Re: Jersey City Council to introduce $587 million budget with zero tax increase

Posted by JPhurst on 2018/3/17 20:45:19

Monroe wrote:
And noted today that the top 3% earners pay an incredible 2/3 of NJ income taxes! Wanna take a guess where those people live? Not Newark, JC, Camden, or Paterson.

So what?

Income is taxed based on where it is earned, not what enclave the earner retreats to at night. I have a solo practice where I work in NYC but also work a lot from home in NJ. I have to allocate income based on where I earn it.

Some of those wealthy suburbanites, if they work in NYC, don't pay NJ state income tax at all.

Much more income tax and other revenues are generated in urban areas like Newark and Jersey City. Urban areas subsidize the suburbs.

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