Under Gov’s Proposal, Super Rich Receive Tax Break; Seniors on Fixed Incomes Pay More
(TRENTON) — Assemblyman John J. Burzichelli (D- Gloucester) today issued a multimedia package comparing the “shared sacrifices” in Gov. Chris Christie’s proposed FY 2011 budget between homeowners making $500,000 and senior homeowners making $25,000 or less.
According to information contained in the budget and from the New Jersey Foundation for Aging, under the governor’s budget, the super wealthy would receive a tax break of more than $1,600, while seniors would lose more than $1,700.
The multimedia package consists of a video on the lack of shared sacrifice, audio of the same and a transcript of Burzichelli’s statement, as prepared for delivery.
The video can be accessed directly via our Web site — www.assemblydems.com — or by clicking here.
The audio file is available upon request.
A transcript of Burzichelli’s remarks is appended below:
“One of the selling points of Gov. Chris Christie’s proposed budget has been ‘shared sacrifice’ — the idea everyone has to give up something to help the state get back on its feet and return to fiscal health.
“It’s a good theory and a great sound-byte.
“Unfortunately, that’s all it is, because this budget does not contain shared sacrifice.
“Instead, it gives the super rich a tax break while increasing the tax burden on seniors on fixed incomes.
“Under the proposed budget, an individual making half a million dollars would gain a $1,630 tax break.
“At the same time, seniors making under $25,000 would lose $1,725.
“The administration claims that this budget protects the core priorities of New Jersey residents.
“But unless you are among the one percent of New Jerseyans making over $400,000, chances are you’ll be facing increased taxes and reduced services.
“We can do better.
“We should not allow the state’s finances to be balanced on the backs of our parents, our grandparents and the middle class while the wealthy reap the benefits.
“These senior cuts need to be among the first items restored.
“For more information about this year’s budget, or for help with any other questions you may have, feel free to contact my office by phone or e-mail.”
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