As revenue-hungry Canadian provinces line up cap in hand for federal dollars, a new tax on wealthy residents of New Jersey that was approved last week offers food for thought.

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Dubbed the millionaires tax, the new law is widely expected to pass through the Democratic-controlled state legislature now that its main opponent, New Jersey Senate President Steve Sweeney, has come on side.

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Republican critics of the tax hike say it will lead to an exodus of the wealthy out of the state, and…

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