APP: Federal tax lien on Middletown official's home: Thoughts

The Asbury Park Press, on December 1st ran an article"Middletown official's home up for sheriff's sale", where we found out that Middletown Committeewoman Stephanie Murray's home was scheduled to be auctioned off in an upcoming sheriff's sale. On Tuesday, December 13th, The APP ran a follow-up article "Federal tax lien on Middletown official's home" where we found out that the reason for the sheriff's sale was for unpaid income taxes.

Stephanie Murray

The APP and it's reporter, Russ Zimmer, had gotten some pretty nasty comments in response to the two articles.  There are some that think the articles single out the Murray's just because Stephanie Murray is a public servant; they feel that it's a private matter and shouldn't be discussed in public. Many others think that someone that falls on hard financial times shouldn't be ridiculed.

If this was a case of actual hard times for the Murray family I'd agree. If Kenneth Murray had lost his job at the Manhattan law firm which he happens to be a partner in or their financial problems had been the result of some unforeseen tragedy or event then I would whole-heartedly agree; this would be a private matter and off limits. But it's not.

The IRS doesn't just place liens on peoples properties for nothing. Here the agency has placed a tax lien on the Murray's property of $78,000 for unpaid Federal income taxes!

A Federal tax lien is put in place when an individual does not report income. Assuming that the Murray's tax bracket falls at 33% that would mean that they did not report ~ $236,000 of income.

That's a lot of money and this shouldn't be taken lightly.

As I stated before, Stephanie Murray is up for re-election next year. If she can't handle her own finances, how on earth can we trust her with ours?

Middletown Police Warn Citizens About Scams

From Middletown Alerts:

The Middletown Police Department has issued a warning to its citizens about recent phone scams that have been occurring. Police have been receiving complaints about the following scams:

JCP&L scam: Residents and business owners have been receiving calls from persons fraudulently representing themselves as employees of the Jersey Central Power and Light Company. The caller informs the victim that they owe money on their electric bill and if they don’t pay their electric will be turned off.

The caller then advises the victim to purchase Green Dot Money Packs and to call back and provide the caller with the serial numbers of the Green Dot Cards which enables the caller to obtain the money from the cards. When the victim calls back the caller does answer the phone JCP&L. However, they are not employees of the company.

Residents are advised that they do not purchase the Green Dots Cards or provide information to anyone who calls over the phone without confirming their identity. Residents should contact JCP&L directly if they have any questions regarding their bill or if they believe they owe money.

Microsoft scam: This scam involves a caller contacting victims and advising them that they are receiving error reports from the victim’s computer at the Microsoft help center. They then ask residents to allow them to remotely access their computer. This enables them to gain access to all the personal and financial information contained in the computer.

Residents are advised not to provide any personal information over the phone or to allow anyone to access their computer. Microsoft has no way to know you are having computer problems unless you personally contact them.

IRS scam: This scam involves a caller contacting a victim and advising them that they owe money from their tax returns. The caller then advises the victim to purchase money orders and provides an address to mail the alleged owed funds.

The IRS does not contact persons delinquent on their taxes over the phone. Please do not provide any information to anyone claiming to be from the IRS over the phone and do not mail them money orders. Contact the IRS directly if you have any concerns about your tax returns.

Grandparents scam: This scam involves a caller contacting an elderly resident and pretending to be their grandchild. They advise the caller that they have been arrested (normally in a foreign country or out of state) and request that the victim wire them bail money.

Please do not wire anyone money who calls over the phone. If you have a concern that a grandchild has been legitimately arrested contact them direct and verify.

Police advise residents to take extra caution in speaking with callers over the phone. Residents should contact companies directly if they have any concerns and should be suspicious of anyone asking for money over the phone. Residents who believe they are victims of any scam should report it to their local police department who can provide further guidance.

What Money Shouldn't Buy

The following is from Congressman Rush Holt's newsletter:



To be rich in the United States of America is to be privileged in many ways. But it should not mean that you can buy a privileged place in our democracy.

