Wealth Redistribution A Reality: New Jersey Governor Proposes Tax Penalty For Rich | WHAT REALLY HAPPENED

Wealth Redistribution A Reality: New Jersey Governor Proposes Tax Penalty For Rich

The governor of New Jersey is threatening the economy of the state with a new tax that can scare away much of the upper class living in the Garden state.

High-earning New Jersey residents will face an increased “millionaires tax” under a new budget deal announced Thursday, despite warnings from critics that it could lead the wealthy to flee the Garden State.

The agreement which Gov. Phil Murphy touted as providing “middle-class tax relief and tax fairness” , also includes a $500 rebate for two-parent families with at least one child and annual income below $150,000, according to reports.

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