To: The New Jersey State House and The New Jersey State Senate
Stop the Repeal of the NJ Estate Tax!
It's outrageous to pay off the rich just to pass greatly needed legislation to repair our roads, support public transit, and fight global warming. The repeal of New Jersey's Estate Tax must be stopped. The Transportation Trust Fund bill should be passed, but only after Estate Tax repeal is removed from it.
Why is this important?
New Jersey urgently needs money for roads and public transportation, and raising our carbon fuels (gasoline) tax is a good way to do it because that will also aid the effort to fight climate change.
However, the current package to finance the Transportation Trust Fund (TTF) includes the complete repeal of New Jersey's Estate Tax. This is a complete sell-out to the rich that will increase economic inequality. Estate Taxes are progressive, as only the richest pay them. Gasoline Taxes are regressive, as the less money you have the bigger the portion of your income they consume.
It is hardly fairness to give the rich tax relief in exchange for imposing a tax that they will hardly notice but the poorest will. It is hardly fairness to use taxes to increase economic inequality when taxes should be used to decrease economic inequality.
Our Democratic leadership in the legislature, Sweeney and Prieto, should be ashamed of themselves for succumbing to this blackmail by the rich.
The rest of the TTF package is fine, but the Estate Tax repeal must be stopped. It is too high a price to pay. It will rob too many dollars from the General Fund and reward Christie's obstruction of good government for the sake of the richest.
We need to tax the rich to give to the poor - not the other way around.
However, the current package to finance the Transportation Trust Fund (TTF) includes the complete repeal of New Jersey's Estate Tax. This is a complete sell-out to the rich that will increase economic inequality. Estate Taxes are progressive, as only the richest pay them. Gasoline Taxes are regressive, as the less money you have the bigger the portion of your income they consume.
It is hardly fairness to give the rich tax relief in exchange for imposing a tax that they will hardly notice but the poorest will. It is hardly fairness to use taxes to increase economic inequality when taxes should be used to decrease economic inequality.
Our Democratic leadership in the legislature, Sweeney and Prieto, should be ashamed of themselves for succumbing to this blackmail by the rich.
The rest of the TTF package is fine, but the Estate Tax repeal must be stopped. It is too high a price to pay. It will rob too many dollars from the General Fund and reward Christie's obstruction of good government for the sake of the richest.
We need to tax the rich to give to the poor - not the other way around.