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Archive for June 25th, 2012

Albert Einstein once said that the definition of insanity is doing the same thing over and over again yet expecting different results. Well, this probably went without saying even before today, but it would appear that the New Jersey Assembly isn’t exactly populated with a bunch of Einsteins.

This afternoon, the Democratic-controlled Assembly took time away from dealing with that pesky Seaside shark issue and passed for the third time a  bill that would increase the personal income tax on those earning more than $1,000,000 by 1.78%, from the current 8.97% to a proposed 10.75%.

Governor Chris Christie squashed the first two passages with his veto power, and is sure to do the same again.

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Weekend Roundup

A few things you may have missed this weekend while 120 goalless minutes of Italy-England reminded you why you can’t embrace soccer:

Janet Novack over at Forbes discusses how the public’s waning confidence in Congress and other institutions has resulted in reduced participation in the stock market.

Chris Webber owes $100K in back taxes to California. In related news, Jimmy King owes $200 in payday loans to a local loan shark.

I know I said LAST week was the week…but this is the week we find out about Obamacare. I promise.

Before you decide to leap into the rental market by offering your luxury beach home to those nice boys from Alpha Beta for the week, give this WSJ article regarding the tax consequences of renting out your vacation home a read.

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