Yet on Wednesday (4/2/14), the Supreme Court offered the very wealthy a way to do precisely that. In a controversial, deeply divided opinion, the justices struck down individual limits on aggregate financial contributions in federal elections.

What does this mean? Under the law as it existed until Wednesday, an individual donor could give up to $123,200 to candidates and party organizations in a single election cycle. That cap was roughly equal to eight years of earnings for a full-time minimum-wage worker, or nearly three years of earnings for the typical American worker. Yet the Supreme Court struck down even that very generous cap, meaning that the voices of very privileged Americans will now become even louder – drowning out the voices of everyone else.

It is madness to say, as the Supreme Court did, in effect, that big money in campaigns has no undemocratic effect if it is not used in direct, corrupt buying of legislators’ votes. Our democracy does not need the granting of even more power and influence to the already-privileged.

A better way forward is the public financing of elections. There are several examples of functioning public financing systems across America, including here in New Jersey. For federal elections, I support the Fair Elections Now Act, which would leverage small dollar contributions by providing a 4 to 1 federal match of contributions of $100 or less. I also support the Government by the People Act, which would provide a 9 to 1 federal match of contributions of $50 or less for candidates who refuse to accept money from PACs. Rather than amplifying the voices of the already-privileged, these bills would amplify the voices of ordinary people.

The first bill I ever cosponsored in Congress focused on campaign finance reform. Yet as this week’s news demonstrates, the work of protecting the integrity of our elections is never done.

Further Details on Grandfathered Flood Insurance Rates

President Obama recently signed into law the Homeowner Flood Insurance Affordability Act, which will help reform the National Flood Insurance Program to avoid enormous premium increases. In an eGenda following House passage in early March, I noted, “The legislation also restores “grandfathered” rates for homes and businesses that were remapped into higher-risk areas.”

A few readers requested further details. Properties that benefited from “grandfathered” rates will be allowed to continue paying their lower premiums for their flood insurance policies. For properties being newly mapped into areas with special flood hazards they will – for one year – be permitted to pay a lower-cost preferred risk premium, before gradual increases within the caps established by the law are allowed to take effect.

We are a nation exposed to ever greater flood risk, and flood insurance premiums will continue to reflect that risk. It is my hope that the reforms that have now been signed into law will provide certainty and affordability to property owners as we continue to plan for a changing climate.

Working for You

Recently I heard from a West Windsor woman who was being repeatedly contacted by the IRS about a tax liability – even though she had already paid the amount due. On her behalf, I contacted the New Jersey Local Taxpayer Advocate, and the problem was quickly resolved.

Have you encountered a similar problem with the IRS, a passport center, the VA, Social Security, Medicare, or any other federal agency? If so, please call me at 1-87-RUSH-HOLT or by sending an e-mail. I’ll do all I can to address your problem.

As the April 15th tax filing deadline approaches, you may also be interested in assistance in completing your tax return. A list of venues in New Jersey that offer free tax filing assistance is available online.

Sincerely,

Rush Holt
Member of Congress

To Be Old Was To Be Destitute

The following is from Congressman Rush Holt's newsletter:

Earlier this week, I joined the AARP and several thousand area residents for a wide-ranging conversation about Social Security, Medicare, and other issues of concern to seniors in New Jersey.  A video of our conversation is available online.

One topic of conversation was Social Security.  As I noted in the call, Social Security has improved American society.  Back in 1935, to be old was, on average, to be destitute.  Social Security changed that.  It is one of the most important governmental programs in the history of the country, and it has worked and it still works.  Without Social Security, 44 percent of elderly Americans would live in poverty; with Social Security, only 9 percent do.

One thing I advocate, and this would be good for fairness as well as for individual Americans, is to remove the cap on wages subject to the Social Security taxes.  Right now, if you pay Social Security taxes, as almost every wage-earner does, you pay taxes on only about the first $117,000 in income.  For this reason, millionaires pay a smaller percentage of their income in Social Security taxes than ordinary folks.

No middle-income or low-wage worker should pay a higher rate on Social Security taxes than millionaires.  If we got rid of that cap, then no one would raise a question about Social Security’s long-term finances for many decades to come.

