Assembly Budget Chairman Lou Greenwald’s INSANE tax plan came up yesterday afternoon at Governor Chris Christie’s town hall in Somerset County.
Why is the plan “insane?” Because it would (1) raise income tax rates while simultaneously (2) giving each of New Jersey’s 566 municipalities the authority to impose THEIR OWN INCOME TAXES.
Can you imagine, Save Jerseyans?
Greenwald actually wanted the Governor to debate him on it; Christie dismissed his challenge out of hand. And rightly so! Greenwald is a small fish in a big pond – hardly an opinion leader since you first need to develop your own opinions before you can influence anyone else’s…
Greenwald’s plan also isn’t reasonable! First and foremost, we have hard data illustrating the direct correlation between “millionaire taxes” and outward migration followed by massive state revenue losses. It’s an economy killer! Moreover, taxpayers are already experiencing enough trouble with property tax loopholes. Governmental entities have infamously voracious appetites; we all know township committees, legislatures and congresses rarely surrender tax power willingly just because a new revenue source becomes available! Hence, Greenwald’s plan would set off a flurry of new municipal taxes ordinances that would cripple our state’s fragile economy.
It’s a non-starter for New Jersey.
So for all of these reasons and more, Save Jerseyans, Governor Christie told an inquiring town hall attendee “not on my watch” when asked to pass judgment on Greenwald’s half-baked tax hike proposal:
httpv://www.youtube.com/watch?v=H4WEwbO6MSc
