Oh. It's New Jersey. The "Whadda you lookin' at?" state.
Posted on 01/27/2006 7:27:42 AM PST by randita
Posted on Fri, Jan. 27, 2006
Corzine advisers calling for taxes
Their transition report has outlined unpopular budget solutions. N.J. lawmakers joined in a chorus of boos.
By Kaitlin Gurney Inquirer Trenton Bureau
TRENTON - Expand the sales tax to include clothes and online purchases. Tax 401(k) retirement accounts. Raise the gas tax. Consider a temporary increase in the state income tax.
With New Jersey's finances "perilously close to ruin," Gov. Corzine's budget advisers have recommended these unpopular solutions and more to fill what they estimate to be a $6 billion hole in the state's budget.
The grim transition report advises the Wall Street financier-turned-governor to immediately prepare plans to lay off state workers and cut government services. It also suggests that Corzine develop ways to control skyrocketing costs for pensions and schools - including raising the state's retirement age and revisiting funding for needy Abbott school districts.
"In two short decades, under both Democratic and Republican administrations, the state has gone from a financial powerhouse to a financial basket case," states the report, obtained first by the Press of Atlantic City. "While the road to decline was often paved with good intentions, the results are alarming."
Indeed, according to the six-page paper, the state faces a cumulative debt load of nearly $30 billion because past governors borrowed money to mask financial problems.
Corzine must contribute $1.2 billion to state pension funds this year just to keep them solvent, and state funds for roads, schools and open space are nearly bankrupt.
"Clearly, sacrifices will have to be made. Pain will have to be shared. There must be the political will to make substantive, structural budget changes," the report warns.
While lawmakers are fond of blaming the opposing party for the condition of the state's $28 billion budget, they universally condemned the solutions the Corzine advisers outlined.
Senate President Richard J. Codey, who as governor cut property-tax rebates but rejected suggestions to expand the sales tax and tax 401(k) accounts, said the recommendations were politically impossible.
"Now, if we do all that, who would that leave that wouldn't be pissed off at us?" the Essex County Democrat asked.
Republicans were no kinder. State Sen. Diane Allen (R., Burlington) said she hoped Corzine would "take parts of the report and throw them away," while Senate Minority Leader Leonard Lance (R., Hunterdon) said spending must be cut before tax-increase proposals would be entertained.
"New Jersey is at a tipping point," Lance said, noting that residents are already burdened with heavy property, business and income taxes. "Our residents are moving to Pennsylvania and beyond, and new taxes would exacerbate an already difficult situation."
Administration officials confirmed that their advisers had written the report, but cautioned it was a draft and that final transition reports would be released later. After winning election, Corzine consulted with a team of fiscal experts including former state treasurers and Rutgers University professors.
Corzine is expected to outline his state budget to the Legislature in March. He has selected a former associate from Goldman Sachs, Bradley Abelow, to serve as state treasurer. Abelow started work Monday.
The otherwise dour paper ends with a personal message, telling the multimillionaire Corzine that he is "a uniquely qualified governor serving at a unique time. You possess a deep knowledge of financial markets and the business community, and have expressed independence and the political will to do what's necessary and right."
Even if Corzine rejects his advisers' advice, it is important for the tax-increase and spending-cut proposals to be aired publicly, fiscal watchdogs said.
"Absent money trees sprouting on the Statehouse lawn, we have to come up with additional revenues to plug a budget deficit amounting to some $6 billion, and we need to talk about our options," said Bill Dressel, executive director of the New Jersey State League of Municipalities.
Jon Shure, president of New Jersey Policy Perspective, a liberal think tank in Trenton, said New Jersey's fiscal situation had so deteriorated that "nothing is too outrageous to consider."
"The public can handle this debate," he said. "Having all of this out there is a good thing. For one thing, maybe in comparison, the options he picks won't sound so bad."
Contact staff writer Kaitlin Gurney at 609-989-7373 or kgurney@phillynews.com.
(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")
I don't have the info handy, but a low percentage of people actually turned out to vote. That's not to say the election would have had a different outcome, but many residents of this state are about to find out how costly that decision not to participate will cost.
We made a promise to our son and ourselves not to move, transfer, or otherwise disrupt his high school education.
Pete's Wife's husband, because of transfers, attended four high schools. It was miserable.
Pete's Wife's husband visited Granbury, TX just after Christmas. He was very impressed with the friendliness of the citizenry, and blown away by the price of housing.
