Lonegan’s tax cut plan will reduce income tax rates for single filers making over $35,000 a year and couples over $70,000 a year. Coupled with property tax reductions from overturning the Abbott decision, more than 75% of all taxpayers will pay less to the government under the Lonegan tax cut plan.
As for Steve Forbes, he also endorsed the bailouts.
The only candidate Corzine fears is Lonegan. Which is why all the lib papers are declaring Christie the preemptive winner. Reminds me of the love affair between the NYTimes and McCain.
I need to ask you a question. If someone that makes a lot of money pays the state of NJ, say, 50,000 (assume 5% of a million). Another person pays $2,000 (assume 5% of $40k). Both people pay the same rate, right? Do you believe that is unfair? If so, who got hosed, the person making $1m or $40k?
Christie is a typical machine politician. He has lined up all the usual suspects, including JulieAnnie and Tom Kean to support him. They are hardly conservatives.
His flat tax plan is similar to what Forbes proposed when he was running for President in a primary a while ago. A flat tax plan is one of the best solutions to the state’s and the Nation’s fiscal woes. I worked for IRS, I KNOW. A flat tax would END the kind of fiscal shields the very affluent can afford to sequester their assets from taxation. It would reduce the size of the tax gathering buearocracy. It would end the gravy train for well-paid tax attorneys and accountants.
Forbes, like Christie and the usual cast of characters in New Jersey may be FISCAL conservatives - like Lonegan is, but they are ALSO social Liberals. Lonegan is a social conservative.
Christie and Lonegan both have problems. Mainly they are Republicans in a state whose demographics over the years have been altered by an influx of liberal Democrat refugees from New York City, fleeing the social and economic mess they created with their voting patterns in the Big Apple. Now they have brought that same voting pattern and that same mess to New Jersey.
Christie has some skeletons in his closet which Lonegan has superficially aluded to. We can be sure the Dems will go into them in depth in the event he is nominated. They will make an issue or try to make one of Lonegan’s social positions if he is nominated.
In all probability the idiot Corzine will try to get Corry Booker, the popular black mayor of Newark to run as his Lieutenant Governor. If he does, he will get all the minority votes in Hudson, CAmden, Essex, Middlesex, Mercer, and Passaic Counties and wrap up the election.
My guess is regardless of who wins the primary, Corzine will use the people who suck the system to get re-elected at the expense of the people who feed the system.
Its just basic math and the polling reflects it. The people who work and pay taxes in New Jersey are probably outnumbered by people on the public dole in one form or another.
The effect is twofold. One, on the $20,000/yr income, it is a tax of about $11/week, and it broadens the tax base, generally considered a fair tax rationale. On the other hand, I’m not sure why YOU don’t “like” the tax plan and would appreciate more information, since you’ve posed it in a personal way, yet dealt with the issue like an opposing politician.
I said twofold and there were two, but related. The real second is the one of skin in the game, by which I mean that a taxpayer is now among those whose opinions are validated by their participation: they will be interested in seeing costs cut, government spending decreased so that the flat tax can be lowered until there is no income tax at all.
Meantime, the upwardly mobile among the $20K/ann workers will be looking forward to the day when the difference between the flat tax and the current tax is in their favor and with businesses returning to the “open for business” New Jersey, that day will no longer be infinitely far off.
As to what is fair, that is a pretty fundamental issue, and within the framework of Conservatism or even conservatism, there is not much from Das Kapital (where the progressive income tax was heavily promoted as fair) that we can agree on.
I think it’s already fair that a person who earns $500,000 pays 2.9%, or $14,500 to just NEW JERSEY. It is not up to you or the government to regulate the oeuvre of wealth-creation as a matter of public policy, and I sincerely doubt there will be any personal benefit to that taxpayer at all as a result of that tax.
One more thing we strongly disagree on is the Corzine would love to run against Lonegan. We got sold that bill of goods with the media selection of McCain “FOR” us. Not buying it again.
“I don’t like the Lonegan flat tax plan. The way it is structured it raises taxes on singles making as little as $23,000 per year and for couples making $67,000 per year. It lowers taxes on those making $500,000 by almost $14,000 per year. How can he call that plan fair. Christie wants to lower taxes for all groups. Thats why I am voting for Christie. Christie also has the support of solid conservatives like Steve Forbes and Chris Smith.Corzine would love to run against Lonegan because he is an extremist who would be defeated in a landslide whereas Christie can win in this very blue state.”
DUDE YOU ARE SUCH A TOOL AND AN OBVIOUS CHRISTIE PLANT!...
dude it only raises taxes on the lowest income bracket by 300 dollars...they will get that money back with the federal earned income credit...
the money saved by the innovators and producers of nj will ignite the prosperity engine...christie has no plan...