{"id":1452,"date":"2023-11-30T00:00:00","date_gmt":"2023-11-30T04:00:00","guid":{"rendered":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/?p=1452"},"modified":"2024-11-11T15:47:29","modified_gmt":"2024-11-11T19:47:29","slug":"star-ledger-seeks-to-assure-that-there-is-no-such-thing-as-a-temporary-tax-increase","status":"publish","type":"post","link":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/2023\/11\/30\/star-ledger-seeks-to-assure-that-there-is-no-such-thing-as-a-temporary-tax-increase\/","title":{"rendered":"Star-Ledger Seeks to Assure that There is no Such Thing as a Temporary Tax Increase."},"content":{"rendered":"\n

It appears that the Star-Ledger<\/em> Editorial Board firmly believes in the First of the Ferengi Rules of Acquisition: “Once you have their money, you never give it back.” They are very upset that New Jersey would keep its word that a “temporary” tax increase should be allowed to expire, albeit a few years late. The case in point is the surcharge in the corporate business tax which the Star-Ledger<\/em> now seeks to extend and dedicate to NJ Transit<\/a>.1<\/a><\/sup><\/p>\n\n\n\n

Apparently, NJ Transit is the budgetary equivalent of the U.S. Postal Service in that it costs more to run than it can generate in charges for its service. (Shockingly, fares only account for 42% of its revenue but, the editorial explains, higher fares will mean fewer riders; a situation with which newspapers have become familiar<\/a>.)<\/p>\n\n\n\n

The editorial justifies the tax increase (I’m sorry, it just extends a prior increase, so it’s not a new one2<\/a><\/sup>) by saying it only affects 2% of all businesses in New Jersey or, as Peter Chen remarks, they will only pay “a little” more in taxes. It’s all one big “someone else is paying<\/a>” argument.<\/p>\n\n\n\n

Jay Bohn<\/p>\n\n\n\n

November 30, 2023<\/p>\n\n\n

  1. A few months ago, I posted<\/a> about Tom Moran’s editorial advocating the extension. It was also mentioned in an October post<\/a>. \u21a9\ufe0e<\/a><\/li>
  2. This is in effect one of the arguments. The Star-Ledger<\/em> quotes Democratic candidate for governor Steve Fulop as arguing that the surcharge should be continued “because it\u2019s been normalized within the balance sheets of these companies after having it for four years.” \u21a9\ufe0e<\/a><\/li><\/ol>","protected":false},"excerpt":{"rendered":"

    It appears that the Star-Ledger Editorial Board firmly believes in the First of the Ferengi Rules of Acquisition: “Once you have their money, you never give it back.” They are very upset that New Jersey would keep its word that a “temporary” tax increase should be allowed to expire, albeit a few years late. The … Continue reading “Star-Ledger Seeks to Assure that There is no Such Thing as a Temporary Tax Increase.”<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"[{\"content\":\"A few months ago, I posted<\/a> about Tom Moran's editorial advocating the extension. It was also mentioned in an October post<\/a>.\",\"id\":\"3edc2380-50ba-4b56-8403-67c4bd91c025\"},{\"content\":\"This is in effect one of the arguments. The Star-Ledger<\/em> quotes Democratic candidate for governor Steve Fulop as arguing that the surcharge should be continued \\\"because it\u2019s been normalized within the balance sheets of these companies after having it for four years.\\\"\",\"id\":\"c69e1242-1aae-4453-8050-e8a87ca14522\"}]"},"categories":[4],"tags":[],"class_list":["post-1452","post","type-post","status-publish","format-standard","hentry","category-government"],"_links":{"self":[{"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/posts\/1452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/comments?post=1452"}],"version-history":[{"count":5,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/posts\/1452\/revisions"}],"predecessor-version":[{"id":1708,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/posts\/1452\/revisions\/1708"}],"wp:attachment":[{"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/media?parent=1452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/categories?post=1452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bohn.org\/wpmocha\/peanutgallery\/wp-json\/wp\/v2\/tags?post=1452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}