The Democratic Governor of New Jersey Phil Murphy unveiled his vision for the state’s proposed budget Wednesday; raising taxes on “everything” in a bid to save the Garden State from ballooning debt and massive budget deficits.
Murphy -the liberal politician who replaced outgoing governor and presidential nominee Chris Christie- plans to fund the state’s record-setting $37.4 billion budget by increasing taxes on nearly everything, including: gambling, ride-sharing services, marijuana, tobacco, online sales, retail sales, and more.
The budget also increases spending for education, transportation services, and state-wide pension funds.
“If we enact another budget like the one our administration inherited, our middle class will continue to be the ones shouldering the burden, while seeing little in return,” Murphy said Tuesday. “A millionaire’s tax is the right thing to do… and now is the time to do it.”
“The proposal, 4.2 percent higher than the current fiscal year’s, relies on a tax for the wealthiest that has yet to be approved and lacks support from key Democrats in the legislature,” writes Bloomberg. “It also reverses pledges from Murphy’s predecessor, Republican Chris Christie, to lower taxes in a state where living costs are among the nation’s highest.”
ARMAGEDDON CONTINUES: Chipotle Announces BIG BONUSES, MORE BENEFITS after GOP Tax Cuts
Nancy Pelosi and Chuck Schumer’s dire predictions of “doom and gloom” continued to unravel this week, with Mexican food giant Chipotle announcing big bonuses and expanded benefits for its workers in the aftermath of the GOP-led tax cuts.
Chipotle Mexican Grill announced the new policies Wednesday, saying the quick-service restaurant was “rolling out benefits” to all of its 71,000 employees; extending stock bonuses, cash payouts, as well as paid parental leave.
According to Fox Business, qualified hourly and full-time employees will receive a bonus of $1,000 with some eligible for stock bonuses and grants to buy-back into the corporation.
Chipotle cites the recently passed GOP tax cuts as a prime factor behind the revised compensation packages.
“Other offerings will include accelerated training programs, and additional paid parental leave for everyone, from hourly managers to salaried employees,” writes Fox. “The company also added life insurance and short-term disability insurance coverage for hourly restaurant managers.”
Chipotle joins a growing list of American-based corporations -such as AT&T, Disney, Starbucks, Walmart, Home Depot, UPS, Visa, and others- to pay out big bonuses and raise wages after President Trump signed the sweeping tax overhaul into law late last-year.
ARMAGEDDON CONTINUES: Pfizer to REINVEST BILLIONS in US Following GOP Tax Cuts
The liberal predictions of “doom and gloom” and “death and destruction” in the aftermath of the GOP tax cuts continued to evaporate on Tuesday, with pharmaceutical giant Pfizer announcing its plan to reinvest billions of dollars in the US economy following the sweeping tax legislation.
Pfizer now plans to repatriate tens of billions of dollars in profits back to the United States after the GOP plan slashed taxes on overseas holdings; finally allowing the New York-based corporation to bring those funds back to America.
“The drugmaker said Tuesday that it would pay $15 billion in so-called repatriation taxes over the next eight years to shift foreign earnings back to its home market. The exact amount the company plans to bring back was not immediately clear,” writes USA Today.
“The aspects of most importance to us were addressed in the new tax code, strengthening our ability to make capital allocation decisions that maximize patient benefit and enhance shareholder value,” said Pfizer’s Chief Financial Officer.
The announcement comes as other giant American-based companies -such as Walmart, AT&T, Disney, American Airlines, Starbucks, Home Depot, and more- unveil their plans to raise wages and pay big bonuses in the immediate aftermath of the GOP tax overhaul.