Liberal States

[SHUHoopsFan]

Great segment with Kevin O'Leary saying where liberal states are heading from a jobs perspective.

 

[Merge]

Great segment with Kevin O'Leary saying where liberal states are heading from a jobs perspective.

Rubin is posting a clip which is a year and a half old like it's new.

So what happened since then? Did liberal state employment collapse? No
Decrease? No.

For comparison sake, since that clip aired "uninvestable" NY employment increased 2.5%, out of business California increase by 2.7% Florida employment increased by 3.1% and North Dakota increased by 1.5%.

He's an entertaining businessman pushing for cheaper taxes and less regulations because that helps him.

 

[SHUHoopsFan]

He's an entertaining businessman pushing for cheaper taxes and less regulations because that helps him.

That's how big money works. They're looking out for themselves. Clearly this is a man who likes to invest and not sit on his money for himself. So the more he makes the more he's looking for opportunities to invest which creates jobs.

 

[Merge]

That's how big money works. They're looking out for themselves. Clearly this is a man who likes to invest and not sit on his money for himself. So the more he makes the more he's looking for opportunities to invest which creates jobs.

Just saying the anti blue state argument doesn't really hold water here. Higher taxes and more regulations were always a part of blue states when there were economic booms. That doesn't mean hire taxes and regulations are always good just that each state needs to manage what is right for them.

You would need to look at what each state is doing. Like in NJ with the digital media tax credit, Christie let it expire but Murphy added it back to create the incentive for TV shows / movies etc. to be filmed in NJ which ultimately helped us get the Netflix deal done. That will create thousands of jobs and bring billions to the state. It's not a red/blue issue. It's more of a leadership issue. If there was no growth in NJ and we weren't doing anything to help attract business then that would be a problem with the leadership of the state.

 

[NYShoreGuy]

Just saying the anti blue state argument doesn't really hold water here. Higher taxes and more regulations were always a part of blue states when there were economic booms. That doesn't mean hire taxes and regulations are always good just that each state needs to manage what is right for them.

You would need to look at what each state is doing. Like in NJ with the digital media tax credit, Christie let it expire but Murphy added it back to create the incentive for TV shows / movies etc. to be filmed in NJ which ultimately helped us get the Netflix deal done. That will create thousands of jobs and bring billions to the state. It's not a red/blue issue. It's more of a leadership issue. If there was no growth in NJ and we weren't doing anything to help attract business then that would be a problem with the leadership of the state.

NJEDA recently posted for director position for motion picture and TV

 

[SHUHoopsFan]

Just saying the anti blue state argument doesn't really hold water here. Higher taxes and more regulations were always a part of blue states when there were economic booms. That doesn't mean hire taxes and regulations are always good just that each state needs to manage what is right for them.

You would need to look at what each state is doing. Like in NJ with the digital media tax credit, Christie let it expire but Murphy added it back to create the incentive for TV shows / movies etc. to be filmed in NJ which ultimately helped us get the Netflix deal done. That will create thousands of jobs and bring billions to the state. It's not a red/blue issue. It's more of a leadership issue. If there was no growth in NJ and we weren't doing anything to help attract business then that would be a problem with the leadership of the state.

Businesses will leave NJ if they face more corporate taxes — even to bail out NJ Transit

Despite the proposed tax hike and the new fare hikes, it is still unclear whether NJ Transit will be able to balance its own books.

www.northjersey.com

Isn't there a tax now on highly profitable companies to fund NJ Transit?

 

[Merge]

Isn't there a tax now on highly profitable companies to fund NJ Transit?

Some small additional context.
There was a 2.5% tax which expired this year on business with more than $1M in revenue.. That is now being replaced by a 2.5% tax on businesses with more than $10M in revenue.

So it's not as much as an increase as it is reversing the decrease that was expected for companies with more than $10M in revenue.

 

[SHUHoopsFan]

Some small additional context.
There was a 2.5% tax which expired this year on business with more than $1M in revenue.. That is now being replaced by a 2.5% tax on businesses with more than $10M in revenue.

So it's not as much as an increase as it is reversing the decrease that was expected for companies with more than $10M in revenue.

Another tax expiring doesn't impact what O'Leary is saying. He's saying we're taxing corporations here for things that they wouldn't be taxed on in other states. Are these additional taxes on businesses in other states? Number of Fortune 500 companies that call NJ home isn't growing.

 

[Merge]

Are these additional taxes on businesses in other states?

Well, yeah. All kinds of different ways to tax in various states. It's basically another bracket. Many states do that.
I'm also not arguing we're the best btw... I'm just arguing against O'Leary's analysis because it it's not really accurate.

Number of Fortune 500 companies that call NJ home isn't growing.

Correct. We lost Toys-R-Us and Bed Bath and Beyond due to bankruptcy.
Wyndham fell out, Celgene was purchase. It's not all because of taxes.

We did lose two big ones though, Honeywell and NRG. We offered them all kids of tax credits to stay but it wasn't enough.