A Progressive-Democrat Governor and a Surtax

New Jersey’s Progressive-Democrat Governor Phil Murphy once promised to let the State’s 2.5% surtax on businesses with incomes greater than $1 million expire and then, by implication, to leave it alone. He did the first part, and it did expire. But it turns out he dissembled on the second part.

Mr Murphy and his [Progressive-]Democratic Legislature are scrambling for money even though tax revenue has increased 35% over the past five years—faster than inflation.

Mr Murphy now wants to re-impose it on income above $10 million, retroactively to the start of this year.

Progressive-Democrats are so addicted to taxing Americans and our businesses that their promises to lower taxes or to leave alone existing taxes are worthless. Which calls into question the value of any other of their promises. Indeed, their addiction is so powerful that they’re not capable even of saying the words “cut spending,” much less actually doing so.

Maybe Murphy’s renewed surtax will hit only the wealthiest businesses, many based in other states, hard enough to persuade those in New Jersey to relocate to more business—and average American—friendly locations and persuade those based in other States to reduce or forgo doing business in New Jersey.