Tag Archive: fair share

Christie’s Trust Fund Raid Halted

promoted by Rosi

Today, Governor Christie handed Prince Harry a royal fleece as part of Sandy recovery. Unfortunately, the Christie Administration continues to royally fleece lower-income families displaced by Sandy. But a new court order holds out promise for the thousands of New Jersey residents still seeking a place to live after the storm.

Late yesterday afternoon, three judges from the New Jersey Appellate Division issued an order blocking the Christie administration’s seizure of up to $164 million in affordable housing trust funds. This marks the second time in the last year the Administration has attempted to seize funds intended to provide safe and affordable housing to our state’s poorest and most vulnerable families. A significant amount of these funds – 57 percent – were also already earmarked for towns in the nine counties hit hardest by Hurricane Sandy.

Tax Policy is the Problem

Everyone agrees we have a tax problem in NJ. The focus is on property taxes but income tax is seldom discussed. Here are the facts about income tax…

Income >>>>> Tax rate

$0 and $20,000 >>>   tax rate is 1.4%.

$20,001 and $35,000 >>> tax rate is 1.75%.

$35,001 and $40,000 >>> tax rate is 3.5%.

$40,001 and $75,000 >>> tax rate is 5.525%.

$75,001 and $500,000 >>> tax rate is 6.37%.

$500,001 and over >>> tax rate is 8.97%.

So…

Income 4 times the lowest tax bracket pays a tax rate 4 times higher.

Income 40 times the lowest tax bracket pays a tax rate 6.4 times higher.

Income 400 times the lowest tax bracket (8 million) pays… 6.4 times higher.      Huh?

On 2/24/11, State Senator Shirley Turner proposed that millionaires should pay a rate of 10.75%. What an Outrage!! Not high enough in my opinion. But Governor Christie, who says public workers must pay more, says millionaires pay enough.  Senate President Sweeney is remaining mum on the subject.

Small Businesses Ante Up for Health Care

Small businesses are among the groups hit hardest and left most vulnerable in our current health insurance system.  Yet, the small business community has been almost uniformly typecast as down on reform.  So goes the conventional wisdom.  But is it true?

This is not solely an academic question.  Where small business stands on health care is critically important to the prospects for meaningful reform in 2009.  As the debate over reform heats up, a whole lot of people – from Members of Congress to the media to the public – will be looking to hear from small business owners to find out where they stand on health care.

Rather than stand around and pontificate about what small business owners are thinking about health reform, we decided to go out and ask them.  To get a beat on small business owners’ priorities, we conducted a survey project in 2008 where organizers in twelve states around the country went door to door, got face to face with local small business owners, and surveyed them about their experiences with health insurance and their perspectives on different reform proposals.