A New Nation, Conceived in Liberty

One hundred and fifty years ago, Abraham Lincoln stood at Gettysburg and proclaimed, from the bloodiest battlefield of our nation’s bloodiest war, that “we here highly resolve that these dead shall not have died in vain – that this nation, under God, shall have a new birth of freedom – and that government of the people, by the people, for the people, shall not perish from the earth.”

These words were Lincoln’s first, but now they belong to all of us – and I encourage you to make them your words as well.  The Learn the Address project, associated with patriotic filmmaker Ken Burns, encourages ordinary citizens to record the Gettysburg Address and share the results on YouTube.

Lincoln captured in the fewest possible words the essence of what America is about.  I have just posted my own recording of the speech, and I hope you’ll join me in honoring this moment in American history.

Working for You

Recently, a Monroe woman contacted me because the IRS had refused to issue her $1,400 tax refund.  The refund had been held up due to procedural delays, and despite the constituent’s repeated efforts, the IRS would not resolve her case.  After I contacted the IRS to cut through red tape, the woman quickly received her refund.

Have you encountered a similar problem with the IRS, a passport center, the VA, Social Security, Medicare, or any other federal agency? If so, please call me at 1-87-RUSH-HOLT or by sending an e-mail. I’ll do all I can to address your problem.

Sincerely,

Rush Holt
Member of Congress

To Those Who Need It

The following is from Congressman Rush Holt's newsletter:

“Banker,” “revolutionary,” and “visionary” are not words often associated with each other. Yet all apply to Dr. Muhammad Yunus, who this week was honored with our nation’s highest civilian honor, the Congressional Gold Medal, under legislation that I wrote and helped pass with help from many New Jerseyans.

Born and educated in what is today Bangladesh, Dr. Yunus discovered that impoverished people could not get ahead because of the predatory lending practices of money-lenders. Starting with just $27 of his own money, Dr. Yunus showed that, contrary to the old, cynical saying than bankers “loan money only to people who don’t need it,” it could be profitable to loan money to poor people who had not shown marketable skills or facility in handling money. In the face of skepticism and opposition, he built a microcredit banking business that thrived, lifted millions of people out of poverty, and provided a model for similar work around the world.


In 2006, New Jerseyans who were inspired by Dr. Yunus’s work – organized through RESULTS NJ – urged me to help honor his contributions and raise awareness of microcredit by working to award him a Congressional Gold Medal. Awarding the medal was not easy; we had to work for four years and talk one by one to hundreds of lawmakers. I feel certain that the effort has generated awareness and durable support in Congress for anti-poverty microfinance programs.

Now Dr. Yunus is developing his model for eliminating poverty – not simply alleviating poverty, but eliminating poverty. Does this sound preposterously idealistic? To many it does. However, we would do well to listen to someone who has such a clear, remarkable record of exploding long-cherished myths about business, money, and poverty.

A Receipt for Your Taxes

As you know, Monday was the deadline to file your 2012 income taxes with the Internal Revenue Service. I encourage you to take a few moments to visit the White House’s 2012 Federal Taxpayer Receipt, which will show you how your tax dollars are being spent.

You may be surprised to learn, for instance, that the clear majority of tax dollars go to support just three programs: Social Security, Medicare, and the Department of Defense. As the economist and Central New Jersey resident Paul Krugman has often commented, the United States government is, from a budgetary perspective, “an insurance company with an army” – an insight that we would all do well to bear in mind when considering the anti-government rhetoric so prevalent in Washington today and when considering possible changes in the federal budget.

“Precious – Almost Sacred”

The history of American elections is a story of an expanding right to vote. The franchise was once extended only to land-owning whites, but over centuries, America has expanded it far more broadly: to non-landowners, to women, and to minorities. Over the years, through various laws we have made it more difficult to exclude people from registering and voting.

One of the heroes in that long story is my friend John Lewis, the Georgia congressman who suffered grave injuries during his nonviolent protests that helped inspire the Civil Rights Act and the Voting Rights Act of 1965. This week he joined me and other New Jersey officials to call on Gov. Christie to take the next step in expanding the franchise: bringing early voting to New Jersey.

