Posted on 05/26/2010 5:32:20 AM PDT by Extremely Extreme Extremist
New Jersey Governor Says He Has Residents Covered Through Fiscal Year 2011 Despite $800 Million Hole
RUTHERFORD, N.J. (CBS) ―
New Jersey tax revenues have plummeted again, this time by nearly $800 million. But in a first for his fledgling administration Gov. Chris Christie is not calling for more painful cuts.
On the surface the news looked pretty grim for Garden State residents on Tuesday – thanks to an unanticipated drop in tax revenues of $402 million this year and $365 million next year.
But a new budget hole of nearly $800 million is not going to give Gov. Christie a single new white hair. At least this time, the governor's message is "gotcha covered."
"We're very confident we've been able to close the additional budget gap in (fiscal year) 2010 and in (fiscal year) 2011 we're going to be able to solve that problem without any new taxes at all and without any real significant cuts," Christie said.
Skipping the "fiscalese," what happened was the budget freeze imposed by Gov. Christie when he took office generated more savings than expected, enough to cover much of the lost tax money.
"I think we're going to be fine," Christie said.
Despite Tuesday's relatively good news negotiating a new budget with the Legislature remains a problem. Christie wants to slash education spending and enact other cuts. They want new taxes, preferably another millionaire's tax.
But Christie isn't going for any new taxes. He said New Jersey taxes have already been raised an unbelievable 115 times.
"We're not raising taxes, Marcia. That's it. It's not happening," Christie said.
How do residents feel?
"I'd rather see a tax on millionaires also. It's about time we stopped paying for everyone else," said Lionel Nazco of Carlstadt.
"Taxing the millionaires sounds great. The only concern I have is the millionaires have the ability to take their money and leave," added Anton Tsamas of Hackensack.
"I don't want to see the service cuts. I want to see the millionaire's tax," said Peter Brehm of Newton.
The governor and Legislature are supposed to reach a budget agreement by the end of next month. If not, they could end up like New York, which is now nearly two months into a budget stalemate.
What to leftists do after they’ve eaten the rich?
“thanks to an unanticipated drop in tax revenues of $402 million this year and $365 million next year.”
WTF?
With 10% unemployment this was unexpected? With people leaving N.J. in droves because it has the highest taxes and insurance rates in the country?
And how is next years tax revenues an unanticipated drop already?
Ignorance on display for the whole world to see.....
How do residents feel?
“I’d rather see a tax on millionaires also. It’s about time we stopped paying for everyone else,” said Lionel Nazco of Carlstadt.
“Taxing the millionaires sounds great. The only concern I have is the millionaires have the ability to take their money and leave,” added Anton Tsamas of Hackensack.
“I don’t want to see the service cuts. I want to see the millionaire’s tax,” said Peter Brehm
Starve, but they never think that far ahead. Ask the morons what part of the millionair tax they want to take up when the millionair moves out of state.....with his money and his jobs.
Is that a trick question?
Go after the middle class, of course.
They become the rich. The money is there - commerce would continue - they would reap the benefits and money.
That is what all this is about.
I’m a resident of NJ. Thanks for your condolences, but we finally have a governor who seems interested in serving the working, tax-paying citizens. I say cut spending and don’t raise taxes.
They eat the next in line. The middle class and then they eat every last one that has a couple bucks and then they eat each other.
Chris Christie is the man. He’s taking on the unions and holding the line on taxes. I could see him rising on the national scene if he keeps this up.
Well...no shite...and they are!!!
See Greece!!!
When people are incapable of "thinking" then they rely on "feeling". Kids are taught to "feel" from first grade through high school. This is the result...
That and the inability of most residents to pass Economics 101...
Pretty smart man, that Anton.
That's how New Jersey ended up right where it is.
Kids need to be taught to both think AND feel, then decide which one best serves their purpose in a particular situation. You’re oh so right about them being taught to “feel” from kindergarten on through college.
I was taught to “think it through” and see what the outcome is likely to be. Today’s kids are taught to “feel it out” and to hell with the outcome.
The teacher’s unions hold the future of NJ in their greedy hands.
It’s up to them.
Yeah, that worked out so well in New York state. /sarcasm.
Liberals show an amazing ability to filter out reality in their thinking - even reality from a neighboring state.
There are more NON teachers than teachers in NJ. As always, it is up to citizens who, in the past, had been to busy with their work and their lives to pay attention to politics until it crawled into their wallets too deeply.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.