WyBlog

412 million reasons to be thankful Jon Corzine won't be governor much longer

Before the gubernatorial election Governor Jon Corzine "found" some unanticipated revenue in order to restore property tax rebates for senior citizens. It was a sham, and thankfully the voters didn't buy it.

Tonight on the eve of a major national holiday (the better to bury the bad news) Corzine announced that New Jersey has collected $412 million dollars less in tax revenue than his budget anticipated.

Oops.

Corzine blames the shortfall on slumping corporate tax collections. Gee Jon, you raised corporate taxes, didn't you? And you promised us that the tax increase would result in more revenue, right? What happened?

Can you say "Laffer Curve"? Sure, I knew you could!

Who but a Liberal could believe that raising taxes in a recession would result in more revenue? But that's the only arrow in their quiver. The Liberal Democrat solution to every problem is "raise taxes".

We see it in Harry Reid's abomination of a health care reform bill.

We see it in David Obey's cockamamie scheme for funding a troop increase in Afghanistan.

And we see it in the preposterous idea that motorists should pay a higher gas tax to fund the new NJ Transit rail tunnel to midtown Manhattan.

55 days. In 55 more days Jon Corzine will be a private citizen. And then New Jersey can get started on the road to recovery.

Posted at 18:09 by Chris Wysocki   [/nj_politics]   Comments | Archived | Perm Link |
Technorati Tags: NJ+Politics Jon+Corzine Chris+Christie   |   Tweet