Meet Phil Murphy (D – Goldman Sachs)

  • Phil Murphy likes to tout his middle-class roots, but he hasn’t been a member of the middle class since he started at Goldman Sachs in 1982.
  • Phil Murphy claims that he would be a governor for all, but throughout his career Murphy has favored Wall Street over Main Street.
  • Despite those facts, Murphy tries to hide his Goldman Sachs past from voters and doesn’t include one mention of Goldman Sachs on his campaign website.
  • Murphy favors tax hikes on New Jersey families that would make the state less affordable.
  • Murphy is facing numerous comparisons to failed New Jersey Governor Jon Corzine after they both used their Wall Street wealth to run for office and push out-of-touch policies.
  • Murphy spent millions to buy the Democrat nomination, using his personal wealth to purchase political favors and endorsements.
  • Murphy favors a $15/hr minimum wage, but was caught paying his own campaign staff less than that.
  • For years, Murphy has profited off investments connected to the same energy companies he now claims to oppose.
  • Phil Murphy is too extreme for New Jersey.


Murphy Strives To Hide His Goldman Sachs Background From Voters. Even though Murphy spent 23 years working for the investment bank Goldman Sachs, he completely ignores it on his campaign website, not mentioning his former employer even once. But now that he’s running for governor, hypocritically attacking Wall Street, and dodging any connections to former failed Governor Jon Corzine – he’s hoping New Jersey voters have a short memory and won’t ask him tough questions.

“Phil Murphy is a candidate for governor in New Jersey’s June Democratic primary election, but troubling questions have surfaced about how much he has revealed to voters about himself and his background. Although it is well established in fact, Phil Murphy is a former Goldman Sachs executive, but his 23-year career with the Wall Street firm is never mentioned on the candidate’s website. Documents showing his financial assets list a number of shadowy Goldman Sachs funds that experts say include investments in fossil fuel companies or other polluters as well as some major global corporations that have dodged their responsibility to pay federal taxes in America.” (Staff, “Protected: Identity Crisis For Candidate,” NJ Today, 4/29/2017)


If Elected, Murphy Would Raise Taxes, Hurting New Jersey Families. Murphy claims that he’s focused on strengthening the middle class, but his tax-and-spend policies would hurt New Jersey families and make the state less affordable. His campaign consistently turns to tax hikes to pay for his out-of-touch policy proposals. New Jersey can’t afford him as governor.

“As Phil Murphy, the ex-Goldman Sachs banker, continues to fill out his profile as a liberal candidate for governor, one thing has become clear: He’s not afraid of uttering the dreaded t-word. Murphy, a Democrat running for his first elected office, has endorsed raising taxes on millionaires. He supports taxing the sale of marijuana, assuming it becomes legal by passing the Legislature now controlled by Democrats. Murphy figures it could potentially raise $300 million in revenue. And on Thursday, Murphy expressed a willingness to consider imposing some sort of broad-based tax dedicated to mass transit funding.’ There are a number of things on the table,’ Murphy said in a news conference outside the Trenton train station.” (Charles Stile, “Democrat Murphy doesn’t shy away from talk of tax hikes,”North Jersey, 5/5/2017)


Murphy Faces Numerous Comparisons To Failed Governor Jon Corzine. After Corzine lost his re-election fight in spectacular fashion in 2009, Democrats were quick to try and move on from his failed legacy. But now Corzine is casting a long shadow over this year’s gubernatorial race, with numerous comparisons of the former failed governor to Democrat candidate Phil Murphy. Even Democrats in New Jersey are getting nervous about the close comparisons, realizing Murphy’s policies, connections, and penchant to try and buy endorsements are very similar to Corzine’s. Both spent years working on Wall Street for Goldman Sachs, and just like Corzine, Murphy is trying to push an extreme, out-of-touch agenda while misleading voters.

“…With the Democratic gubernatorial front-runner being Phil Murphy, a wealthy former Goldman Sachs executive who’s spreading political donations around the state, the comparison to Corzine has proven impossible for Murphy’s underdog Democratic opponents to resist. Democrats are seeking to capitalize on the Goldman Sachs connection — Corzine was the company’s chairman and CEO — to take advantage of the anti-Wall Street sentiment that energized Bernie Sanders’ campaign for president, and to paint Murphy as an out-of-touch millionaire buying his way into the office. ‘Just like Corzine before him, Murphy comes from Goldman Sachs, possesses zero government experience, and is using his vast personal wealth to buy off consultants and party bosses.’” (Matt Friedman, “Now, Even Some Democrats Are Comparing Murphy To Corzine,” POLITICO,4/12/2017)


Murphy Faces Scorn And Criticism For His Attempts To Buy The Democrat Gubernatorial Nomination. Murphy was endorsed by numerous elected officials to whom he has been a financial contributor, leading one top Democrat in New Jersey to conclude that Murphy is attempting to “rig this election with his Goldman Sachs wealth.”

“A top Democratic candidate for New Jersey governor helped cement his status through hundreds of thousands of dollars in donations to local parties, earning key establishment support along the way. Since early 2015, Democratic candidate Phil Murphy contributed to most of the state’s county Democratic parties, as well as the Democratic State Committee, totaling about $250,000, according to Election Law Enforcement Commission records analyzed by The Associated Press. ‘To me it smacks of a candidate buying the nomination. That is certainly his prerogative. I would caution that we’ve been down this road before in the form of Jon Corzine,’ said Montclair State University political science professor Brigid Harrison.” (Michael Catalina, “Party support, populist scorn follow Murphy’s contributions, Associated Press, 2/4/2017)


Murphy Favors Raising The Minimum Wage To $15/Hr, But Was Caught Paying His Own Campaign Staff Less Than That. In an effort to appease far-left voters, Murphy has embraced raising the state’s minimum wage to $15/hr, and has even made it part of his campaign platform on his own website. But as with many other issues, Murphy has adopted a “do as I say, not as I do” mantra. A new employment posting for work on Murphy’s campaign as a paid canvasser reveals the ex-Goldman Sachs executive is offering only $12.50 an hour to work for his campaign, less than his touted view of $15 an hour.

“Phil Murphy’s campaign for governor is not living up to the Democratic front-runner’s own promise, one of his opponents said Tuesday. Assemblyman John Wisniewski pointed to a Murphy want ad for canvassers that offers to pay them $50 for a four-hour shift, or $12.50 an hour. Murphy’s campaign finance reports show many of those canvassers being paid $50.” (Matt Friedman, “Wisniewski: Murphy violating his own campaign promise on minimum wage,” POLITICO, 5/23/17”


For Years, Murphy Profited Off The Same Energy Companies He Now Claims To Oppose. In a desperate attempt to pander to environmental groups and far-left primary voters, Murphy has flip-flopped on his support for these companies and refuses to give a clear answer on his own investments in corporations that support fracking. Murphy’s shameless hypocrisy only further proves that he’s willing to say or do anything, even if it means misleading New Jersey voters on his record.

“Phil Murphy has proposed an aggressive plan for New Jersey to transition fully to clean energy by 2050, pitching himself to voters as the most progressive and environmentally friendly candidate…Murphy’s vast investment portfolio includes more than three dozen oil, energy and chemical companies, according to his financial disclosure with the state Election Law Enforcement Commission. The list includes the member companies of the controversial PennEast Pipeline proposal to build a 36-inch pipe carrying natural gas across a 115-mile route from Pennsylvania to Mercer County. It is a project that Murphy, as well as other Democratic candidates for governor, and environmental groups oppose.”(Dustin Racioppi, Murphy, Democratic front-runner, earned from pipeline companies he now opposes,” North Jersey, 5/15/2017)