Four years ago, New Jersey Governor Jon Corzine promised to use his supposed Wall Street know-how to cut our taxes.
Instead, he has raised taxes, raised fees, raised tolls and chased businesses out of our state. Amazingly, over the weekend, Governor Jon Corzine told The Philadelphia Inquirer that he would not rule out raising taxes again to cover his gaping budget shortfalls, despite nearly 10 percent unemployment.
If Governor Corzine has already broken his campaign promise to New Jerseyans to not raise taxes, what kind of tax increases can we expect if he is actually admitting he will raise taxes?
In the last four years, Governor Corzine's tax hikes and uncontrolled spending have given New Jerseyans the highest tax burden in the nation, so it should be no surprise that he has no problem raising taxes on our state again.
In his last budget alone, he raised taxes by $1.2 billion, while New Jerseyans pay the highest property taxes in the country.
Even his most recent tax increases are not enough to cover his egregious spending. Next year, New Jersey will need to overcome Jon Corzine's $8 billion budget deficit and the Governor has told us how he will do so: not cut wasteful spending, but instead raise taxes.
Christie-Guadagno Campaign Manager Bill Stepien: "Record numbers of jobs are leaving our state and, Jon Corzine is encouraging New Jerseyans to follow them. Governor Corzine's promise to raise taxes is the first time in this campaign he has told the truth about his record and his approach to governing. While the Governor may believe that more taxes are the answer, the fact is the people of New Jersey are hurting. Governor Corzine's commitment to even higher taxes and wasteful spending that got our state into this mess show just how out of touch he is. It is time to say no to Governor Corzine's irresponsible policies and change the way New Jersey does business."
· An upcoming $8 billion deficit for FY2011
· $1.2 billion in new taxes and fees for New Jerseyans
· 1.2 million more taxpayers won't receive property tax rebates in FY 2010
Tax Burden: In FY2010, Governor Corzine's budget will make the tax burden even heavier by making the taxpayers pay these new taxes and fines:
o $970 million for the elimination of property tax rebates
o $903 million for income tax rate increases
o $400 million for tax increase on employers for unemployment program
o $270 million for corporate business tax increase
o $100 million for the elimination of property tax deduction
o $37 million for health insurance tax increases
o $30 million for cigarette tax increases
o $21.6 million for wine and liquor tax increases
o $20 million for DMV fees
o $8 million for taxing lottery winnings increase
To view the full story from The Philadelphia Inquirer, please click here.