Oil nearly falls below $80 on oversupply

[BenedictGomez]

NJ has the second cheapest state gas tax in the U.S @ 14.5 cents per gallon. Only state cheaper is Alaska. On the other hand here in NY state gas tax is 49.9 cents per gallon. Cry me a river.

New Jersey is the highest taxed state in America, period. People are fleeing here in droves because they cannot afford the taxes. I think my entire High School graduating class is in the Carolinas. The Tax Foundation just released their annual report yesterday, and once again New Jersey came in 50th (i.e. last) place as "most taxed" in the nation. It's bad.

New Jersey loses again because the Garden State “suffers from some of the highest property tax burdens in the country, is one of just two states to levy both an inheritance and an estate tax, and maintains some of the worst structured individual income taxes in the country.......New York (and) New Jersey, the high-tax locales that once again finished 49th and 50th among the states. New Jersey eked out real GDP growth of 1.1% last year, while New York’s economy grew an anemic 0.7%.”

http://online.wsj.com/articles/states-of-taxation-1414451028

 

[steamboat1]

New Jersey is the highest taxed state in America, period. People are fleeing here in droves because they cannot afford the taxes. I think my entire High School graduating class is in the Carolinas. The Tax Foundation just released their annual report yesterday, and once again New Jersey came in 50th (i.e. last) place as "most taxed" in the nation. It's bad.

http://online.wsj.com/articles/states-of-taxation-1414451028

Believe it or not here in NYC property taxes are actually quite low. Long Island & Westchester is another story.

 

[Domeskier]

Believe it or not here in NYC property taxes are actually quite low. Long Island & Westchester is another story.

It's generally a wash when you take into account the city income tax.

 

[HowieT2]

New Jersey is the highest taxed state in America, period. People are fleeing here in droves because they cannot afford the taxes. I think my entire High School graduating class is in the Carolinas. The Tax Foundation just released their annual report yesterday, and once again New Jersey came in 50th (i.e. last) place as "most taxed" in the nation. It's bad.



http://online.wsj.com/articles/states-of-taxation-1414451028

NJ is heavily taxed, but that is not necessarily why people are leaving the state. NYC is part of NYS which is also heavily taxed and its population is growing significantly.

 

[steamboat1]

It's generally a wash when you take into account the city income tax.

How so? Generally NJ municiple income tax rates are significantly higher than NYC.

 

[BenedictGomez]

NJ is heavily taxed, but that is not necessarily why people are leaving the state. NYC is part of NYS which is also heavily taxed and its population is growing significantly.

It's largely the taxes. There's a good correlation with cost of living and migration. Is it the only thing that matters? Well, of course not, but if you look at a map of America based off census data married with taxes, it becomes pretty clear (see below, Green are "gaining" citizens, Red are "losing" people).

And this trend of "financial migration" in America is substantially heating up (i.e. it seems to be more a factor now than in year's past, perhaps due to the recession or perhaps because high taxes have hit a critical mass?).

 

[Domeskier]

How so? Generally NJ municiple income tax rates are significantly higher than NYC.

Most NJ towns do not have an income tax on top of property taxes. NJ municipal property taxes are roughly equal to NYC income tax plus property taxes.

 

[HowieT2]

It's largely the taxes. There's a good correlation with cost of living and migration. Is it the only thing that matters? Well, of course not, but if you look at a map of America based off census data married with taxes, it becomes pretty clear (see below, Green are "gaining" citizens, Red are "losing" people).

And this trend of "financial migration" in America is substantially heating up (i.e. it seems to be more a factor now than in year's past, perhaps due to the recession or perhaps because high taxes have hit a critical mass?).

just because you say so, does not make it so. and when is that graph from because I question its accuracy.

 

[BenedictGomez]

just because you say so, does not make it so.

and when is that graph from because I question its accuracy.

Ehhhhh......okay.....well, it's from 2010 (i.e. the last US census).

In terms of it's "accuracy", I cant help you there. You'll have to take that up with the IRS Division of Statistics & the US Census Bureau.

 

[Puck it]

Ehhhhh......okay.....well, it's from 2010 (i.e. the last US census).

In terms of it's "accuracy", I cant help you there. You'll have to take that up with the IRS Division of Statistics & the US Census Bureau.

And you believe the IRS. I see his point.

 

[BenedictGomez]

And you believe the IRS. I see his point.

I mean, sure we now know they targeted groups for "extra" levels of scrutiny based on their political views, but they didn't outright manipulate the raw data.

Or DID they!?!?!? (with menacing music playing in background, dun, dun, dun, dun)

 

[Mariovntr]

It's largely the taxes. There's a good correlation with cost of living and migration. Is it the only thing that matters? Well, of course not, but if you look at a map of America based off census data married with taxes, it becomes pretty clear (see below, Green are "gaining" citizens, Red are "losing" people).

And this trend of "financial migration" in America is substantially heating up (i.e. it seems to be more a factor now than in year's past, perhaps due to the recession or perhaps because high taxes have hit a critical mass?).

