Christie Would Be At 0% If Anyone Was Paying Attention

It is difficult to believe anyone reading this blog would still support Chris Christie after watching the youtubes below from his latest town hall meeting in Myrtle Beach, SC. If you were inclined toward Christie because you…

  • oppose the power of public sector unions there is Walker;
  • want to hear what is supposed to be straight talk there is Trump;
  • are part of the Bush-donor machine there is a Bush; or
  • are a public employee (enough said).

Now for the rest of you.  Do you like your jobs?

Proof that nobody may be listening anymore:
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which was part of his spiel on entitlement reform:
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that he immediately had to lamely defend:
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before proceeding to lay out his tax-reform plan:
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Did you get that?
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Deductions for mortgage interest and charitable contributions. That’s it. No more deductions for….

  • Property taxes;
  • Medical expenses and health insurance;
  • State income taxes;
  • Educational expenses; and
  • 401(k) and possibly all pension expenses.

There goes my job and I suspect many of yours (especially if you are accountants). Another stupid idea with no thought of consequences that Christie will stubbornly stick with until such time as the people who bought him tell him different.

22 responses to this post.

  1. Posted by Anonymous on July 23, 2015 at 1:13 am

    more bullshit than any man alive

    Reply

  2. Posted by Tough Love on July 23, 2015 at 4:43 am

    Christie is shooting the very tiny chance he had via his support of killing all of your bulletted deductions because, while most may not be important to those with annual taxable incomes exceeding $500K, they are very popular by BOTH D & R voters at all other income levels.

    ——————–

    And yes, Scott Walker for President … for exactly the reason you stated. The Public Sector Unions must be neutered.

    Reply

    • Posted by Anonymous on July 23, 2015 at 7:27 am

      And to finish, that’s why a D will remain in the White House – enough said.

      Reply

      • Posted by Tough Love on July 23, 2015 at 11:31 am

        No, It just means that it won’t be Christie.

        Reply

        • Posted by Anonymous on July 23, 2015 at 12:54 pm

          We’ll see, most of the R’s are too extreme to sway the mainstream and swing vote D’s.

          Reply

          • Posted by Tough Love on July 23, 2015 at 1:59 pm

            It’s been 4 years since the last round, and Taxpayers EVERYWHERE have wised up as to the extent of the underfunded Public sector pensions and how it is not due to the lack of a will to fund, but the INABILITY to find sufficient funds because of the VERY high cost …. and now better understanding that the ROOT CAUSE is the grossly excessive, unnecessary, unjust, unfair (to taxpayers), and unaffordable Public Sector pensions and benefits.

            And with it being the Public Sector Union campaign-contribution-BOUGHT-OFF Democrats at the helm, I believe a LOT of people are voters are sufficiently fed up to change sides and vote Republican this time.

          • Posted by Anonymous on July 23, 2015 at 2:05 pm

            I dont agee but we’re all entitled to our opinion…… The end result is what matters? Time will tell.

          • Posted by BH on July 23, 2015 at 10:35 pm

            No…just you TL

          • Posted by Anonymous on July 24, 2015 at 4:59 pm

            TL – How could you possibly say, “… it is not due to the lack of a will to fund, but the INABILITY to find sufficient funds because of the VERY high cost ….”

            There is no will to fund by this administration. Christie has made zero attempt to fund the pensions. He has made no cuts, no adjustments to any state department budget or programs whatsoever. Would they amount to the $Billions needed – no. But they would show some attempt an a will to do the right thing.

            Instead we are paying the bum to run for President while he isn’t even here. We continue granting tax breaks to companies that don’t need them. How much to Lockheed Martin? And I see where they just bought another company for $9B. Yeah, they needed a tax break from NJ.

          • Posted by Tough Love on July 24, 2015 at 6:12 pm

            Anon,

            Well ………….. (A) considering that NJ ALREADY has the 1-st or 2-nd highest taxes in the nation and ALREADY has seen an increase in the exodus of businesses due to that taxation (and a difficult business climate), I interpret THAT to exclude increasing taxes as a reasonable option.

            And it’s not Christie, but (B) the Democratic Legislature that is not willing to reduce services. They incorrectly see tax increases (mostly on “millionaires”) as the only option.

            The “INABILITY to find sufficient money” is indeed there …. and due to (A) and (B) above.
            ——————————————-

            State competition for Corporate re-location (or just to not more OUT of State) is indeed a BIG problem for States with a high cost of living and/or a high cost of labor, and unfortunately NJ has BOTH problems. It not whether a Company “needs” the money, it’s simply a wise Business Decision …. whichever State comes up with the most attractive package gets their business.

