As Inflation Skyrockets, This NJ Bill Aims To Prevent Hidden Tax Hikes
- The bill would combat what’s known as a “stealth tax increase” or “tax bracket creep.”
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Jack Slocum, Patch Staff
Posted Fri, May 15, 2026 at 11:40 am ET
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Senate Republican Leader Anthony M. Bucco (R-Morris, Passaic) has introduced bipartisan legislation that would index New Jersey’s gross income tax brackets annually for inflation, consistent with the federal government’s policies.
As inflation hits 3.8 percent, the highest it’s been since 2023, many salaried or fixed-income residents may see an increase in funds to account for rising costs. However, this could propel them into another tax bracket, effectively forcing them to pay more in taxes while having the same buying power as before.
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Why is there no more “penny candy”, “nickel cigars”, “dime comic books”, or “quarter a gallon gas”?
Answer: It’s the FED and the Federal Gooferment’s spending.
It you go back to “Robinson Caruso’s island”, them you’d realize that when the banker comes and makes paper money, there is no limit to how much that banner issues regardless of how many coconuts he has in his cave. (Yeah yeah, go back to the old goldsmiths that gave more receipts for gold ounces on deposit with them than they have in their vault. On the theory, that no one would ever realize the fact. A “run on the bank” is when “We, The Sheeple” realize the fraud and rush to withdraw their gold before it’s all gone. Sigh! Rubes!). Today’s banks are the same type of Ponzi scheme except the Gooferment “guarantees” deposits. Just wait until the “run” happens and you’ll find out just how few of the paper dollars a branch has!
Go watch “It’s a Wonderful Life”. The movie illustrates the concept of fractional reserve lending and the potential consequences of a loss of confidence in a bank.
Now translate it today, when there is no “George Bailey” to save your bank (i.e., the savings and loan).
There is a reason that survivalists don’t trust “banks” and save in “beans, bullets, band aid, and bullion”. (And maybe ₿ aka bitcoin!)
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Reinke Faces Life 