Gov. Phil Murphy Spars with CNBC’s Joe Kernen Over Taxes, Policy on ‘Squawk Box’
NEW YORK — New Jersey Governor Phil Murphy and CNBC anchor Joe Kernen engaged in a heated exchange on Monday’s episode of “Squawk Box,” clashing over taxes, national policy issues, and the Democratic Party’s agenda. Kernen, a longtime New Jersey resident, pressed Murphy on whether he supports progressive taxation policies and other left-leaning proposals associated with Vice President Kamala Harris, sparking a lively back-and-forth that often veered into personal territory.
- New Jersey Governor 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 current tax rates are equitable.
- Murphy defended New Jersey’s millionaire’s tax, citing an increase in wealthy residents since its implementation, despite initial concerns 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, unrealized capital gains tax, and nationalized energy, but Murphy avoided giving direct answers on specific proposals.
- Murphy and Kernen also sparred over the Justice Department’s alleged politicization, with Murphy expressing disbelief at the comparison between the current administration and Trump’s, asserting that 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 about tax fairness. “I live in your state, Governor,” Kernen said. “Do you think if I pay 55% total [in taxes] is that fair for me, or do I need to pay 80%?” Murphy, who has championed a millionaire’s tax in New Jersey, responded that his goal is to ensure that the tax policy is fair but refrained from offering specific thresholds.
Murphy highlighted the state’s economic achievements under his leadership, referencing the increase in wealthy residents since the millionaire’s tax went into effect. “We passed a millionaire’s tax five years ago. Everybody, Joe, including you, said it would drive people out of New Jersey,” Murphy said. “We have more millionaires today than we’ve ever had in our history.”
When questioned about President Biden calling New Jersey Trump supporters garbage, the governor defended the President.
“Trump supporters were garbage? I saw it, and he said, Specifically, it was about the people who were in Madison Square Garden, and you and I both know that that’s what he said,” Murphy said.
Kernen, pushing for clarity, questioned Murphy on a range of progressive policies, asking his stance on the filibuster, unrealized capital gains tax, and nationalized energy. Murphy sidestepped the specifics, asserting that his views on fair tax policy are shaped by a commitment to providing residents value for their contributions. “We’re not a low-cost state to live in, but we give you an enormous amount back for what you pay,” Murphy said, emphasizing New Jersey’s status as “the number one state in America to raise a family.”
When asked about New York City District Attorney Alvin Bragg’s criminal case against Trump, Murphy had an answer.
“Alvin Bragg doesn’t 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% 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,” Kernen, a New Jersey resident asked the governor. “We’re not a low-cost state to live in, but we give you an enormous amount back for what you pay.”
“Joe, I said that up front. Believe me, I know you do. But you sound like you’re on the Trump campaign,” Murphy replied.
When asked about the lawfare against Trump, Murphy said, “come on. You got to be kidding me. Speaker 1 (04:22)
There’s no rational viewer right now watching this discussion that thinks that Harris is the authority threat versus Trump. There’s no one who’s reasonable who comes down in that conclusion. How could you?”
As the conversation continued, it shifted toward broader ideological debates, with Kernen suggesting the current administration’s Department of Justice is politicized, contrasting it with former President Donald Trump’s administration. Murphy pushed back, expressing disbelief over the notion, and pointed to recent events and Trump’s public statements about retribution against political adversaries. “There’s no rational viewer right now watching this discussion that thinks that Harris is the authority threat versus Trump,” Murphy argued. “There’s no one who’s reasonable who comes down in that conclusion.”
The exchange ended with co-anchor Andrew Ross Sorkin attempting to add context by recalling Trump’s previous efforts to pursue investigations against political figures like James Comey and Hillary Clinton, despite resistance from within his own administration. “I just want to be 100% clear of the context of this,” Sorkin said, describing the example as “factual.”
The spirited debate highlighted the stark ideological divides between Murphy, a Democrat known for his progressive policies in New Jersey, and Kernen, a financial journalist frequently critical of left-leaning tax and economic proposals. The conversation underscored the ongoing national debate over economic policy, fairness in taxation, and the scope of government power.
