http://www.myfoxny.com/dpp/news/local_news/new_jersey/nj-assembly-
millionaires-tax-plan-20100621-APX


N.J. Millionaires Tax Plan Fails
Updated: Monday, 21 Jun 2010, 6:41 PM EDT
Published : Monday, 21 Jun 2010, 2:38 PM EDT

TRENTON, N.J. - Democrats in the New Jersey Assembly have failed to 
override the Republican governor's veto of a tax surcharge on 
millionaires.

Monday's vote was strictly along party lines. All 47 Assembly Democrats 
voted for the override and all 33 Republicans voted against it. The 
measure needed seven GOP votes to advance.

The one-year surcharge would have raised about $600 million by 
increasing income taxes nearly two percent on the state's 16,000 highest 
wage earners.

It would have put the top earners into a 10.75 percent tax rate on 
income above $1 million.

Gov. Chris Christie vetoed the tax last month after the Legislature 
passed it along party lines.  The governor vetoed the tax because it 
would deter hiring, Christie spokesman Michael Drewniak said.

Democrats did not plan on using the money to close a huge budget 
shortfall.  The plan was to use the money to restore property tax 
rebates to 600,000 senior citizens and the disabled.  They also wanted 
to put Republicans on the record for voting against the proposal.

CMPQwk 1.42-21 9999 
Socialism can work until you run out of everyone elses money .....

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