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MSNBC "The Ed Show" - Transcript


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SCHULTZ: And finally tonight, I"ll ask the question, whose side are you on? The battle between the haves and the have nots, well, it"s raging in the state of New Jersey, and as usual, republicans are voting for the rich folks. Today, New Jersey democrats failed to override Republican Governor Chris Christie"s veto of a bill to raise taxes for millionaires. All 33 republicans voted against the override. The bill would also have used the tax revenue to restore property tax rebates for seniors and the disabled. Governor Christie eliminated those to balance the state budget. This is really Bush 2.0 with republicans consistently coming down on the side of the very wealthy in that state. At the expense basically of everybody else.
Joining me now is Democratic Congressman Frank Pallone of New Jersey. Congressman, good to have you with us. I want to just throw this graphic up quickly here. In the budget for Governor Christie in 2011, retired couple on $40,000 a year fixed income would see an increase of over $1300 in taxes. If you make over $1.2 million in New Jersey, you"re going to get a tax cut of almost $12,000. How can this not just turn every seat in that state to the democrats? I mean, it"s very clear where the priorities are. What do you think?
REP. FRANK PALLONE (D), NEW JERSEY: Well, it just makes no sense because basically it violates shared sacrifice. In other words, we know that there have to be cuts in the state budget but don"t, you know, put all the burden on seniors or the disabled or the middle class. And give the millionaires a tax break. Remember, the millionaires paid this tax last year. So, they"re actually getting a tax cut. Meanwhile, the seniors and the disabled have to pay more. It"s just totally unfair. There"s no shared sacrifice.
SCHULTZ: So, what do you say to your constituents when they"re facing this on the home front?
PALLONE: Well, I simply say that they should, you know, contact the governor, his office and complain about it. I mean it"s still not too late. The budget I think has to be adopted by July 1st. The governor can still change his mind and go along with this and say look, we"ll give some relief to seniors and the disabled. And we"ll make the millionaires pay the same taxes they did last year.
SCHULTZ: But doesn"t this mirror exactly what the republicans are doing in Washington?
PALLONE: Oh, absolutely. I mean, the bottom line is that they"re not looking out for the concerns of the middle class. I mean, there"s so many other examples basically by pushing more and more of the burden on the property tax, in other words, there are a lot of cuts in state aid that will mean property taxes will go up for middle class people all over the state. It"s not just the seniors and the disabled. There"s also a 20 percent cut in the earned income tax credit for low income, New Jerseyans in the governor"s budget. So, everybody is basically sharing in this sacrifice except for millionaires. It"s simply not fair.
SCHULTZ: That"s who they are. Congressman, good to have you with us tonight. Thanks so much.
PALLONE: Thank you, Ed.
SCHULTZ: Tonight, on our tech survey, I asked, do you think the republicans have the guts to force Congressman Joe Barton to step down from the Energy Committee? Seven percent of you said yes, 93 percent of you said no.
That"s the Ed Show. I"m Ed Schultz. For more information on the Ed Show, go to or check at our radio website at

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