The New Jersey governor says so, and he wants to raise the income tax on the rich and the not-yet rich—those making more than $1 million per annual year*—by almost a full per centage point, to 10.75%.
Because, he argues.
So far, even the Progressive-Democrat-run legislature is demurring from that move, but the governor seems poised to veto a budget that doesn’t have the tax increase.
Give it up, the Progressive-Democrat governor says. I have better uses for your money than you do, the Progressive-Democrat governor says.
*Think $1 million is a lot? It is, but not so much in Trenton. On a cost of living basis, that would be worth $1.4 million in northern Texas.