16

Gov. Phil Murphy talks to CNBC’s Joe Kernen about taxes and politics on the ‘Squawk Box’

NEW YORK — New Jersey Gov. Phil Murphy and CNBC anchor Joe Kernen got into a heated exchange on Monday’s episode of “Squawk Box,” clashing over taxes, health issues, national politics and the agenda of the Democratic Party. Kernen, a longtime New Jersey resident, asked Murphy whether he supported progressive tax policies and other left-wing proposals associated with Vice President Kamala Harris, sparking a heated back-and-forth that often transferred to personal territory.

• New Jersey Gov. Phil Murphy clashed with CNBC anchor Joe Kernen on “Squawk Box” over issues of tax fairness and progressive policies, with Kernen pressing Murphy on whether tax rates The current taxes are fair.
• Murphy defended New Jersey’s millionaires tax, citing an increase in the number of wealthy residents since its implementation, despite initial fears that the tax would drive out high-income earners.
• The conversation expanded to broader Democratic policies, with Kernen questioning Murphy’s stance on the filibuster, the unrealized capital gains tax, and nationalized energy, but Murphy avoided give direct answers to specific propositions.
• Murphy and Kernen also argued over the alleged politicization of the Justice Department, with Murphy expressing disbelief at the comparison between the current administration and Trump’s, saying no “rational viewer” would see Vice President Kamala Harris as a greater threat to democracy than Trump.

The conversation turned confrontational when Kernen challenged Murphy on his views on tax fairness. “I live in your state, governor,” Kernen said. “Do you think if I pay 55% in total (in taxes), is that fair to me, or should I pay 80%? » Murphy, who has championed New Jersey’s millionaires tax, responded that his goal was to ensure tax policy was fair, but stopped short of offering specific thresholds.

Murphy highlighted the state’s economic accomplishments under his leadership, referencing the increase in the number of wealthy residents since the millionaires tax took effect. “We passed the millionaires tax five years ago. Everyone, Joe, including you, said it would drive people out of New Jersey,” Murphy said. “We have more millionaires today than we have ever had in our history.”

Asked about President Biden calling Trump supporters in New Jersey trash, the governor defended the president.

“Trump supporters were trash? I saw him and he said, ‘Specifically, it was about the people who were at Madison Square Garden, and you and I both know that’s what he said,'” Murphy said .

Kernen, pressing for clarity, questioned Murphy on a series of progressive policies, asking his position on the filibuster, the unrealized capital gains tax and nationalized energy. Murphy avoided specifics, saying his views on fair tax policy are shaped by a commitment to providing residents value for their contributions. “We’re not a cheap state to live in, but we give you back a ton for what you pay,” Murphy said, noting New Jersey’s status as “the first state in America to raise a family.”

Asked about New York District Attorney Alvin Bragg’s criminal case against Trump, Murphy had an answer.

“Alvin Bragg does not work for Kamala Harris. You and I both know that,” he said.

“Well, you know I live in your state, Governor. Do you think if I pay 55% in total, is that fair to me or should I pay 80%? What would be right for you? Because I live in your state,” Kernen, a New Jersey resident, asked the governor. “We’re not a cheap state to live in, but we give you a huge refund for what you pay. »

“Joe, I said it up front. Believe me, I know. But it looks like you’re part of the Trump campaign,” Murphy responded.

Asked about the legal fight against Trump, Murphy replied: “Come on. You’re kidding me. Speaker 1 (04:22)
There is currently no rational viewer who watches this discussion and thinks that Harris is the authoritative threat against Trump. No reasonable person comes to this conclusion. How could you do it?

As the conversation continued, it moved toward broader ideological debates, with Kernen suggesting that the current administration’s Justice Department is politicized, comparing it to the former president’s administration Donald Trump. Murphy fired back, expressing disbelief in the idea, and pointed to recent events and Trump’s public statements regarding retaliation against political adversaries. “There is currently no rational viewer who watches this discussion and thinks that Harris is the authoritative threat against Trump,” Murphy argued. “No reasonable person comes to that conclusion.”

The exchange ended with co-anchor Andrew Ross Sorkin’s attempt to add context by recalling Trump’s previous efforts to pursue investigations against political figures like James Comey and Hillary Clinton, despite resistance within its own administration. “I just want to be 100% clear on the context,” Sorkin said, calling the example “factual.”

The heated debate highlighted the deep ideological divisions between Murphy, a Democrat known for his progressive politics in New Jersey, and Kernen, a financial journalist frequently critical of left-wing tax and economic proposals. The conversation highlighted the ongoing national debate over economic policy, tax fairness and the scope of government power.