VIDEO: Sweeney Warns of Negative Effects of Federal GOP Tax Plan would have on New Jersyans

At the League of Municipalities Conference in Atlantic City, Senate President Steve Sweeney warned of the negative effect the “Tax Cuts and Jobs Act,” passed by Congressional Republicans, would have on New Jersey if made law.

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  1. How about sweeney and his colleagues lower our taxes and there wouldn’t be any problem
    But of course thats not going to happen as NJ is run by tax and spend democrats and when murphy is sworn in they will taxing us more than ever

  2. Well, what will he do about it besides “warn us”?

    That’s not the only problem with the bill. Although corporate rates will be slashed to 25%, pass-throughs, like LLCs, will remain as high as ever!
    Those of us with small businesses are being thrown under the bus by the GOP!!

    • What are you talking about? Corporations are taxed TWICE. Once at the corporate level, and a second time when it distributes the income to the owner.
      Small businesses are only taxed once, as the income flows through to the owner.
      There is a very good reason to lower the double taxes on corporations, so that they stay in the US instead of moving to lower tax countries. But remember – the owners are still being taxed AGAIN when the profits are distributed to the owners.
      On the other hand, small businesses that are not taxed AT ALL until the profits flow through to the owners — why should the owners get a lower tax rate than the rest of us who are employees and have to pay high taxes.
      You’ve been lapping up the Dem propaganda. Unbelievable.

  3. Maybe we should elect people that spend less money, that way our taxes will go down. Show me one elected politician in Trenton that is not very wealthy….and it is done with our tax money.

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