NYcarbineer
Diamond Member
New Jersey's personal income tax system consists of six brackets and a top rate of 8.97% kicking in at an income level of $500,000. Among states levying personal income taxes, New Jersey's top rate ranks 6th highest nationally. New Jersey's 2008 state-level individual income tax collections were $1,457 per person, which ranked 6th highest nationally.
The Tax Foundation - Tax Research Areas > New Jersey
NJ has always had a "millionaire's tax". To say they are not "sharing the sacrifice" is utter bullshit. Once again the progressives are spinning with misinformation.
6th place just isn't good enough when you are competing with California to be the first state to go bankrupt.
Then you would agree that leaving the millionaires alone and balancing the budget by distributing the sacrifice around to everyone BUT the millionaires is the right plan?