On Wednesday’s broadcast of CNBC’s “Squawk Box,” New Jersey Gov. Phil Murphy (D) said that he thinks it’s sensible for 2024 Democratic presidential candidate Vice President Kamala Harris to argue for “fairer tax rates” but “I don’t know what the right number is” for what would be a fair tax rate.
Co-host Joe Kernen asked, “So, Governor, just, if we went on a checklist, you like all the things that — you like Kamala Harris, not just against. So, what are — let me ask you, do you believe we should abolish the filibuster? … How about getting rid of private insurance? How about taxing unrealized gains? How about nationalizing energy? How about mandatory gun buybacks like Australia? How about decriminalizing illegal crossings? Ending cash bail? Child gender reassignment surgery being paid for in prison? What are your — raising the corporate tax rate? What are your favorite proposals from Kamala Harris that make you like her so much?”
Murphy responded, “Joe, for a Jersey guy, you sound like you’re on the Trump campaign for crying out loud. Come on, man. You’re cherry-picking stuff.”
Kernen then cut in to ask Murphy which one of those proposals he likes, then asked specifically, “Are you in favor of ending the filibuster, we’ll go one by one, are you?”
Murphy responded that he’s unsure on the filibuster, but “I think getting fairer tax rates makes sense.” And “I think fair tax policy is sensible.”
Kernen then cut in to ask, “What does that mean, fair?”
Murphy answered, “Fair means you pay what you should pay.”
Kernen then asked, “Well, you know I live in your state, Governor. Do you think if I pay 55% total, is that fair for me, or do I need to pay 80%? What would be fair for you? Because I live in your state.”
Murphy responded, “Joe, I said that up front, believe me, I know you do, but you sound like you’re on the Trump campaign.”
Kernen cut in to ask what would be fair.
Murphy answered, “I don’t know what the right number is, but –.”
Kernen and co-host Andrew Ross Sorkin then cut in and talked about if Kernen’s question was fair.
Murphy then stated, “We passed a millionaires’ tax five years ago. Everybody, Joe, including you, said it would drive people out of New Jersey. We have more millionaires today than we’ve ever had in our history. So, tax fairness isn’t necessarily a bad thing.”
Kernen then asked, “We have a very progressive tax system. Do you think we have a progressive tax system in the United States? Do you think it be — it should — it’s not progressive enough or are you talking about billionaires? I’m not sure what you’re — because you know how much the 1% does pay the lion’s share of taxes — of federal taxes. So, what does fair mean?”
Murphy cut in to respond, “Color me open-minded, how’s that?”
Murphy added, “I’ve obviously voted with my feet. We have a millionaires’ tax in Jersey. We’re not a low-cost state to live in, but we give you an enormous amount back for what you pay, we’re the number one state in America to raise a family.”
While Murphy was talking about New Jersey’s tax policies, Kernen cut in to ask about taxing unrealized gains and the discussion moved to that specific policy.
Follow Ian Hanchett on Twitter @IanHanchett
