NEIL: ALL RIGHT I'M NOT A LAWYER
BUT OBVIOUSLY NEW YORK AND NEW
JERSEY, CONNECTICUT, HIGH TAX
STATES ARE LAWYERING UP TO SUE
THE GOVERNMENT OVER THE TAX PLAN
THAT IS ALREADY THE LAW OF THE
LAND TOOK EFFECT JANUARY 1 WHILE
THE INDIVIDUALS START SEEING TAX
CUTS PRESUMABLY IN CHECKS THAT
THIS TO SHARE THE WEALTH.
WE'VE NOT NEW JERSEY'S NEW
DEMOCRATIC GOVERNOR PHIL MURPHY
PROMISING THAT HE IS STILL GOING
TO GO THROUGH WITH THE TAX ON
MILLIONAIRES EN HIS STATE.
HE COULD BE FACING SOME
OPPOSITION FROM HIS OWN
DEMOCRATIC STATE SENATE
PRESIDENT.
>> IS HE ADVOCATING WHAT HE
ADVOCATE ON THIS THE MILLIONAIRE
S TAX?
>> WELL, HE'S TALKING ABOUT THAT
RIGHT NOW, BUT EVER SINCE THINGS
HAPPENED IN WASHINGTON, YOU KNOW
I BASICALLY PUT A PAUSE ON
MOVING FORWARD RIGHT NOW WITH
THE MILLIONAIRES TAX AND
SOMETHING I ACTUALLY VOTED FOR
SEVERAL TIMES BUT NEIL THINGS
HAVE TO CHANGE IN NEW JERSEY AND
I MEAN, THEY HAVE TO CHANGE IN A
BIG WAY.
WE'RE GOING TO LOOK AT
EVERYTHING AND PRETTY MUCH HAVE
TO BLOW THE SYSTEM UP AND START
OVER.
NEIL: ALL RIGHT, NOW KEEP IN
MIND NEW JERSEY'S ONE OF EIGHT
STATES WHERE THE DEMOCRATS HAVE
THE RUN OF THE TABLE IN OTHER
WORDS THEY CAN VOTE BOTH BRANCH
ES OF LEGISLATIVE
GOVERNMENT AND THE READ ON ALL
OF THIS FROM FORMER NEW JERSEY
REPUBLICAN GOVERNOR.
THANKS FOR TAKING THE TIME.
WHAT DO YOU MAKE OF THIS IT SEEM
S TO BE A LITTLE BATTLE
GOING ON IN THE FAMILY BUSINESS
HERE.
YOU HAVE A STATE SENATE
PRESIDENT WHOSE LOOKING AT THIS
AND SAYING, YOU KNOW, THIS IS
NOT THE ENVIRONMENT TO INCREASE
TAXES ON ANYONE, EVEN THE RICH
IN OUR GARDEN STATE.
WHAT DO YOU SAY?
>> WELL FIRST OF ALL I THINK
HE'S RIGHT.
WE ARE THE MOST HIGHLY TAXED
STATE IN THE NATION AS FAR AS
PROPERTY TAX AND WHAT THE NEW
TAX LAW HAS DONE IS NOT GOING TO
MAKE THINGS EASIER AND IF YOU
RAISE THE MILLIONAIRE TAX THOSE
ARE EXACTLY THE PEOPLE WHO CAN
MOVE AND UNFORTUNATELY, MOST OF
STATE BECAUSE THEY LOVE THE
QUALITY OF LIVING THERE AND THEY
WANTED TO LIVE THERE AND THEY
THEY'RE GOING TO TAKE SOME OF
THOSE JOBS WITH THEM AS WELL.
NEIL: DO YOU EVER WORRY THOUGH
AT I KNOW THE HOPE IS FROM
REPUBLICANS, GOVERNOR, THAT
THESE HIGH TAX STATES CHANGE
THEIR WAYS, THAT ALL OF A SUDDEN
THEY LOOK AT THEIR SPENDING AND
WHY THERE'S SUCH HIGH TAX STATES
TO BEGIN WITH.
I DON'T THINK THAT'S GOING TO
HAPPEN BUT WHAT DO YOU THINK?
>> WELL I THINK IT'S VERY HARD
BECAUSE IN NEW JERSEY THE
AVERAGE PROPERTY TAX IS OVER
8,000 DOLLARS.
WHEN YOU KNOW YOUR DEDUCTION NOW
FROM THE FEDERAL TAXES THAT
COMBINED WITH YOUR INCOME THAT'S
GOING TO MAKE IT VERY HARD FOR
PEOPLE TO STAY IN THE STATE, BUT
THE STATE DOESN'T CONTROL THE
PROPERTY TAX.
THAT'S DETERMINED AT THE LOCAL
LEVEL.
SO IT MAKES IT VERY HARD FOR THE
STATE TO COME IN AND SAY WE'RE
GOING TO FIX THIS PROBLEM
BECAUSE THE ONLY WAY YOU CAN
REALLY DO THAT IS BY PROVIDING
TO SPEND MONEY.
NEIL: BUT THAT'S JUST PART OF IT
GOVERNOR BECAUSE THE STATES
THEMSELVES LIKE NEW JERSEY, NEW
YORK, CONNECTICUT, ILLINOIS,
CALIFORNIA, THEY HAVE HIGH STATE
TAXES TO BEGIN WITH, SO I'M JUST
WONDERING WHERE THIS GOES
BECAUSE SOME OF THEM ARE TRYING
TO GET CLEVER WITH THIS AND NEW
YORK THERE'S A MEASURE ON THE
TABLE TO MOVE THAT TO PAYROLL
STILL CAN AND THEY CAN TRY THAT.
OTHERS ARE SAYING MAKE IT A
CHARITABLE CONTRIBUTION, I DON'T
KNOW WHAT'S LEGAL OR SOUND OR
RIGHT BUT I DON'T SEE ANY OF IT
HAPPENING BUT WHAT DO YOU THINK?
>> WELL WHAT WE REALLY HAVE IS A
SPENDING PROBLEM.
ITS NEVER BEEN REALLY ABOUT AN
INCOME PROBLEM IN ANY OF OUR
AND I REDUCED THE INCOME TAXES
BY 30%.
HAD HAD UP TO THAT POINT AND OUR
PENSIONS AT THAT POINT WERE EACH
OVER 100% FUNDED AND WE HAD A
LARGE RAINY DAY FUND AS WELL AND
THAT CAME AFTER WE HAD CUT TAXES
FOR PEOPLE.
YOU HAVE TO BE CAREFUL YOU HAVE
TO BALANCE THAT.
YOU HAVE TO BALANCE YOUR
SPENDING.
NEIL: ARE YOU SURPRISED THAT THE
NUMBER OF COMPANIES, GOVERNOR,
DOING WHAT THEY'RE DOING,
SHARING THE LOOP, THE WEALTH,
WHATEVER YOU WANT TO CALL IT,
WITH WORKERS, IN CASES OF SOME
UTILITIES, WITH CUSTOMERS, THAT
THE CUSTOMERS BUT I'M AFRAID
IT'S ONLY ONE-TIME.
I DOUBT YOU'RE GOING TO SEE
THERE'S A CONTINUOUS THING AND
WE WOULD HOPE IT WOULD BE BUT
I'M SKEPTICAL.
NEIL: ALL RIGHT WE'LL WATCH
CLOSELY GOVERNOR THANKS FOR
TAKING THE TIME.
CHRISTINE TODD WHITMAN, BIG
CHANGES IN NEW JERSEY WITH THE
DEMOCRATIC LEGISLATURE BUT SIGNS