Monday, March 28, 2011
MILLIONAIRE'S TAX MYSTERY
More than a few top Democrats in the New Jersey state legisalture are advocating for the re-institution of a "Millionaire's Tax" increase. State Senator Shirley Turner has introduced two measures in the Upper House. The first would legisaltively increase the tax rate on income earned exceeding $1 million from 8.97% to 10.75%. The second is a resolution that would ask the voters if they'd like to amend the State Constitution to raise the tax at the same rate and dedicate the revenue generated to a property tax relief fund. While many Democrats talk openly about including the wealthy in the "shared sacrifice" Governor Chris Christie is demanding it seems the Senate Democrats are not going out of their way to rally behind Turner's "Millionaire's Tax." njsenatedems.com lists all Democratic members of the upper house and posts press releases of recent bill introductions. Curiously absent is a press release for Turner's "Millionaire's Tax" legislation.