I had written aboot the tax and spending cap amendments Gov. Christie had proposed recently, which led to a buddy of mine’s dissent, “All for it but reminding you that they’re still a pretty blue state. How does this differ from similar constitutional amendments like that in California that has strangled the state financially?” It’s a valid point. Plus, if the ballot initiative gets defeated (as four did in California few years back), say good by to the “Electric Blue State Conservatism Test.”
We’re all fans of Gov. Christie now that he’s talking a good game and starting to do what he said he would, but we won’t start to see results until Election Day when the voters decide if he’s made a compelling enough case. Until then I’ll take these tokens of his affection like vetoing the “millionaire’s tax” all of two minutes after it passed the Dirty Jerz Assembly .
It seems harmless enough, take money away from rich people and give it to everyone else. The Governor disagrees…
“While I have little doubt that the sponsors and supporters of this bill sincerely believe that the state can tax its way out of this financial crisis, I believe that this bill does nothing more than repeat the failed, irresponsible and unsustainable fiscal policies of the past,” wrote Christie in his veto statement. “Now is not the time for more of the same. Ultimately, another tax increase will punish the state’s struggling small businesses and set our economy further back from recovery.”
Never mind the fact that the “millionaire’s tax” is actually a surcharge on people making $400k and above…i.e. the people you count on to create jobs who, according to a report from the Center on Wealth and Philanthropy at Boston College, are leaving for other states including Florida, Pennsylvania and New York at a faster rate than they were being replaced (to the tune of $70 billion dollars).
The video of the Governor’s veto follows. Closing quotes:
“We’ll be back, Governor.” – Sen. Steve Sweeney
“Okay. We’ll see.” – Gov. Chris Christie