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Old 04-30-2009, 08:07 PM
 
3,269 posts, read 9,938,742 times
Reputation: 2025

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Hmmmm I wonder where he will get the money to make up this deficit...

State revenue projections are now off by as much as $2 billion, a deficit that could trigger at least that much in new budget cuts or tax hikes.

The potential shortfall, which legislators suggest is another sign of the bad economy, comes as lawmakers review a budget proposal that cuts the property tax rebate program and other services and raises taxes on higher incomes, cigarettes, liquor and wine.

Corzine: N.J. revenue shortfall as high as $2B - NJ.com
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Old 04-30-2009, 09:41 PM
 
Location: Charlotte Co Florida
119 posts, read 472,830 times
Reputation: 37
No surprise. Corzine is a nightmare.
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Old 05-01-2009, 12:54 AM
 
4,287 posts, read 10,773,520 times
Reputation: 3811
how many times can they add more tax to alcohol or cigarettes? enough is enough geez.
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Old 05-01-2009, 03:48 AM
 
20,349 posts, read 19,941,445 times
Reputation: 13467
Maybe NJ should take the Federal govt's lead and just print up more money.
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Old 05-01-2009, 05:52 AM
 
505 posts, read 1,763,142 times
Reputation: 208
Quote:
Originally Posted by doc1 View Post
Maybe NJ should take the Federal govt's lead and just print up more money.
Unfortunately they dont own a printing press.

Has anyone tried to equate the budget shortfall with the higher taxes possibly pushing people out of the state? That might be an interesting analysis.

I think right now we need to CUT corporate taxes- right now a lot of corporations are getting to the breaking point with Jersey and moving to greener pastures to more business friendly states. Being close to NYC isn't enough, NJ has to bring something else to the table to promote business here. More business at lower taxes = more revenue than less businesses at higher taxes. Plus all of the secondary benefits (lower unemployment, etc)

I think the state really needs to reevaluate its strategy on corporations- being near NYC and Philly is quickly greying, and trying to compensate by raising taxes is a no go.
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Old 05-01-2009, 06:10 AM
 
989 posts, read 1,878,038 times
Reputation: 1623
Quote:
Originally Posted by jcjh20 View Post
No surprise. Corzine is a nightmare.

Yes. Jon Corzine is a nightmare. You'll get no argument there from me. However, I don't for one minute believe that the opposition party is going to do anything much different or be any more more effective. I've seen it for years. The governor is one person, and fighting political bosses all over the state is a daunting task. Maybe people should try and change things from the bottom. They can start be voting out local government officials.
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Old 05-01-2009, 06:41 AM
 
Location: Pleasant Mount, PA
13 posts, read 31,499 times
Reputation: 19
Carla Katz is going to be on the Jersey Guys - 101.5 - Monday @ 6 PM - maybe she'll come out with something that will get him out of office
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Old 05-01-2009, 06:58 AM
 
Location: NJ
23,568 posts, read 17,245,407 times
Reputation: 17616
Default paradox

We are the government. when the government, us, is short of cash how does it make sense to ask us for more money for us?

Where would it come from?

As there has been no revalation that our money has been conserved through discovery of waste, legal and illegal fraud and incompetence where do you think the 'new' money will go?

2B sounds like chump change in the scheme of things. I'm sure that budget cuts will be made to high profile areas that send a message to 'us' that we will be held hostage until Jon gets his way.
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