Well they won't call it bankruptcy, but that is exactly what it is. In order to fool the masses, they will give it a fancy name like "conservatorship" or "beneficial restructuring" or "taxpayer enhancement plan", but we all know what it really is.
Rutgers funding in jeopardy because of mass migration out of NJ!
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Agreed. My dad for example started out making about 5K per year in 1949. By the time he retired he was probably making about 200K and thats what his pension was based on. He put into it for 40 years and my mom is still collecting it at age 95 which is 30 plus years add in the sweet health benefits. They got out a lot more than they put in.
Funny. Massachusetts would be a welcome relief from New Jersey. The old Taxachusetts from 40 years ago is gone. Their rates have gone down little or not at all. But the 3% top rate for New Jersey is DEAD AND GONE.
They should use the same tables the Social Security Admin uses. Won't get dick compared to what u paid in.
New Jersey Is Becoming The Most Hated State As Households Flee In Record Numbers
A new tax on millionaires, a 22.5% gas tax hike (bringing the total increase to 250% in 4 years), and now a tax on high frequency trades: it is becoming obvious to most - except perhaps the state's democratic leadership - that New Jersey is now actively trying to drive out its tax-paying population and top businesses with a series of draconian measures to balance its deeply underwater budget, instead of slashing spending. The state-imposed limitations on commerce, mobility and socialization due to the covid pandemic have also not helped. And in case it is still unclear, the trend of New Jersey's ultra wealthy residents fleeing for more hospitable tax domiciles which started with David Tepper years ago, is now spreading to members of the middle class.
According to the latest data from United Van Lines and compiled by Bloomberg, people have been flooding into Vermont, Idaho, Oregon and South Carolina, eager to flee such financially-challenged, high-tax, protest-swept, Democrat-controlled states as Connecticut, Illinois and New York. But no other state has seen a greater exodus than New Jersey, where out of every 10 moves, 7 have been households leaving the state, or nearly three times as many moved out than moved in.
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
This blog post uses facts so out of context or overinterpreted it would take a commentary five times as long tor rebut all its "conclusions". For example, moves out of the "hated" state of NJ versus the loved state of Arkansas are 6.9 out of 10 moves that leave NJ versus 4.1 out 10 moves that leave Arkansas. Doesn't sound so catastrophic anymore, does it?
And then if were to calculate how many people move into NJ from other states and other countries planning to stay for a short period of time and then leave, I bet the difference vanishes. Now, I don't have these numbers, but I bet the number of people moving into Arkansas with the intent of staying only a short time because of the awesome job opportunities and lifestyle is close to zero. But for all of you who want to move to Arkansas, please, as they say, don't let the door hit you on the way out.
I've always been a geography nerd and am now an urban planning student at Bloustein. I currently have an internship with a county department where I am performing a lot of GIS work. I've never run into any zip related problems in my work, but you are right...
My grandmother has lived in the same house in Monroe Township (Middlesex County) since 1967. In the span of my lifetime (I'm a bit older than a traditional student) I'm pretty sure her mailing address has changed three times (due to the construction of a post office in Monroe) - from Jamesburg, to Spotswood, and finally Monroe.
What I've never been able to understand and still have a hard time wrapping my head around is the NY municipal level of government, and their system of "Towns" and "villages" (which exist within towns, but are separate government entities)...
Sometimes, but not always. Many times a pole number will end with the municipalities initials (HP, EB, etc) but its not always the case. Still a good point though, and not something that many people are aware of.
And the people who complain about the pensions complain that the ss returns are unfair for what you pay. They argue both sides on this.
Employees contribute more to the pension than they do social security. I always hear how if people could just invest their own social security themselves they would get 3 to 5 times more. Well that is what happens with the pension and those same people complain about it.
So what is it
Houses for sale in Bergen & other areas of North Jersey are receiving multiple offers & selling for above the asking price.
Let the old people retire and move out of New Jersey to allow the young families to move in. most old people can not afford to live in NJ.
Except the ones who CAN afford to live in new Jersey are the ones who are moving out.
We love that Italian joint next to Peddlers. I think it is called Villagio or something like that. Great place, we always look forward to it.
Yes, NJ schools districts need some serious consolidation!
+1
That's why tax increases on the "wealthy" never generate what they are projected to. People move.
Actually I think the USA is leading. What a deficit hole.
Not in my family, they all got lots of money and they don’t even think about taxes including the $1 additional gas tax. People that have money don’t worry about money.
How many millions can you give to the kids?
BrotherSkinny hasn’t answer why he still lives in NJ.
I'm going to organize a protest in front of your house, I'll borrow the antifa guillotine they have for Bezos
“ they all got lots of money “ ... tells me all we need to know.... did you go to Rutgers rutgersdave? Sure you did lol.
So pensioners will own the turnpike which just last week we were told would net a $17 billion profit after all debt was paid off. Add the Parkway and then lets discuss Island Beach State Park and Liberty Park in JC.
Also the State budget is 40 billion and only 14 billion is constitutionally mandated so that leaves $26 billion available to creditors.
In your fantasy land you forget that debtors do not call all the shots creditors have rights
Hey, I noticed that with all the crap about terrible Democrats cities in New Jersey I found three of the best cities/towns in NJ run by an entire Democratic town council: Princton, Montgomery Township and Morristown. I think someone is always bragging about Montgomery Township.
Even an MBA from Rutgers. Even my parents, who didn’t even go to college, were able to leave a couple millions to the kids.
. Towns born of privilege or so they tell us... add a few more but it’s not Newark , Irvington , Camden , Paterson so what’s the point? Until the others are like the first ones you clamored about don’t pound your chest.
This is just not true. The vast majority of government employees are in PERS - you cannot count overtime in calculating your final three year average.
Some law enforcement pension systems allowed that in NJ in the past - not sure if they still do. But the police pension is also the best funded.
Really ? “ they got lots of money “ ... MBA ...sure keep telling people that.
None in NJ but the Port Authority police can because they are in a pension that basically is the NY State pension
My son is an electrician and lives in Buckingham on the New Hope border. I fly up there every few months to visit. Big fan of the Wyck and Mad Princes Brewing. Nice area and close to RU.
No I ‘m better than doing well ... very well financially and emotionally... don’t flatter yourself ...
But David Tepper and others did. And your family can all be worth millions and combined be worth less than Tepper. He didn't worry about gas prices either.
Congrats to NJ! Dropped to #2.
nj1015.com
New Jersey falls to the #2 spot in people trying to escape
In an annual survey of states with the most outward bound moves, New Jersey has been consistently #1 for a few years.
One very simple reason, My entire family is still in NJ and that is the ONLY reason why. otherwise I would be out of here. I would miss my family and Rutgers football and not much else.
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