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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