Letter To Star Ledger : Corzine Making Big Mistake

Letter to the Star Ledger: Gov. Jon Corzine’s $29 billion fiscal 2010 budget contains more than $1 billion in tax hikes. Virtually all New Jerseyans will be paying more taxes during a period of rising unemployment, foreclosures and bankruptcies. There is one word to describe this policy: dumb. During the Great Depression, President Herbert Hoover raised income and other taxes, helping turn the economic downturn into a deep depression. After running on a fiscal conservative platform during the 1932 presidential campaign, FDR too raised taxes during the 1930s, turning the Great Depression into a multi-year slump. Corzine is making the same mistake of both Hoover and FDR. Raising taxes during a major economic downturn is the wrong medicine to deal with the slumping economy. Read full Star Ledger article here.

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3 COMMENTS

  1. same with our so called "republican" congressman Chris Smith who was one of the 8 repubs to vote for cap and trade energy bill which would raise taxes for the struggling nj famalies shame on him.

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