            Keep in mind that intelligently designed incentives have a net POSITIVE for the Sate offering them

    • I do not disagree with Christie at all. In fact, as someone with a modicum of accounting experience, if it were up to me I would eliminate ALL individual deductions and exemptions and dramatically reduce the tax rate (for those earning less than $250K). You would be able to submit your 1040 on a post card which would allow the IRS staff to be reduced by at least 50%. Agreed that would also eliminate the need for all the HR Block folks and all manner of expensive tax attorneys, but that is small price to pay to straighten out our ridiculous tax code.

      I would also eliminate payroll taxes on the first $10K of wages and increase the SS wage base to whatever level it would take to make up for the low wage exemption. That would encourage more hiring at the low end. And for “C” corps and related I would also eliminate all deductions except direct payroll and payroll taxes. More IRS staff reductions.

      Reply

      • Posted by S Moderation Douglas on July 23, 2015 at 7:19 pm

        True. Why leave mortgage interest and charitable donations?

        Reply

      • Posted by Anonymous on July 23, 2015 at 7:22 pm

        Cool, guess you’re retired or close to it so as an accountant you don’t mind leaving your colleagues in the dust. Well that’s me too so fire away.

        Reply

      • Posted by Anonymous on July 23, 2015 at 7:31 pm

        Agreed and lets not leave wall street out of it, elimate capital gains – ahhhhh!

        Reply

  3. Posted by S Moderation Douglas on July 23, 2015 at 9:25 am

    “There goes my job and I suspect many of yours”

    Didn’t we have this discussion not so long ago when discussing unemployment/welfare, etc.?

    Seems like it was BH who said there are many private sector jobs that are unnecessary. There have been other politicians in the past pushing for “filing your taxes on a postcard”. That would put a lot of private ….and….. public sector workers out of a job. But, if it’s a job that doesn’t really need to be done, aren’t we all better off?

    It’s somewhat related to the loss of jobs due to automation. Hey! It’s a GOOD thing, as long as we use the savings from automation (or tax simplification) to support those who were displaced, instead of throwing them under the bus.

    http://www.theatlantic.com/magazine/archive/2015/07/world-without-work/395294/

    Reply

    • Posted by Anonymous on July 23, 2015 at 9:51 am

      The tire tracks run so deep don’t know if they’ll ever go away, LOL.

      Reply

    • Posted by Tough Love on July 23, 2015 at 11:42 am

      Quoting S Moderation Douglas … “But, if it’s a job that doesn’t really need to be done, aren’t we all better off?”

      The man charged with structuring GM’s bankruptcy, early-on asked ……… why am I paying the guy who cuts the lawn $65/hr in pay & benefits, referring to his “Union” (UAW) position.

      My point is that it’s not just the jobs that don’t need to be done, but the ones for which we are pay WAY more than necessary ….. due to the demands, and threats of the Public Sector Unions, and of course the cooperating Elected Officials who go along so that the Public Sector Union campaign contributions and election support will keep flowing.

      Reply

  4. Posted by Jim Buettner on July 23, 2015 at 9:58 am

    Willie Loman was a down on his luck character in the play: Death of a Salesman. He never resorted to robbing banks. It was Willie Sutton who robbed banks! CC needs to fact check his handlers. Wonder how many people in the audience paid enough attention to catch his misquote? Probably 0%. They are there to only drink the Cool-Aid that he is serving up. The truly sad fact is that the Reps and Dems have robbed from the “Bank of NJ” for so long that now there is nothing left but for the taxpayers to foot the bill again.

    Reply

    • Posted by Anonymous on July 23, 2015 at 10:43 am

      Wow. good catch Jim. This is just another exposure of who Christie is willing and able to spout lies and inaccuracies to attain what he wants. Sickening but expected

      Reply

  5. Posted by TampaJoe on July 26, 2015 at 12:17 am

    Perhaps it’s time we try being Patriots, and make change for the good of our country, not always worry about our stuff. The ONLY to stop the big government beast that is devouring our American freedom and rights is to starve it of money. The only way to do that, after recent Supreme Court rulings, eliminate all deductions and move to low flat tax. I’m nit a Chris Christie fan, but now support illuminating deductions and moving to a low flat tax rate.

    Reply

  6. […] sector, derailing Christie’s presidential bid will be a priority since he got behind that flat-tax silliness which would threaten the pension deduction and I don’t have twenty years to wait for him to […]

    Reply

  7. […] and giving his entitlement reform spiel – no video link on the CBS website since there was nothing new and people either don’t want to hear it or understand that Christie is getting it […]

    Reply

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