It's a possibility...
But we're stuck in this mess 'til '09.
This is great. Just what we need here in Eastern Pennsylvania, more Nazi Jerseyians.
Guess Gov. John has a few more women to keep and would just as soon not use his own dimes.
Bill Clinton proposed a ONE TIME tax of 15% on all retirement accounts, remember that one??
If you had 100,000 in an account, you were supposed to send the feds 15,000. The Dems love taxing the "rich".
Yes, now that you mention it, I do.
God, what a dreadful idea.
What's that number from the Taxpayer Foundation or is it the Fed, that the top 20% of taxpayers ante up 80% of all taxes; while the bottom half pay about 4%. Are you familiar with those numbers?
Good Lord, who needs tax relief more? The folks paying 80 cents of every tax dollar collected, or the folks who pay practically no taxes at all? Simple answer.
If your son is in a good school, then by all means, stick to your plan.
My daughter just found out that HS did not prepare her well for college. She was in a good school, had a GPA of 3.8, but fell to a 2.5 for her first semester of college.
When she tried to put a "happy face" on it, saying her friends were even lower, I pulled out my copy of Animal House and showed her the scene where Dean Wormer is kicking the Deltas out of school:
"Mr. Kroger, you're at the top of your Delta Pledge Class with a 1.0 GPA."
She wasn't smiling...nor I. The law has been laid down: 3.5 or better this semester, or it's community college next year...no car...no sorority...zip...zero...nada...
I was fortunate, because college was paid for by the Army (ROTC). I had to earn it, though. I ended up with a Bachelors' in Public Accounting, over 140 semester hours, and averaged 15 hours a week in ROTC commitments. I learned fast that Gonzaga was a demanding school. There was plenty of time for partying, but most everybody worked hard before they played hard.
Her mother had it even tougher: worked fulltime and paid for her own college. She had to, because she was one of 10 kids.
Accordingly, every excuse or happy face will be knocked out of the park like a Chan Ho Park fastball at The Ballpark in Arlington.
My brother has already moved to TX and I might not be far behind him.
It must be nice to be all all knowing.....
Thanks!
College was a struggle for both of us. Our son is in a good (by govt. school standards) one, and is doing very well.
If I have my way, he'll go to Hillsdale College. We'll see...
Oh. One VERY important question: Is there a dirt track for stock car racing in your area?
If not, I'll just stop when I get to Harrisburg, PA and live there!
Thanks again!
Pete's Wife's husband
To all those ash holes in New Jersey who voted for corzine and helped put an extortionist in the senate: In the word of Nelson Mundt, "Ha Ha!".
While I applaud your decisiveness; I'd urge you to reconsider your decision. If she fails to live up to the letter, you'll be obliged to throw her to wolves.Literally
The bottom of the worst wind up in the community college system in NJ. Otherwise good kids can go bad under the prevailing ethos dominated by shiftless, apathetic discards of broken homes, apathetic faculty and alienated part-timers. I used to teach in some of those places. They function well for mature, motivated adults, but are no good for kids.
Consider a religious school and regard the financial strain as sound investment and a more compelling threat--from her perspective.She is worth it.
She's currently in a dorm (at UNT (Denton))...having to return home is probably the biggest "arrow in the quiver." Especially since she wants to reside in the sorority house next year.
I'd love to send her to U of Dallas (Jesuit), but the cost is prohibitive, even with financial aid (net $20,000/year).
She's a great kid, and I'm proud of her and what she's accomplished so far. And I think she'll learn from her mistakes. When she puts her mind and heart into something, she excels at any task she's given.
I stand corrected.
I didn't realize you were in Texas. They do things a little different than here.
Sounds like she's got a hard-ass dad, so she'll do allright.
All my best,
Tom
"While the road to decline was often paved with good intentions, the results are alarming."
Good intentions = Liberalism. It's too bad results don't depend on good intentions.
On the other note, Corzine consulted with former state treasurers and Rutgers professors. Why would you want to consult with the people who got you in the mess, and a bunch of liberal professors full of "good intentions"?
Oh. It's New Jersey. The "Whadda you lookin' at?" state.
Wow. Didn't see this one coming.
Three-and-a-half more years????? For high school?
Other states have high schools, you know. For what you're gonna cough up the next 3.5 years, you could buy your own high school.
Or buy the kid an RV to live in near campus and move.
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