The flaws of a one-day-only voting system were all too obvious last November. Many voters across the nation had to wait in long lines on Election Day, and many New Jersey voters affected by Hurricane Sandy could not make it to the polls at all.

The rational, simple solution to this problem – already embraced by more than 30 states – is to allow voters to cast their ballots any time during a period of days or weeks leading up to Election Day. The state legislature has already passed a bill to give New Jerseyans 15 days to vote early. Now, we just need Gov. Christie to sign it into law.

As Rep. Lewis said, “The vote is precious – almost sacred. It is the most powerful nonviolent tool that we have in a democratic society to bring about change. It is my hope that the governor of the state of New Jersey will do what is right, what is fair and what is just, and sign this piece of legislation.”

Sincerely,

Rush Holt
Member of Congress

"Son of Boss" Ad Hit's Romney Hard

Talk about a hard hitting campaign Ad by Team Obama.

This one is sure to knock the wind out of Romney, sending him to the corner for a standing 8 count, while his people scramble for a response.

I think it is becoming harder each day for Romeny to hold onto those tax returns.



Romney personally approved over $70 million in fictional losses to the IRS as part of the notorious Son of Boss tax scandal. One of the largest tax avoidance schemes in history.

How Can I Help You?

From the E-Newsletter of Congressman Rush Holt:

Congressman Rush Holt

Among my most important roles as your representative is to serve as your advocate in your dealings with the federal government. Over the past year, I have:

• Secured $40 million for military suicide prevention efforts after an East Brunswick soldier’s suicide death exposed gaps in the military health care system.
• Helped a college graduate from South River appeal exorbitant fees that a contractor was charging to service his federal student loans.
• Helped a Kendall Park family resolve immigration problems after a paperwork error almost prevented their adoption of a child from overseas.
• Helped a Plainsboro man expedite his passport application in time for a long-planned family trip.

These are only a few of the thousands of Central New Jerseyans whom I am able to help directly each year. If you have encountered problems in your dealings with any federal agency, please let me know so I can help. You can reach me at 1-87-RUSH-HOLT (1-877-874-4658) or by visiting holt.house.gov/contact.

Tragedy in Colorado

As we watch the news from Colorado with horror and sympathy for the families, we should remember that each day more than 80 Americans are killed by gunfire, unnecessary tragedies. Arguments that gun safety legislation won’t help the situation seem to me illogical or blindly ideological.

Ensuring the Health of Pensions

In the U.S. House Committee on Education and the Workforce last month, we held a hearing about the health of multi-employer pension funds – typically plans that are maintained by several employers and a labor union, such as those representing truckers or carpenters who work for various employers. These funds face many challenges today. According to IRS data, the proportion of multiemployer plans facing significant funding shortfalls rose from 23 percent in 2008 to 68 percent in 2009. Demographic trends also pose a threat: beneficiaries of these plans are generally living longer than expected.

Many difficult decisions about contributions and benefits must be made to restore these plans to health. Perhaps the biggest lesson is that we should never fall to the temptation to reduce contributions to pensions when the economy is healthy. A fund that may seem overfunded in good times can become dangerously depleted when the economy heads downhill.

Expanding Health Insurance and Creating Jobs

As the health reform law takes effect over the next few years, tens of millions of Americans will finally gain access to affordable health insurance. Some who question the law have, however, raised a concern: could the requirement that employers provide insurance for their employees and the costs of providing health insurance lead employers to cut employees from their payroll? In other words, might there be a tension between expanding health coverage and creating jobs?

Independent researchers at the Urban Institute recently studied this issue, and they reported good news. In the years after Massachusetts enacted a very similar health reform law, “there was no evidence of a disproportionate loss of employment overall, by type of job, or by type of worker, in Massachusetts under health reform relative to the rest of the nation.”

The researchers concluded, “Although there are differences in the details between the state’s health reform and the [national health reform law], the evidence from Massachusetts suggests that national health reform will not lead to job loss or stymied economic growth.”

Sincerely,

Rush Holt
Member of Congress