What is New Jersey's Definition of a "Penny"?

After Corzine & Company were able to "sell" the 17% sales tax increase as a "penny increase" on the Jersey public -half of the newly raised money will go to the state union employees' pension of which Corzine's (ex) girlfriend runs, other Democrats are now trying to use the same language to sell more tax increases.

Raising the income tax is a better idea (than selling state assets) because:

"...a penny increase on each $1 or $2 earned, depending on income would generate at least $2.7 billion per year."

-Assemblyman Louis Manzo (D-Hudson County)

These tax and spend people will soon realize that govt's can't just tax and tax and tax. Eventually people will change their behavior. I predict that the estimated $1.1bln in new sale tax revenue will fall short as Jerseyans will buy their goods and services elsewhere. I predict that if the govt decides to increase the income tax, even though one of Corzine's campaign promise was not to, that more income earning Jerseyans will either cheat on their taxes or move out of the state. Odds are good that Corzine will violate this campaign promise as he broke other campaign promises within days of becoming governor.

As for the Corzine/Codey desire to start selling state assets to fund the state employee union pension, it would be more economical and efficient to just deposit state assets into their pension funds than to first sell state assets and deposit the proceeds. The state should just sign the NJ Turnpike and other assets over to the state employees. The state would avoid the transactional costs associated with such a sale.

Fire sale

NJ is looking more and more like a person that has been living beyond their means and needs to start selling their cars, furniture and eventually the shirt off their backs!