Gannett: Liberals suggest Corzine tax wealthy even further
Gannett State Bureau
Thursday, May 21, 2009
by MICHAEL SYMONS
Gov. Jon S. Corzine's revised budget proposal drew qualified support Wednesday from a coalition of liberal groups who urged him to raise income taxes on wealthy households even further, while the governor fended off Republican criticism of his plans to cut off property tax rebates for another 510,000 households.
One day after Corzine proposed eliminating rebates for one year for all residents except those 65 and older or disabled, the Republican State Committee released an online ad showing Corzine in his campaign four years ago promising to fit a 40 percent increase in rebates into the state budget.
Republicans also said plans to raise income taxes on taxpayers with incomes over $400,000, including a rate of 10.75 percent on income over $1 million, could prompt the rich to move to states with no or lower income taxes.
But a coalition calling itself Better Choices for New Jersey says the tax hike should begin at $300,000 and at a higher rate.
"It is a good solid step forward," said Mary Forsberg, interim president of New Jersey Policy Perspective, of Corzine's income-tax plan.
Even the coalition's groups, though, panned the cuts in property tax rebates.
"In hard economic times, and there's a lot of economic research to back this up, what the government needs to do is maintain spending levels in the economy. When you raise property taxes on people at the lower end of the economic spectrum, including people who may have just lost their jobs, it does not help with that goal," said Eve Bonime, of the New Jersey Working Families Alliance.
Gov. Jon S. Corzine's revised budget proposal drew qualified support Wednesday from a coalition of liberal groups who urged him to raise income taxes on wealthy households even further, while the governor fended off Republican criticism of his plans to cut off property tax rebates for another 510,000 households.
One day after Corzine proposed eliminating rebates for one year for all residents except those 65 and older or disabled, the Republican State Committee released an online ad showing Corzine in his campaign four years ago promising to fit a 40 percent increase in rebates into the state budget.
Republicans also said plans to raise income taxes on taxpayers with incomes over $400,000, including a rate of 10.75 percent on income over $1 million, could prompt the rich to move to states with no or lower income taxes.
But a coalition calling itself Better Choices for New Jersey says the tax hike should begin at $300,000 and at a higher rate.
"It is a good solid step forward," said Mary Forsberg, interim president of New Jersey Policy Perspective, of Corzine's income-tax plan.
Even the coalition's groups, though, panned the cuts in property tax rebates.
"In hard economic times, and there's a lot of economic research to back this up, what the government needs to do is maintain spending levels in the economy. When you raise property taxes on people at the lower end of the economic spectrum, including people who may have just lost their jobs, it does not help with that goal," said Eve Bonime, of the New Jersey Working Families Alliance.
Originally available at: http://www.app.com/apps/pbcs.dll/section?Category=pluckcomments&key=20090521.app.B3905210315.article.NEWS0301&s=d