Elderly, Poor To Pay More Under Proposed NJ Budget

elderly-300x282A legislative budget officer says New Jersey’s elderly and poor would see their income tax liability rise under Gov. Chris Christie’s proposed budget. David Rosen of the Office of Legislative Services say upper-income earners would see their tax burden shrink. Rosen says senior citizens would forego property tax rebates averaging $1,200 this year under the governor’s $29.3 billion budget. He told the Assembly Budget Committee Wednesday that low-income wage earners would pay more income taxes or get a lower refund because of changes in the earned income tax credit.

However, Rosen says people making more than $400,000 a year would pay less income taxes because a state surcharge in effect last year has expired.

Rosen presented a revised revenue outlook that shows the state going through a historic revenue decline. APP/AP

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2 COMMENTS

  1. That’s the point, that’s why we elected Obama, so that we can take all the money from the rich people and take it for ourselves. Then along comes this dude in NJ and thinks he’s gonna stop us from taking away all the money from the rich guys? Obama won’t let. The day will come soon when we will put every rich guy in jail for stealing from the poor

  2. Frankly, I don’t see the issue.

    People who pay taxes will have their taxes lowered. (which by the way, as you can see in the article itself, was a temporary tax hike last year, and that tax is expiring)

    People who get free money from the government (Earned Income Credit) will have that lowered because the state of NJ can’t afford it anymore. Their projected deficit for this coming fiscal year is $10 BILLION, or one third of the total budget. This is unsustainable, and the government need to stop the spending, including the free “earned income credit” (welfare) money they give to poor people who dont pay taxes in the first place.

    This makes total sense.

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