RealClearPolitics - From New Jersey to Beijing and Back Again
by Larry Kudlow
Some lately-breaking advice was delivered in New Jersey Monday afternoon on the tax front. Democrats there failed in their efforts to override Gov. Chris Christie's deny of the millionaire tax. Manage no boo-boo: This is a big win for GOP maverick Chris Christie, and a big win for meagre, tea-celebration-inspired superintendence. This fib has federal choice implications.
The Democrats needed two-thirds of the erection, but without Republicans they couldn't do it. This ill-conceived tax on gains over a million bucks would have hit severely 16,000 households at an anti-success 10.75 percent reckon.
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