Sometimes a visual speaks far louder than words, Save Jerseyans, and who doesn’t love graphs/charts?
So here is a visual representation of the tax/spending plans, to date, of 2018 New Jersey gubernatorial nominee Phil Murphy (D-Goldman Sachs):
That barely noticeable blue column represent the revenues – $1.3 billion – Phil plans to bring in on an annual basis by raising the millionaire’s tax, legalizing/taxing pot, and closing some loopholes.
The very tall green column represents new spending – to the tune of $75 billion annually – proposed and/or supported by Murphy.
We can and should debate whether some of these revenues streams are even real (we’ve written extensively on this site about Leftists exaggerating the gains from millionaire’s taxes).
The bottom line: Phil Murphy plans to TRIPLE New Jersey’s budget but he’s only going to raise revenues representing 1.7% of the new monies he’s going to spend.
His math doesn’t add up. He can’t pay for single-payer, larger pension payments, and all of the other goodies he’s promising without a secret pot of gold that he hasn’t yet disclosed. And by “pot,” I mean a Scrooge McDuck-style vault. That’s what it would take.
In a state where politicians wrecked a pension system and ruined an economy by ignoring the rules of mathematics and economics in favor of political expediency?
This dangerous idiot is about to kick things into a whole new gear, one most taxpayers will be unable to ride out.