Saturday, April 10, 2010

Democrats Give Us The Largest Tax Increase In State History

Today Democrats in Olympia did the only thing they know how to do - raise our taxes.

Not a reform or restraint in sight, they only had eyes for our paychecks proving once again they are perfectly willing to hurt and even destroy employers and working families with the largest tax increase in state history.

Taxes include:

• A 0.30% increase in the B&O tax on all services except hospitals and scientific R&D = $242 million;
• DOT foods = $155 million;
• Cigarette($1 per pack) and other tobacco products = $101 million;
• B&O tax on economic income (Nexus) = $84.7 million;
• 50-cent per gallon (28-cents per six pack) beer tax = $59 million;
• Sales tax on bottled water = $32.6 million;
• Sales tax on candy/gum = $30.5 million;
• 2-cent per 12-ounce soda tax = $33.5 million;
• Taxes on business structure transactions = $8.5 million;
• B&O tax increase on property management salaries = $6.9 million;
• B&O increase on certain canned meat products = $4.1 million;
• B&O tax increase on mortgages = $3.6 million;
• B&O tax increase on corporate officer salaries = $2.1 million;
• Tax increase on bad debts = $1.7 million;
• Tax increase on livestock nutrient management = $1.3 million;
• Tax increase on PUD electric bills = $1.2 million;
• Personal liability for tax debts = $1.1 million.

“Families and small businesses are being targeted by new tax increases that will kill jobs and come at the worst possible time in a down economy. These new tax increases highlight an approach that refuses to reform state government in meaningful ways and embraces business as usual in Olympia.

“There have been solutions on the table since day one of the legislative session that would have created jobs, prioritized government and reformed the budget process. Nearly all of these solutions were pushed aside in favor of new tax increases.” Rep. Doug Ericksen

November is coming.

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