Murphy promises to raise taxes by $1.3 billion

Former Goldman Sachs banker Phil Murphy, the Democrat nominee for NJ Governor, promised to raise taxes on New Jersey citizens by $1.3 billion dollars if elected, according to an Observer report.

Murphy’s law would reinstate the the McGreevey/Corzine era “millionaires tax” to raise $600 million. $300 million would come from taxing legalized marijuana. New Jersey businesses would be on the hook for an additional $290 million and hedge fund managers would be required to chip in an additional $80-$100 million, if they don’t move to Pennsylvania or New York, under Murphy’s plan.

The plan would solve all of New Jersey’s problems and lower property taxes, according to Murphy’s spokesman.

“Phil has put forward a responsible plan to restore New Jersey’s fiscal standing while ensuring we meet our obligations, fund public education, and provide property tax relief,” Murphy campaign spokesman Derek Roseman told Observer. “It recognizes that our deep-rooted issues need immediate attention and puts the state on a firm path forward. It is based on realistic accounting and benchmarks, and a means of meeting both.”

In an interview with MMM yesterday, Republican gubernatorial nominee Kim Guadagno said Murphy “is not talking about how to make New Jersey affordable again. He’s promised an increase in spending of $75 billion, billion, dollars in New Jersey. That’s just not realistic, it’s not authentic. It’s not what New Jerseyans believe and it’s not what New Jerseyans want.”

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Posted: August 18th, 2017 | Author: | Filed under: Monmouth County | Tags: , , , , , | 6 Comments »

6 Comments on “Murphy promises to raise taxes by $1.3 billion”

  1. It is said at 9:38 pm on August 18th, 2017:

    incumbent upon us all, from now on, to get the word out to the apparently brain dead, or at least numb/ inattentive electorate, that if anyone really intends to stay here/ work/ raise kids/ grandkids, they had better wake the hell up, and get to the polls in November, to stop the onslaught and try and save what good is left of this state, and say NO to our demise, by giving Kim a chance to make things even a little bit bettter than the last 12, (yes, 12, Corslime and Chubby,) years wound up being!

  2. Tom Stokes said at 10:00 pm on August 18th, 2017:

    Maybe it’s time for the ones who pay the taxes (both income and property) to look elsewhere to live. You won’t be able to afford living in NJ much longer.

    If you wait too long, home prices will come down due to oppressive over taxation.

    What a shame.

  3. MissyT said at 11:51 pm on August 18th, 2017:

    Now who in their right mind believes this? We were told the Lottery would reduce our taxes – it didn’t, we were told the sales tax would reduce our taxes – it didn’t. This is why more people are moving OUT of NJ and taking their tax contributions with them. Voting for Murphy is voting for more corrupt crony spending and more taxes. Idiotic!

  4. Tom Herman said at 7:15 am on August 19th, 2017:

    I retired from the Army in 2002 – we moved to North Carolina for what it lacks: the corruption, hi prop taxes ( we pay $3,100 a year for a house that is valued at $600k ) miserable roads, tunnels and unsafe bridges and we lack politicians who believe the money in our pockets is owns and not theirs.

  5. Give me a break said at 9:28 pm on August 20th, 2017:

    what a buffoon this guy Murphy is. Maybe Kim shouldn’t be worried about the money he has for his campaign. Getting his so-called “message” out can only hurt him. The more people get to know him the more they will learn to despise him.

  6. Clinging to the hope said at 8:16 am on August 22nd, 2017:

    that the NJ electorate,for once, gets past its usual knee- jerk, short- sighted, emotional, uninformed, and “quick- fix” voting patterns. After the missteps and disasters of both Corslime and Christie, am afraid they will over-simplify yet again, and vote for “cool”pot, and even more taxes and giveaways.. bankruptcy, here we come..