Posted by
rycK on Friday, December 12, 2008 11:02:32 AM
The NYT Advises NJ on Debt and Taxation:
Keep on Spending and Taxing
The New York Times—aka
the Walter
Duranty Papershas
an all-embracing and tortuous history of apologizing for Communism, lost politics relics from
the socialist era, and maudlin laments
over lost taxes. There is no substitute
for socialism or one of its nastier congeners so today we are educated on the
solution to New Jersey’s financial problems.
The Times
and its satellite bankrupt ragzines cannot seem to correlate high taxation with
the loss of business, fleeing citizens, debt and the rusting of societies. This
is a mental disorder.
The chimes of times past ring from
Maximum Tax John:
“Gov. Jon Corzine wants to shore up his
state’s troubled finances by sharply raising tolls. If he gets his way, the
cost of driving most of the turnpike could eventually rise from $5.85 to $48,
providing money for both debt reduction and public transportation.”
An echo from the graveyard by
Snake:
“In 1993, Clinton campaign strategist
James Carville announced that the off-year governor's race in New Jersey between incumbent
Democrat Jim Florio -- who had raised taxes in 1989 -- and his challenger
Christine Todd Whitman -- who called for a 30 percent across-the-board
income-tax cut -- would be the burial ground of Republican advocacy of tax
reduction.”
This is
typical of the form and substance of tautological howling we have learned to
expect from the Times. High taxes are the only solution! Well, why not raise
taxes in California and New Jersey and Michigan and bail out the auto business
and heal the states?
Today we read:
“It was only last year that Gov. Jon Corzine
of New Jersey was calling for a major, and hugely unpopular, increase in turnpike tolls. …cut in
half the state’s $30 billion budget shortfall, caused in large part by the underfunding
of public-employee pension funds.”
Now Mr. Corzine is pushing a
proposal that in the short term would make the pension problem worse.
Unfortunately, given plunging revenues, he has no choice”—NYT Editorial
Deeper in Debt Published: December
12, 2008 [All
quotes references this link in this blog unless otherwise noted. [Emphasis is mine in all quotes.]
Let us
see if the Times,
near bankruptcy itself, can wonder if salaries for public employees are too
high and that benefits are astronomical and that the ‘government’ in NJ is a
joke in terms of efficiency. Most of this was obvious to me.
“New Jersey’s pension debacle
dates back to the late-1990s when the state stopped contributing to the funds
entirely and used the money for operating costs. Politicians told themselves
that the funds’ investments in an ever-rising stock market would make up the
difference, and they did — until the market dropped a few years later. This
fall the funds took another major blow, losing more than a quarter of their value.”
And the pensions:
“We agree with Mr. Corzine that large property-tax increases would strain
many homeowners already struggling to pay
their mortgages, which could lead to additional foreclosures. He is right to
require towns to resume their full pension payments in 2012 when the economy, presumably, will be stronger than it is
now.”
“The state will also have to further increase the turnpike tolls, with the added revenue going to the pension funds. Without
tough, and politically difficult policies, New Jersey will never dig out of
its debt.”
Not a hint about the unions giving anything in
salaries and benefits! The stogy stance
of the unions just killed off the Detroit Bailout deal last night. The UAW would
NOT agree to any concessions! No layoffs or trimming down on their phony social programs?
No givebacks No way No how. And support from their bribees:
“Senator Debbie Stabenow (D-Mich.) took a harsh and
emotional tone with Republicans who voted against the bill. "Evidently the
only thing that matters to those on the other side of the aisle is that workers
make too much money," she said.”
This is just the beginning. The politicians
are spoon-fed by crooked greedy unions who have their claws and fangs fixed
securely in many American businesses. They have the mentality of a ghoul. Those
CEOs and boards who must deal with these unyielding Neanderthal parasites must
think about shutting down their businesses and moving off shore or getting into
something else.
There
is no hope given the attitude
0f the unions and their stooges at the New York
Times.
CA is next and they are hopelessly buried in
unionism and EcoNazism. They could consume over 150 bln a year in handouts,
some 1% of what used to be our GNP.
But, in a last moment’s insanity, the Idiot
Bush, a loser like his stupid father, might get some money to waste in the
bailout.
Grunt
and Grab
rycK
Comments
to: ryckki@gmail.com
http://www.hoover.org/publications/policyreview/3582551.html