Magazine August 16, 2010, Issue

The Scourge of Trenton

(Henny Ray Abrams/AP)
New Jersey governor Chris Christie is winning a war for fiscal sanity

It was supposed to have been the biggest fight of Chris Christie’s young administration: a May showdown over what Democrats in Trenton were calling the “millionaires’ tax,” designed, like each of the 115 statewide tax increases of the last decade, to paper over a small part of a yawning structural deficit by soaking the rich, one last time. Never mind that half the filings and a third of the revenue from the tax were to come from New Jersey’s business community, already battered by a perfect storm of overtaxation, capital flight, and recession. The Democrats were loaded for bear, and

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