What Constitutes A Millionaire In New Jersey? - My9 New Jersey

What Constitutes A Millionaire In New Jersey?

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Trenton, New Jersey (My9NJ) -

The Democratic leadership of the New Jersey legislature proposed a new millionaire’s tax, but they can’t seem to decide exactly what the definition of a millionaire is.

While Assembly Speaker Vincent Prieto feels a millionaire is someone who makes a million dollars or more a year, Senate President Steve Sweeney seems to think it’s anyone who makes $500,000 or more a year. Now, Senator Ray Lesniak believes that a millionaire in the Garden State is someone making $350,000 a year.

New Jersey Now host Jim McQueeny chimed in on this ongoing debate.

“Everyone is New Jersey must feel really great about this debate to know how close they are to being a millionaire,” he joked.

Many feel like this debate is just a result of Governor Christie overestimating the state’s budget resulting in an $800 million deficit that he is scouring to try and fix.

“It’s the governor who misread and underestimated how much money he was really gonna get out of this thing. He’s a little bit now like the arsonist complaining about burnt fingers,” McQueeny said.

 

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