When Is $1 Million not $1 Million?

For a number of years recently, the idea of imposing an additional tax on incomes over $1 million was all the rage across the political landscape. A handful of states – notably California in 2012, followed by Connecticut and New York along with Washington DC were quick to impose the new tax on “millionaires”. More…

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New Jersey Governor Files Millionaire Tax Again

New Jersey Governor Philip Murphy, who in each of his two prior years in the corner office has proposed an additional surcharge on incomes in excess of $1 Million, has done it again. Murphy submitted a $40.9 billion budget to the New Jersey legislature this week, and included some $494 million in new revenue generated…

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Voters Guard Against Other Taxes

Maine voters rejected applying another surcharge to certain individual incomes. By a lopsided margin of 63-37%, voters rejected the idea of authorizing an additional 3.8% surcharge on incomes over $128,400 per year. The revenues generated would have funded the provision of “free” in-home care for the state’s elderly and disabled residents, regardless of their need…

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Minimum Wage Goes Global

Yes, there is an international angle regarding minimum wage mandates that we want to get to, but let’s update American issues first. At the federal level, the National Urban League, which is an advocacy organization for urban communities across the country, released its annual State of Black America Report earlier this week. The report, which…

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Extending, Expanding New York Millionaire’s Tax

New York so-called “millionaire’s tax” was first adopted back in 2009 and renewed two years later in 2011. It is set to expire at the end of this year, so the effort has already begun – not just to extend the expiration date (another three year extension of the 8-year old tax), but also to…

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How About a Mulligan?

As the dust settles from the November elections and new legislatures begin to take office, some seem to want to take a second look at what voters did on individual ballot initiatives.  One case in point is the state of Maine, where the voters approved a dramatic increase in the state minimum wage as well…

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