Millionaire Welfare

Now that “CaptainSlogan” Governor Christie (“Mission Accomplished”, anyone?) and LG Guadagno are doing another round of public relation events to sell their plan to give more government handouts to the super rich in the form of unnecessary and unaffordable tax cuts that would cripple the state and middle class, more information is coming out to show just how farcical this really is.

When meeting with around 100 mayors yesterday to tout more slogans about NJ and a so-called business friendly environment that just doesn’t exist on their watch, the mayors generally wanted nothing to do with her comments, citing property tax relief and state aid as more important.  There was also this nugget from Assemblyman Declan O’Scanlon, who is the senior Republican member on the budget committee:

[he] said the administration would be inclined to restore some aid to towns in the budget this year, but state revenues have been sluggish.

“By now we expected to see higher rates of growth,” he said. “The governor didn’t arbitrarily cut these things. We had to make some tough budget decisions.”

So we hear that there isn’t enough money for helping towns and restoring services, and as I wrote recently, the overwhelming majority of this approximately $1 billion government subsidy would essentially be Millionaire Welfare – saving them roughly $9,000 (on the low end) per year, while a family earning $50,000 would save a whopping $80 per year.  Ironically, Christie stated the following in his State of the State address:

“Make no mistake – we are in a competition,” he said in his speech. “In Connecticut, the governor has raised income tax rates on top earners and job creators. And New York last month enacted legislation to do the same. … The best way to compete is to show a different direction.”

But if you look at what has gone on here in NJ as compared to the rest of the country, and even NY, what Christie says and reality are far apart – especially when it comes to judging the impact of his prior year Millionaire Welfare program and his track record with businesses.  For starters, NJ has lagged behind other states, while Christie flat out overinflates his record on job creation.  Secondly, New York has had much better success than NJ in adding jobs – and even Christie’s attempts to poach businesses from NY has failed while he had killed countless jobs along with the killing of the ARC tunnel and gave a very bad signal when he killed the film credit.

To continue showing how bad NJ has been for business despite Christie’s bluster, New Jersey has been ranked in the BOTTOM 2 states in Gallup’s Job Creation Index in both 2010 and in 2011.

Assemblyman O’Scanlon’s comments yesterday, whether an innocent slip or not, just confirm what most of us were already saying for a long time – no matter how many slogans Christie comes out with, his policies are the same retreads – more welfare and government handouts to the super rich and more made up nonsense at the expense of most of New Jerseyans.

Comments (3)

  1. 12mileseastofTrenton

    which I don’t, Connecticut and New York raising their top rates is an argument for New Jersey NOT cutting theirs.

  2. Nick Lento

    …thanks for pointing that out Adam.

    Christie is a conventional Republican machine hack masquerading as a “regular guy from Jersey”.   The act is wearing thin.

  3. the_promised_land

    Didn’t know about that Gallup index – very interesting.


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