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Tax Policy

Politics
Wealthy New Jerseyans Will Be Hit 2nd Hardest In U.S. By GOP Tax Bill Wealthy New Jerseyans Will Be Hit 2nd Hardest In U.S. By GOP Tax Bill
Wealthy New Jerseyans Will Be Hit 2nd Hardest In U.S. By GOP Tax Bill A new study finds that New Jersey has had the second most millionaires in the U.S. for the last seven years. The 2017 Phoenix Wealth & Affluent Monitor (W&AM) shows that as of mid-2017, the top 1 percent of U.S. households -- those having $5 million or more in investable assets or liquid wealth -- increased by eight percent to more than 1.1 million. The richest Americans are concentrated in states that were carried by Democrats in at least three of the last four presidential elections, according to the study.  That means that the GOP tax bill will have a greater impact on wealthy r…

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by Cecilia Levine