How dare someone work hard, have special talents, and become successful?! This must be the thought that echoes in Phil Murphy’s mind since the day he became governor. For a multimillionaire himself made playing with other people’s money at Goldman Sachs all those years he must be a self-loathing success. Rich white man’s guilt. I’m having none of it.

He has been wanting a millionaires tax since he took office and he’s finally getting it. Of course this took an economic catastrophe brought about by a pandemic to achieve. Even fellow Democrats had pushed back and squashed this bad idea in the past but they’ve now struck a deal.

Dollars earned between $1 million and $5 million will go from an income tax rate of 8.97% to 10.75%. According to someone earning $2 million will have to choke up an additional $18,000 in taxes and someone making $4 million would owe $71,000 more than the too much they’re already being taxed.

Now here’s the crazy part.

The quid pro quo to get this deal done turns this whole charade into a Robin Hood tale. The money brought in by tax hike is estimated at $390 million. But in exchange households with incomes below $150,000 and at least one kid will get a rebate check for $500. That trade-off has a price tag of $350 million.

So this Robin Hood plan of stealing from the rich and giving to not only the poor but also the middle class ends up only bringing in $40 million additional when all is said and done? If they think millionaires won’t be moved to leave New Jersey I want some of what they’re smoking. How is this possibly good for the already battered economy to put successful business people in a position where moving away from New Jersey is more desirable than staying? Yet this Robin Hood governor thinks $72 million should be spent on his baby bonds scheme in this year’s budget? Are you kidding me?

This is an awful plan. And I don’t want to see Phil Murphy in tights.

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