New Jersey's "Millionaire tax a failure!

[Value Buy]

New Jersey Seeks Bridge Loan to Cover Cash Shortage: Report
Published: Tuesday, 28 Jun 2011 | 5:39 AM ET Text Size By: CNBC.com

Twitter LinkedInMore Share
The state of New Jersey is negotiating a credit line for up to $2.25 billion to cover a shortfall in the state budget, according to a report in the Wall Street Journal, citing unnamed sources.


Photo by: Bobby Hindy
--------------------------------------------------------------------------------


New Jersey is set to issue bonds over the summer, but the state is facing a cash shortage in the next few weeks and is considering an alternative financing arrangement to tide it over, according to the WSJ.

Repayments on the loan would be made following the bond auction in the summer. The state arranged a similar $2 billion bridge loan in 2009, but did not use the facility. Under Municipal Securities Rulemaking Board guidelines, issuers should disclose any bank loans they take out if they intend to sell more debt.

The $3 trillion US municipal bond market has begun to heat up in recent months, but loans and direct purchases of securities by banks are increasingly being used by local governments to refinance their debt. Moody's Investor Services has estimated that $13 billion has been raised through direct loans or private placements in the past year and a half.

[Value Buy]

New Jersey had passed a "millionaire's tax" on everyone making more than $500,000 a year to cover a tax shortfall.
Now we see that did not work out too well for them.
And another thing when did a thousandaire get classified as a millionaire?
Again, let's admit, it is the entitlement Agenda that has to be corrected.

[BeenThere...DoneThat...]

Jun 28, 2011 9:32:18 GMT -5 Value Buy said:

New Jersey had passed a "millionaire's tax" on everyone making more than $500,000 a year to cover a tax shortfall.
Now we see that did not work out too well for them.
And another thing when did a thousandaire get classified as a millionaire?
Again, let's admit, it is the entitlement Agenda that has to be corrected.

...ooo, ooo, ooo... I'm a Thousandaire!

[Value Buy]

Jun 28, 2011 9:34:52 GMT -5 BeenThere...DoneThat... said:

Jun 28, 2011 9:32:18 GMT -5 Value Buy said:

New Jersey had passed a "millionaire's tax" on everyone making more than $500,000 a year to cover a tax shortfall.
Now we see that did not work out too well for them.
And another thing when did a thousandaire get classified as a millionaire?
Again, let's admit, it is the entitlement Agenda that has to be corrected.

...ooo, ooo, ooo... I'm a Thousandaire!

Be careful there, be very careful.
The Obama crowd is coming after you. You sound like a person with money to give away if you are classified a "thousandaire".

[AgeOfEnlightenmentSCP]

Shocking, I know. The sad fact is that when millionaires pack up and leave- it's not the millionaires that suffer. They're merely inconvenienced. It's the people that they used to get a cup of coffee or a beer from. It's their golf caddie. It's their household staff. It's the guy with the carpet cleaning or landscaping business. It's Joe the Plumber.

[Mkitty is pro kitty]

And who happens to be governor there? But that's okay Conservatives, blame it on anything but your hero. What a helicopt-out.

The Obama crowd

The "Obama crowd" is not governor of New Jersey. That's okay, we know how Conservatives can't take responsibility for anything, and even a thread about a state with a Republican governor has to lead to a wahhhhhhh Obaaaammmmmaaaaaa bash. Sad. Very, very sad.

[floridayankee]

I'm confused....what does any of this have to do with the "New Jersey millionaire's tax"? NJ's millionaire tax passed and was vetoed by Christie and the state legislature failed to override the veto.
New Jersey Millionaires Tax Fails After Democrats Fail to Override Christie Veto

www.foxnews.com/politics/2010/06/22/new-jersey-millionaires-tax-fails-democrats-fail-override-christie-veto/#ixzz1QaOCtfuf

[jkapp]

Jun 28, 2011 10:26:41 GMT -5 Mkitty is pro kitty said:

And who happens to be governor there? But that's okay Conservatives, blame it on anything but your hero. What a helicopt-out.

The Obama crowd

The "Obama crowd" is not governor of New Jersey. That's okay, we know how Conservatives can't take responsibility for anything, and even a thread about a state with a Republican governor has to lead to a wahhhhhhh Obaaaammmmmaaaaaa bash. Sad. Very, very sad.

So since the governor (who has been in office less time than Obama) is at fault for NJ's woes...then you must also agree that Obama is at fault for our country's woes?

Or is it only if that leader is republican?

[Mkitty is pro kitty]

NJ's millionaire tax passed and was vetoed by Christie and the state legislature failed to override the veto.
New Jersey Millionaires Tax Fails After Democrats Fail to Override Christie Veto

See what I mean? Blame a bill that didn't even get passed, but don't blame Christie at all. LOL, this is too precious.

So since the governor (who has been in office less time than Obama) is at fault for NJ's woes...then you must also agree that Obama is at fault for our country's woes?

Sure, he's partially responsible. See how easy it is? Just because Conservatives can't take responsibility for anything doesn't mean other people can't.

Or is it only if that leader is republican?

Obama is a Democrat and he's partially responsible. Before you leave Rabidpartisianland, could you send us a postcard?