Skip to playerSkip to main content
  • 2 years ago
During a town hall on Saturday, Sen. Cory Booker (D-NJ) spoke about New Jersey receiving cents back on every dollar that it pays in federal taxes.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript


Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Category

🗞
News
Transcript
00:00Alright, Zaire, what do you got?
00:04This is from teachers and people all over this country in states where they don't have
00:11the kind of resources that New Jersey taxpayers make available.
00:14What kind of crisis is this going to be?
00:16And if you're a New Jersey taxpayer, this is not the first time I'm going to say it.
00:20Because, dear God, we pay too much taxes.
00:24We do. Let's just say it.
00:26And I'm saying that to say, your federal representatives are partly responsible.
00:32Because when Donald Trump took away our state and local tax deductions,
00:37and people think this is just for affluent people.
00:41I live in a very humble home in Newark, New Jersey.
00:44My taxes, in the Central Ward, I'm the only citizen that lives in a neighborhood,
00:49if we don't mistake wealth for work, but my neighborhood is going to poverty line.
00:52And yet, homeowners in my neighborhood are still paying more than $10,000 in property taxes.
00:58This was an attack on working class, middle class Americans.
01:02Again, why? For a tax cut that went disproportionately to the wealthiest of the wealthy.
01:07And if you're a New Jerseyan, for every dollar you send to Washington,
01:11we're what's called a donor state.
01:13For every dollar we send to Washington, we get somewhere between 65 and 70-ish cents back on our dollar.
01:20In other words, we are paying for other states that get more than the dollars that they send.
01:26So what an insult to our state.
01:28And to have your property tax bills go up, because the federal government is cutting its commitment to our special needs kids,
01:35and now we have to pay more to make up for those programs, or lose them.
01:39That is outrageous. And that's why, and again, I'm going to say this over and over,
01:43this is not a left or right issue, this is a right or wrong issue.
01:47If any of our Republicans, if any of our Republicans vote on a tax plan,
01:56because remember how narrow it is in the House,
01:59if three House Republicans break with the President, this bill sinks.
02:05And we happen to have three Republicans in our delegation.
02:08And if they're going to support something that's not going to restore our state and local tax deduction,
02:15or that's going to punish middle class and working class New Jerseyans on behalf of the wealthy of us,
02:20who again, I'm never going to hate on anybody in New Jersey,
02:23I love all New Jerseyans regardless of what your income is,
02:26but the wealthy in this country are doing very well.
02:28They don't need another tax cut.
02:30And so if those Republicans stand against New Jerseyans, against special needs kids,
02:35against public education, we should stand against them in the next election.

Recommended