N. J. Christie Wins Big Victory
Jun 22nd, 2010 by David Anderson
Democrats in New Jersey have run their state into the ground. They haven’t stopped doing it. They were trying to keep the temporary tax increase on millionaires. Was it to close the budget deficit? No. It was to redistribute to more deserving people. Governor Christie rightly noted that such a policy is hurting the formation of capital and investment in the state. It is just another factor hurting the economy. Democrats rather bribe people than have good policy.
Tuesday, Governor Christie won. His veto was sustained.
I know some people will say it was a bad idea for Republicans to oppose the Millionaire tax. It was the only agenda of the Democrats with majority support. Why not let it go for a year? Well next year is an election year for the Senate and Assembly in New Jersey, would it have been easier then to turn it down?
Some people say that the millionaires could do without the money and seniors and others are hurting and could use the property tax relief. I agree. Personally, I don’t care if someone has to do with keeping a car two years instead of one or doesn’t get that extra Rolex. The problem is there is a larger principle. They are not taking the money to run the government but to redistribute wealth. The guy making the car or selling the watch deserve to make an honest living more than people who are mere recipients of the wealth of others because they are more numerous in the voting block. If we allow theft from millionaires, what justification is there not to steal from the middle class?
If we allow government to keep spiraling taxes to the point where it is starting to impact the economy, it hurts us all. Taxpayers have to get beyond the politics of envy and heed the Scripture which says the rulers should favor neither rich nor poor. All are equal under the law. If we are going to get this nation prospering again, we all have to stick together. We need to sacrifice together. We need to be able to keep the rewards of a job well done. Taxpayers need to look at this as all for one and one for all. If they divide us, they will pick us off one by one.
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NJ needs all the millionaires they can get- they’re the only ones who can pay their property taxes.
Read the study on the wealth migration from NJ because of this tax.
I wish we had a strong Governor.
Mike Protack
“Read the study on the wealth migration from NJ because of this tax. I wish we had a strong Governor.”
WTF? Our income tax is not graduated beyond $60,000 — you pay the same rate on your one millionth dollar that you do on your 60,001st. You’d be better off wishing you had stronger logic synapses.
NJ needs all the millionaires they can get- they’re the only ones who can pay their property taxes.
That is because NJ has achieved the conservative utopia of decentralization – a million little townships all with their own bureaucracy and taxation.
“That is because NJ has achieved the conservative utopia of decentralization – a million little townships all with their own bureaucracy and taxation.” In the old days they were known as soviets. The problem isn’t decentralization. One person in one township isn’t paying the taxes of another, so that doesn’t even make sense. The problem is the people demanding services and programs from government.
“The problem is the people demanding services and programs from government.”
The vast majority of NJ property taxes go to education.
Protack, as usual, is 100% wrong. It is a * miracle that he is trusted to fly jet planes. [BTW - Notice not link for his 100% wrong assertion? Funny that.]
Anyhoo…Wealthy people are moving into New Jersey. The poor are moving out (to live as parasites in Delaware).
http://www.princeton.edu/prior/PRIOReconomy-Final-(2).pdf
“That is because NJ has achieved the conservative utopia of decentralization – a million little townships all with their own bureaucracy and taxation.”
Wrong, wrong, wrong. New Jersey has acheived the socialist utopia of government of the unions, for the unions and by the unions.
Break the unions, save the state. Delaware should be watching. We’re not far behind.
By the way, David…why do you think that the choice for a millionaire is between keeping a car one year or two, or whether or not he gets the new Rolex? It’s not. The choice for many small businesses with gross revenues over $1,000,000 is do they keep forty employees or fire ten of them. That’s what “millionaires taxes” do to small business owners who file as individuals. And in the case of wealthy individuals, there’s a reason why Texas is expected to pick up three House seats, assuming Obama’s estimates don’t rig the census.
Texas does not tax income.
Finally, kudos to Governor Christie. He’s one of the rare Republicans who has governed to the right of where he’s campaigned. Go get’em!
It is for many people. The first priority for most millionaires that I know is investment before consumption. That is why they are millionaires instead of the people who make a lot but are in debt.
My point is that the people who depend upon those purchases would be the ones who suffer. The millionaire would not suffer. If they felt it hurt investment capital, they will just move and the state will suffer.
Jason 330
You went well out of your way to slander Mike Protack, who is an outstanding professional aviator… You then mock him for not providing a link to back himself up… Then you post a link…
To a dead page…
Liberals… It just gets better and better.
Isn’t this silly?
“Our income tax is not graduated beyond $60,000 — you pay the same rate on your one millionth dollar that you do on your 60,001st. You’d be better off wishing you had stronger logic synapses.”
What it has to do with logic one way or the other is nothing. If what you want to punish people for achieving than you graduate the taxes. If you want to encourage capital formation, wealth creation, and investment, you have a flater system. There is no logical reason to graduate tax rates.
David, your thinking ability is no better. The post is about a “millionaire” tax — a graduated tax. Delaware does not have one. Yet Mr. Protack compares the two as if we do. So yes, it does have to do with logic. Naturally that’s lost on you.
By the way, your contentions hold true at a national level, but not a state level — millionaires’ investments do nothing to help the state economy. Thanks for illustrating that your logic is even faultier than Mr. Protack’s.
Borgy –
Protack’s comment was the opposite of factual. It was perfect in it’s wrongness.
I hope he does not hit the down button on the airplane when he means to hit the up button.
The bottom line is, Christie is doing what he was elected to do. The N.J. budget (and deficit) is completely out-of-control, and that includes pension funding. And, as I heard him say recently, he’s ‘not going to capitulate’ to special-interest (union) pressure. And if that means he’s one-and-done, so be it- he couldn’t care less.
The nation could use more politicians with conviction, who hold their constituents’ interests higher than their own self-interest. Well-done Gov. Christie.
It is even more meaningful at the state level where the money is invested. The state level is where jobs show up or not. We have to take it really slowly for you don’t we?
New Jersey has lost 70 billion in wealth between 2004 to 2008 because of migration according to a Boston College study. A small but real part of that was the half millionaire’s tax http://www.princeton.edu/prior/PRIOReconomy-Final-(2).pdf . Combine that with the other taxes and costs and it hindered investment in the state. Most of this was prior to the economic crisis. If Christie had 3% of that lost wealth show up in tax revenues, he would have virtually no deficit. That is the self destructive power of liberal policies. As I said it is not just one segment. It is the broad attack on success. We can’t let them pick one off after another.