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#41269 - 06/24/04 01:27 PM tax legislation
bchbum
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Registered: 04/30/04
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anyone notice the "tax reform" bill ushered in yesterday in trenton? mcgreevey hiked nj taxes by 40%.
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#41270 - 06/24/04 02:50 PM Re: tax legislation
scotty76
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Registered: 04/01/03
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The best is the "millionaire's tax" for people who make $500m.

 Quote:
Originally posted by bchbum:
anyone notice the "tax reform" bill ushered in yesterday in trenton? mcgreevey hiked nj taxes by 40%.

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#41271 - 06/24/04 02:57 PM Re: tax legislation
Brian G
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Which tax increases are you referring to? I saw that they proposed a 1.5 Billion tax hike on specific items, specifically HMOs, cigarettes, cosmetic surgeries, and tires.

Didn't see anything about a 40% increase in taxes.
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#41272 - 06/24/04 03:02 PM Re: tax legislation
FAP
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Registered: 09/12/01
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 Quote:
Originally posted by Brian G:
Which tax increases are you referring to? I saw that they proposed a 1.5 Billion tax hike on specific items, specifically HMOs, cigarettes, cosmetic surgeries, and tires.

Didn't see anything about a 40% increase in taxes.
They're adding an HMO tax? Isn't that just going to be passed on to the consumer/patient in a regressive manner?
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#41273 - 06/24/04 03:03 PM Re: tax legislation
Brian G
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 Quote:
Originally posted by FAP:
 Quote:
Originally posted by Brian G:
Which tax increases are you referring to? I saw that they proposed a 1.5 Billion tax hike on specific items, specifically HMOs, cigarettes, cosmetic surgeries, and tires.

Didn't see anything about a 40% increase in taxes.
They're adding an HMO tax? Isn't that just going to be passed on to the consumer/patient in a regressive manner?
I couldn't say. The article I read wasn't very detailed. There are ways to tax profits only. Not sure if they plan to do that or not.
_________________________
Still, though God’s been known to speak miraculously through a burning bush, lately, his announcements always seem to come through flaming *******s - Kevin Hayden

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#41274 - 06/24/04 03:13 PM Re: tax legislation
FAP
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If you tax profits the HMO has less money for investments and executive pay. To remedy this either the HMO will play accounting games to lower their "profits" or increase revenue so profits will remain at their previous level.
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You know, we have a 20 percent chance of being obliterated, so let's enjoy the cigar.

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#41275 - 06/25/04 02:15 PM Re: tax legislation
bchbum
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top personal income tax bracket rises from 6.37 to 8.97 in the top bracket. approx 40% hike. sheesh...
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#41276 - 06/25/04 02:21 PM Re: tax legislation
lucechad
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Registered: 01/27/03
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Do you have any stories or details on the tax increases? I haven't been able to find much info.
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#41277 - 06/25/04 02:36 PM Re: tax legislation
bchbum
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how about www.taxfoundation.org/newjersey/
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#41278 - 06/25/04 02:43 PM Re: tax legislation
MaryMargaret
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I heard that there's been a tax hike for people making over a 1/2 mil a year - as well as what Brian listed.

Since I make no where near that - yay. Who cares?
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