Issues and Updates

Today is June 1st. Almost half of 2010 is already gone and I am taking stock. Governor Christie is still trumpeting that the legislators are wrong to try to continue (that's correct, continue) the "Millionaires Tax" for the year 2010.

Governor Corzine's original millionaire's tax was intended to be a boost for one year only but did not produce the anticipated revenue because many of the targeted group supposedly just filed elsewhere or deferred payment. Anticipated revenue was not forthcoming.

The lie here is that if Christie's Administration renewed the tax for 2010, we would see those 16,000 filers "leave the state".

The truth is that two states, California and New Jersey, did not lose millionaires due to higher rates of taxation. Quite inexplicably New Jersey has millionaires filing IRS returns in spite of the rates of taxation. Part of the reason just could be that adjoining states are higher, and this makes New Jersey look good, but I think it is favorable treatment and our ambiance that makes our state so popular.

What fun is money if you can't show off? New Jersey is dab smack between New York and Washington, DC. This is perfect for hobnobbing in the arts, music venues, recreation. Perfect for politics...so close to the Capitol. Perfect for business and financial interests who can commute to Wall Street but drive home weekends to their sprawling estates and farms...which have been greatly discounted taxwise because of New Jersey's farmland assessment. Get the picture?

Yep. I find it hard to believe that a millionaire would want to leave. Now on the other hand, if you have more than one home, and many wealthy folks do, you might want to have your accountants look into advantages of filing and paying taxes from an address of one of those states who do not provide New Jersey's services...like rural states who do not have to maintain the road networks of this corridor state, like rural western or southern states who do not have the school challenges that New Jersey faces, like states with fewer persons per square mile and as a result have demographics that do not require the medical or welfare services New Jersey supplies. You bet they would not have our taxes.

Susquehanna-Roseland tower project, proposed by the PSE&G and apparently boosted by the Christie administration because its President was part of the new governor's transition team, still has not gotten permits to proceed in the Highlands and Delaware Water Gap area. Activists have made their voices heard about environmental issues and PSE&G has not so far come up with a story that will change their minds. Everyone in this state will have to carry the bill on this one so it would pay to get involved.

The Mayoral and Council Run Off Election is scheduled for June 15. Hopefully there will be a larger turnout because the choices are easier now that there are fewer names on the ballot.

Also coming up on June 15, is the Referendum on the sale of Trenton Water Company assets. The affected outlying pipelines of Lawrence, Ewing and Hamilton are to be sold to the New Jersey division of the American Water Company. The Trenton Water Company is not for sale. For some time now, the leaks and inability to collect receivables have made administrating these lines a real headache. It looks like the Palmer administration thought to kill two birds with one stone. Namely: to cut down on the collections and at the same time to bring in monies that could keep a raise in taxes at bay. Well we see how that turned out. Because of the delay in the sale, the State stepped in and dictated a horrific tax increase on homeowners and small business folk in this city.

The tax exempt properties in Trenton are more than half of the total area of the city. Three quarters of all of Mercer County exempt properties has decided that "This is the place." If a Trenton address is so great, then maybe we should tax for the good will that implies. Anything.

When I was touring the city at the invitation of one of our candidates, we were amazed at the number of churches. This might be truly wonderful if it was not for the equally amazing lack of progress we should be seeing as a result of their efforts. Jeepers, guys,as the Bible directs, it is time to "render unto Caesar what is Caesar's". We all have to help out.

Have a good day.