Federal agents descended on Newark City Hall to collect the credit card records of former Mayor Sharpe James Tuesday.

Investigators say James charged $150,000 on two credit cards paid for by taxpayer dollars on trips to Puerto Rico, Rio de Janeiro, the Bahamas and other destinations. Current Mayor Cory Booker says such spending is part of the reason taxes have to be raised in the city.

James responded by claiming Booker is trying to deflect the shock of his 8-percent hike in taxes. He says, "if any Newark citizen believes their taxes must be raised because the previous mayor spent, on average, $15,000 annually for business travel, meals, entertainment and in promoting the city, they must be dumb, stupid and retarded."

Related Information: Officials subpoena ex-Newark mayor's city-funded credit card statements