Ohio: Very low taxes, low cost of living and regulation is minimal compared to states like California, Jersey, Maryland and New York. So "perhaps", your thinking or reasoning is flawed.

Personally, I'd love to blame a lot of the tax and cost of living issues on Liberal Agendas and Democrats, but it doesn't work like that. Ohio is a fairly Conservative state and there are definitely other outliers driving the migration from the states in red.

 

[Harvey]

We're screwed once Christie leaves office.

Christie certainly has the common man's best interest at heart. But look on the bright side maybe he'll be your next president.

 

[BenedictGomez]

Ohio: Very low taxes, low cost of living and regulation is minimal compared to states like California, Jersey, Maryland and New York. So "perhaps", your thinking or reasoning is flawed.

As I said before in this thread, it's obviously not the only thing that drives people's decision to move to/from one state to another.

However, just for fun, lets assume I did say exactly that......... the fact that you could pick out an example that doesn't conform perfectly to the IRS statistics, doesn't invalidate the entire depiction of the IRS/Census data pull. I think any fair-minded person who takes a good hard look at that map (assuming they're well-informed about relative taxation rates as well as cost of living by state) would be pretty struck by just how tight of a correlation it depicts. Outliers? Sure. But for the most part it's pretty darn good.

So why are people leaving Ohio? I don't know. If I had to speculate I'd say it's due to the fact that Ohio has been ravaged by the decline of manufacturing jobs for the last few decades, and the collapse of the US auto industry. It's made a bit of a comeback recently, but that state experienced a LOT of job loss in the last 10 or so years.

Ohio is a fairly Conservative state .

Ohio is a very moderate state that voted for Obama twice, Bush twice, Clinton twice, Reagan twice, and Carter.

It's about as purple as a state can possibly get, perhaps the most purple state in all of America, but either way, it's certainly not a "conservative" state.

 

[Harvey]

So Ohio voted "correctly" every time? That's interesting. Any other states do that?

 

[BenedictGomez]

Christie certainly has the common man's best interest at heart. But look on the bright side maybe he'll be your next president.

I am not a huge Christie fan myself, nor am I a Christie hater either. He's an effective leader, but his #1 concern is Chris Christie.

What I meant by that comment wasn't so much anything good Christie can do or has done, but all of the bad stuff that Christie has blocked since he's been in office.

All the proposed (additional) economic horrors and additional tax increases that Christie regularly tosses into the trash bin get enacted into law the first year he's gone from office, because the entire government of NJ is Democrat. Even higher taxes, even more job loss, even less personal freedom, all coming to New Jersey in a few years.

That will be it for me, the final straw. I'll join the rest of my High School class and move......perhaps over the river. Uncertain.

So Ohio voted "correctly" every time? That's interesting. Any other states do that?

I dont know. I do know they're the current record holder though. IIRC, I think it even goes all the way back to the 1960s.....Kennedy maybe?

 

[HowieT2]

Christie certainly has the common man's best interest at heart. But look on the bright side maybe he'll be your next president.

are you joking???
I really try to avoid these kind of discussions, but that is a bridge too far (no pun intended). you do realize, he stole 3B dollars set aside for the rail tunnel to nyc to balance the operating budget, not to mention the other billions he took from the PA to pay for state projects. He's a fraud of epic proportions.

 

[Not Sure]

I am not a huge Christie fan myself, nor am I a Christie hater either. He's an effective leader, but his #1 concern is Chris Christie.

What I meant by that comment wasn't so much anything good Christie can do or has done, but all of the bad stuff that Christie has blocked since he's been in office.

All the proposed (additional) economic horrors and additional tax increases that Christie regularly tosses into the trash bin get enacted into law the first year he's gone from office, because the entire government of NJ is Democrat. Even higher taxes, even more job loss, even less personal freedom, all coming to New Jersey in a few years.

That will be it for me, the final straw. I'll join the rest of my High School class and move......perhaps over the river. Uncertain.



I dont know. I do know they're the current record holder though. IIRC, I think it even goes all the way back to the 1960s.....Kennedy maybe?

Well ...Northampton Co. is much closer to Blue Mountain...on the border.

 

[Harvey]

are you joking???

Yes.

 

[BenedictGomez]

he stole 3B dollars set aside for the rail tunnel to nyc

Thank GOD that rail tunnel didn't get built. What an EPIC boondoggle that was going to be,. It would have made Boston's Big Dig look like a Girl Scout Cookie bake sale. As I said, I'm not a huge CC fan, but that's one of my favorite things he did.

And even if you pretend NONE of the above were true, WTH should a preponderance of New Jersey citizens have to massively pay for one of the largest expenses in the history of the state that so relatively few would utilize? Good grief, of all the things people could single out, that's the last one I'd criticize him for. The reality is the New Jersey State Democratic Party was butthurt because they lost out on Billions (literally) of dollars in handouts and political payoffs to their friends, their political cronies, and most of all, the Unions who would have profited the most.