Corzine: The New Jim Florio?
Beware of liberals promising tax cuts
; they like talking about them in October, but after the election is over they are generally shocked, shocked I tell you, to discover that there's no room in the budget for the reductions.Among other things, he promised a big increase in the property tax rebates that New Jersey homeowners receive each year. Property owners in New Jersey pay about $6,000 a year on average.
But after inheriting a $4.5 billion budget deficit, Corzine called for $1.9 billion in tax increases — including an increase in the sales tax from 6 percent to 7 percent — and announced that the property tax relief he promised would cost too much at $550 million. He offered $100 million instead.
Jim Florio was elected governor of NJ back in 1990 and immediately raised taxes substantially; friends of mine who were apolitical 99% of the time had bumper stickers calling for his head.