Friday, October 23, 2009

Christie's Tax Cutting Plan

New Jersey has the highest tax burden in the country and it’s getting worse - the latest Corzine budget just raised taxes by another $1.2 billion.
We’re also burdened with the highest property taxes in the country, but that didn't stop Jon Corzine from taking away property tax rebates from 1.2 million New Jerseyans in this year’s budget.
In fact, Jon Corzine and Jim McGreevey have raised taxes on the average New Jersey family by more than $10,000 since 2002 – over $22 billion in taxes, the highest in the nation.
In all, Corzine and Governor McGreevey have raised over 100 taxes on New Jersey’s hard-working families.

This will change in a Christie Administration. New Jersey’s hard-working middle-class families can no longer handle the weight of these out of control taxes. The first step to reversing New Jersey's declining economic climate and giving New Jerseyans a little relief is by cutting taxes.

Highlights from Chris’ plan to cut our taxes:

  • Provide Property Tax Relief
  • Reduce New Jersey's Income Tax
    • Across the board cut for all taxpayers
    • Additional cut or credit for NJ-based small businesses
  • Reduce the Corporate Business Tax Rate
  • Eliminate the double taxation on New Jersey's S-Corporations

Read the full plan here >


Josh said...

Good to see Christie lay out some solid details here.

My only question is this - how does Christie plan to implement all of these tax cuts without adding to the deficit, let alone reducing it? I don't think spending cuts and freezes will be enough; I don't think there is enough spending to cut without totally crippling our state and municipal governments. What, are we going to tell people to shovel out their own streets and roads after snow storms this winter instead of the towns, counties and states sending out plows?

I have a feeling that Christie, however good his intentions, is going to run into the same problem Bush I had after his "read my lips, no new taxes" pledge. The Reagan tax cuts without a corresponding reduction in spending created such a fiscal disaster that he had no choice but to break his promise, even though it helped cost him re-election.

As much as you hate to hear this, Daggett may end up being right - short of completely shutting down the government (which obviously won't work), there may be no avoiding some kind of tax increase to halt this fiscal disaster.

Dan Cirucci said...

There is enough waste in the state budget to cut. Way more than enough.
We have a monstrous state budget -- one of the highest and most overblown in the nation. And it has grown all out of proportion. For every one job in the private sector created during McGreevey/Corzine, FIVE jobs were created in the public sector. FIVE!
Christie has laid out his plan.
And he's proven he can get things done.
This man put ten percent of our State Senate in jail.
He's smart. He's tough. He's focused.
Take a trip to the Trenton area someday and look at all those buildings filled with bureaucrats -- miles and miles of paper pushers. No, we won't have to give up garbage collection and snow removal.
The tax and spend policies that got us into this mess must stop. The line must be drawn.
Corzine and Daggett want MORE taxes.
Only Christie is committed to reversing this failed policy. Christie didn't come up through the state legislature or the Trenton bureaucracy. He will order a full and complete audit and review of state spending as his first order of business. Kim Guadagno will report back with a plan to streamline, cut and eliminate waste, mismanagement and duplication. The timetable has already been set, Josh. It's all laid out on Christie's web site.
But the mainstream media has not been reporting this. They don't want you and I to know about it. They are committed to a Daggett-induced Corzine win.
Either Christie or Corzine will win. Be sure of that.
Corzine CANNOT reform our state, reduce state spending or cut taxes. He's failed.
Besides, in his second term (if he's re-elected) he will be a lame duck. No clout.
Christie will shake things up. Christie is the best (and ONLY) alternative.