NYP- New Jersey’s new Democratic governor, Phil Murphy, wants to move his state back to the future — or, more accurately, to the past. The dismal past, that is, of such predecessors as Jim Florio, Jim McGreevey and Jon Corzine — who unleashed the fiscal woes that have left the Garden State’s economy in tatters and its taxes sky-high.
That’s the takeaway from Murphy’s inaugural address last week, with his vow to produce “the state that leads the nation in progressive policies” and a laundry list of hard-left priorities that surely thrilled the hearts of every Democratic activist and public-union leader in the house.
He promised pot legalization, a $15 minimum wage, “equal pay for equal work” laws, automatic and same-day voter registration, a new state Office of Immigrant Defensive Protection, action to make the rich “pay their fair share in taxes” and, of course, resolution to “stand our ground” resisting President Trump.
(It’ll be interesting to see how he squares that with asking Washington for help funding new Hudson River rail tunnels.) Among the things Murphy never did mention were answers for the state’s ongoing crises — like pension reform, lowering property taxes, cutting state spending or making Jersey more business-friendly.
As we noted last week, his first real decision is whether to devote all new tax dollars to the state’s ailing pension funds — or to let them head to collapse.
But Murphy — like so many New Jersey Democratic governors before him — is promising Garden Staters they can have their cake and eat it, too. And that they no longer need suffer the supposed austerities of the Chris Christie years.
We’ll see if the former Goldman Sachs financier keeps singing from the same liberal hymn book once the bills come due.
But if recent history is any indication, New Jerseyans may soon learn the age-old truth of what’s long been known as Murphy’s Law: Anything that possibly can go wrong, will go wrong.
go wrong, will go wrong.
Basically, I am right and he is left, so everything he says must be wrong.
ReplyDeleteWHen the right admits that trickle down economics is voodoo economics, not backed by any scholarship or practical experience, we can start having a conversation. Until then, the right has lost it's claim to any serious opinion
"Trickle down economics....Lost it's claim to any serious opinion" typical tactics of leftists, shut down the debate without allowing any facts.
DeleteFact is that NJ has been under Democratic rule for decades, the Christie governorship was a small anomaly, and he never controlled the legislature. Fact is that NJ has the highest property taxes in the country.
Fact NJ has lost billions from people and businesses leaving the state due to high taxes.
Fact, free in state college tuition (one of Murphys promises) costs money
Fact, removing arbitration caps on union contracts, cost money
Fact, fully funding the schools costs money
Fact, fully funding pensions cost money
Fact, Murphy promised a lot of things that cost a lot of money, NJ has no way of paying for any of them, and the residents are already taxed to the limit.
As far as trickle down economics, that sure seems to beat the alternative.Fact is that Obama is the first 2 term President in U.S. history that never had 3% GDP growth.
considering that the facts are not on your side, no wonder you don't want to even start having a conversation
Pension reform -- he'll just increase pension benefits, charged to the state
ReplyDeleteProperty taxes -- he specifically said he will increase taxes
Cutting state spending -- he already promised unions increased benefits. Of course taxes will pay
Making Jersey more business friendly -- only Goldman Sacks business (who doesn't mind increasing taxes)
Drill baby drill that is one way to add tax money.(also fracking) Voodoo only works if you belive in it, so voodoo economics should work for all the people who realy truly beleve
ReplyDelete