I will protect your pensions. Nothing about your pension is going to change when I am governor. - Chris Christie, "An Open Letter to the Teachers of NJ" October, 2009

Wednesday, March 31, 2010

Math Fail

So the Star-Ledger looks at Christie's FICA rebate plan. Montclair will get about $70K back because the teachers there have agreed to a freeze that will save $900K.

As I pointed out before, however, the state will lose out on the income tax that would have been collected on that $900K. Assume a conservative 5%, that's $45K. He really can only afford to give Montclair $25K. Where's the rest of the money, Gov?

And if you've got it, why aren't you using it now?

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