Dear Governor Corzine

Dear Governor Jon Corzine,

Please reconsider closing some of the State Parks, and please reconsider some of the proposed cutbacks in the State Budget to the disabled. Perhaps proposing and instituting a net asset tax on wealthy individuals, and a net asset tax on wealthy businesses and organizations would generate sufficient money so that the closings and cutbacks would not have to take place. The net asset tax on wealthy individuals would be as follows: there would be a standard deduction for oneself, and a spouse (if applicable) of $5.5 million each. There would be a $1.65 million deduction for each dependent, under 19 years old, living at home. Only those individuals with net assets, after deductions, of $35 million would owe any taxes (at .5%). Those having over $126 million would be taxed at a higher rate (at 1%), and those having over $453.6 million would be taxed at the highest rate (at 1.25%).
Net Assets - / - Tax
$35 million - $126 million : .5% (half a percent)
$126 million - 453.6 million : $455,000 plus 1% over $126 million
over $453.6 million : $3,731,000 plus 1.25% over $453.6 mil.

For the net asset tax on wealthy businesses and organizations there would be a standard deduction of $92 million, plus a $179,000/employee deduction. Also, all pension assets would be deductible. The net asset tax on wealthy businesses and organizations would look something like:
Net Assets - / - Tax
$252 million - $907.2 million : .5% (half a percent)
$907.2 million - $3,265,920,000 : $3.276 million plus 1% over $907.2 mil.
over $3,265,920,000 : $26,863,200 plus 1.25% over $3,265,920,000

The tax could be instituted so that after nine years it would no longer exist, and also the deductions could be automatically increased each year by 33%. By increasing the deductions each year by 33% some individuals/businesses/organizations would end up having only to pay the net asset tax maybe in the first, and second year of existence.
I urge you Governor Corzine, to propose and support a net asset tax on wealthy individuals, and on wealthy businesses and organizations like I have suggested. Please reconsider the closing of State Parks and the proposed cutbacks to the disabled in the State Budget. Thank you very much for your time and consideration.
May the good Lord bless you and the loved ones, and grant you much wisdom at this time.

Sincerely,



A concerned citizen