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Christie to veto ‘millionaires’ tax!

May 2, 2010

Chris Christie Credit Ed Murray/The Star-Ledger

 

Chris Christie was the guest of honor this past Friday at the Southern New Jersey Chamber of Commerce luncheon.  The Event was held at the Mansion on Main Street in Voorhees.  A capacity crowd of civic and business leaders listened to our governor.   

During his address, Christie reiterated he would not sign any legislation that brings back the income tax surcharge for residents earning $400,000 or more otherwise known as the “NJ Millionaires tax”.   (Only in New Jersey is someone who earns $400,000 a millionaire).  Christie told the attendees,  

“(The Legislature) is going to send me that tax, and I’m going to send it back with a great big red veto on it and they can start over.”  

Not surprizing the NJEA and Democrat legislators have been calling for the reinstatement of this small business and job killing tax. Democrats will tell you the reinstatement of this tax can bring in one billion dollars to the states coffers.  

Oddly, there may be a turf war for money the state does not have and revenue from a tax that will not be signed into law.  Lou Greenwald wants the money for property tax rebates and the NJEA want the money to fund pay increases across the board.  Christie predicted this very conflict.  

“Now is the time when we all must resist the traditional, selfish call to protect your own turf at the cost of our state. It is time to leave the corner, join the sacrifice, come to the center of the room and be part of the solution. I urge all of us to come to the center of the room voluntarily, to stand up to the special interests, to fix our broken state – together.”  

Governor Chris Christie’s Budget Address March 16, 2010  

Neither, Greenwald nor the NJEA,  has a plan to help stem the mass exit of wealth from our state.  Chris Christie was elected to restore fiscal sanity and solvency in Trenton.  It seems the governor has kept his priorities,  

“… to reduce and reform New Jersey’s habit of excessive government spending, to reduce taxes, to encourage job creation, to shrink our bloated government, and to fund our responsibilities on a pay-as-you-go basis and not leave them for future generations.”  

With thanks to David Levinsky at the Burlington County Times

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