Did you know a "wealth proceed tax" may soon be in your future?

New Jersey uses the taxes it collects to redistribute “wealth” based on income in order to balance what Democrats see as “income inequality.” What Democrats consider to be “high-income earners” face targeted taxes. In addition, local property taxes disproportionately impact middle-income families.

I will make you a prediction . . . more taxes targeted on (your) “wealth” are in the making.

New Jersey Democrats have a solution to their huge deficits . . . they want to tax wealth, not just income. Income is the money paid to a household, such as wages or salary, interest, or business profits. Wealth is the total value of all a household’s assets minus its debts, including the value of real estate, stocks, investments, and trusts, while subtracting debt such as mortgages or student loans. Imagine trying to figure that out!

New Jersey has not yet instituted a formal wealth tax, but progressive groups and Democratic policymakers are actively lobbying for a “wealth proceeds tax.” This is the Democrats’ Nuclear Option . . . the biggest tax bomb imaginable.

How else are they going to fix NJ’s structural deficit? Or repay $209.5 billion in debt?

While nothing has been passed into law so far, I believe it is only a matter of time. Should we reward Democrats for this by electing them to run our town? I vote no.

Vote for Paul Humbert for Bernards Township Committee!