36:16 PM CDT

Out of state shoppers? (0.00 / 0)

Ok - let's say someone is going to come to Jersey to escape taxation.  With gasoline still over $3 a gallon and your choice of tolls from New York, there's a break-even point that's set pretty high.

How much does an average family pay in sales taxes annually anyway?

Will commit political science for food.

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by: Thurman Hart @ Wed Oct 15, 2008 at 10:31:11 AM CDT

Corzine is Not Supporting This.... (0.00 / 0)

http://www.njbiz.com/article.a...

A six-week sales tax break during the holiday season proposed yesterday by Republican leaders in the state Legislature is getting a warm response from restaurants and retailers, but the Democrats, who have the power to kill the measure, are not on board.

On one level this is great political theater for the Republicans.   Pandering a few weeks before an election is really all they have.

I would be in favor of this move IF it was paid for by a 5 week rise in the state income tax for people earning over 200K per year that would offset the lost revenues.

I suspect that that would be the end of this initiative.

The people of NJ need to understand that doctrinaire Republicans don't really believe in government, period.  Their aim is to cripple or kill it so that the rich can keep on raping everyone else.   Of course it's more complex and subtle that that; but that's what it amounts to.

There are lot's of ways to cut the state budget that involve radical pay to play and ethics reforms that I dare say would, over time,  cut discretionary expenditures by 10% at least.

And I bet some REAL scrutiny at the various pension boards would uncover millions of dollars in all sorts of shenanigans that could be recovered......but I digress.

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by: Nick Lento @ Wed Oct 15, 2008 at 10:34:17 AM CDT

taxes (0.00 / 0)

jon shure...you know him...he thinks the sales tax isn't high enough...he thinks it should be 8%.....what i would do is cut the sales tax back to 6%....ironic isn't it, that shure wants to help the little people yet when we raised the sales tax to 7%, who does it really hurt...yup, the little guy....
jon shure is the last person we should be taking tax lessons from....UGHHHHHH!!!!

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by: punk7676 @ Wed Oct 15, 2008 at 11:35:47 AM CDT

punk7676 lies (0.00 / 0)

Last time I posted you said the same thing -- that I wanted an 8% sales tax. I challenged you then to say where you'd ever seen it. You couldn't. I challenge you again to stop using this site to spread lies about my positions. What the hell is your problem?

We've got a good discussion going here. States shouldn't be cutting each others' throats with sales tax wars; we're all in this together. And with gas costing what it does how many people are going to travel to save 3.5 cents on the dollar in taxes? Good points all.

But punk7676 you are a conversation-killer.

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by: Jon Shure @ Wed Oct 15, 2008 at 15:40:10 PM CDT

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