Governor Christie Defends His Income Tax Cut Plan [POLL]
Some Jersey residents want Governor to focus on lowering property taxes instead of income taxes, but Christie insists it makes sense to press ahead with his proposal to cut income taxes by 10 percent across-the-board.
Last night on Ask The Governor, Christie said said with the new 2 percent property tax cap in place, the great news is "when you apply the property tax credit that we gave folks last year - that in 2011, property taxes -actual net property taxes -went up less than 2 percent - it's actually 1-point-7 percent...if we pass shared services - and we continue to have health benefit reform phased in over the next 3 years - we're going to get to a point where I think where we're going to be near flat."
He also said the property tax rebate program has been going on "in this state for 35 years - and what's it done to help property taxes? It hasn't done anything!...All the property tax credit is -we take income tax from you out of your right pocket - we keep most of it - and we put a little bit of it back in your left pocket as a property tax credit."
Christie stressed his plan is to cut the income tax 10 percent for all workers, and increase the earned income tax credit by 20 percent for the working poor who don't even pay income taxes.
"I think any amount of money that you're not taking from people and letting them keep - is significant" said the Governor, "and we need to get our tax rates below New York's to be able to compete - especially in the central and northern parts of our state - for new citizens, new jobs, new businesses."