Gov. Christie: We're Not Raising Taxes New Jersey Governor Says He Has Residents Covered Through Fiscal Year 2011 Despite $800 Million Hole

[Sanguine]

CBS:

 

RUTHERFORD, N.J. (CBS) ―

 

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.

 

Wow. Who woulda thunk it?

[Sanguine]

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.

[Sanguine]

And, here, for a little juxtaposition:

 

Democrats propose tax hikes in response to Schwarzenegger's fiscal plan

The party's leaders in the Senate and Assembly agree that any rational plan to close the $19.1-billion deficit must include additional sources of revenue.

By Shane Goldmacher, Los Angeles Times

 

May 26, 2010

 

Reporting from Sacramento

 

The Democrats who control the Legislature have fired their opening salvo against Gov. Arnold Schwarzenegger's spending blueprint, which proposed eliminating California's welfare program and cutting deeply into other state services, by proposing that the state rely instead on billions of dollars in new taxes to balance the budget.

 

The Assembly's Democrats detailed a plan Tuesday that would tax oil companies and borrow billions from the nickel-and-dime deposits that consumers make on recyclable bottles and cans. Tax breaks for businesses that are scheduled to take effect soon would be delayed under the plan.

 

A day earlier, Democrats in the Senate had begun debating a nearly $5-billion tax plan that would delay the same corporate tax breaks and extend both a hike in personal income taxes and a reduced dependent-care credit that are set to expire in December. Vehicle license fees would rise by $1.2 billion. Taxes on alcohol would increase 60%.

 

LINK

[pollyannaish]

These seems like such a common sense thing. FREEZE THE AUTOMATIC INCREASES. Businesses do this all the time. It's ridiculous that we create crisis when we can use some simple solutions and a little patience to solve them.