New for Minnesota 4/25/13
Minnesota is looking at 2.6 BILLION dollars in new taxes and tax hikes!
“It’s a large increase, but it has to happen,” said Rep. Erik Simonson, DFL-Duluth. “Somebody has to step up to the plate, be a leader and make the tough decisions, and that’s what we’re here to do.”
NO - It does not have to happen. JUST STOP SPENDING!
“Everyone will pay more for beer, for baseball cards, for cigarettes, for rental cars, and the list goes on and on,” said House Minority Leader Kurt Daudt, R-Crown. But what else?
- The Distilled Spirits Council of the United States calculated Minnesota's excise taxes would go up 120 percent on liquor, 500 percent on beer and 600 percent on wine.
- $1.60-per-pack cigarette - affecting only the rich of course...
- The House bill would create a fourth tier rate of 8.49 percent for couples making more than $400,000 a year in taxable income and add a (oh and here's our favorite part) temporary surcharge on couples’ income more than $500,000.
Of course this proposed bill isn't just about tax hikes. IT CONTAINS EVEN MORE SPENDING!
Live in the Twin Cities? Expect an even higher sales tax so the children at the Met Council can build their trains...
Out of control government spending - out of control taxation!
These are manufacturer's taxes so at retail, it may just appear as a greedy corporate price hike to the consumer...
Among others you will find:
- 2.3% on medical devices
- 4.4% on mined coal
- 7.5% on airline passengers
- 10% on indoor tanning services
- 10 and 11% on sporting goods
- 12% on Heavy Trucks, Trailers, and Tractors
A little more detail from Publication 510:
Fuel taxes: Gasoline and Aviation Gasoline, Diesel Fuel and Kerosene, Diesel-Water Fuel Emulsion, Kerosene for Use in Aviation, Surtax on any liquid used in a fractional ownership program aircraft as fuel, Certificate for Commercial Aviation and Exempt Uses, Other Fuels (Including Alternative Fuels), Compressed Natural Gas (CNG), Fuels Used on Inland Waterways, Alcohol
Communications and Air Transportation Taxes: Communications Tax, Air Transportation Taxes, Mileage Awards
Manufacturers Taxes: Sport Fishing Equipment, Bows, Quivers, Broadheads, and Points, Arrow Shafts, Coal, Taxable Tires, Gas Guzzler Tax, Vaccines
And a few others: Retail Tax on Heavy Trucks, Trailers, and Tractors, Ship Passenger Tax, Foreign Insurance Taxes, Indoor Tanning Services Tax
Partial reporting by the media
In mid '99, Federal Reserve Chairman Alan Greenspan testified before Congress and was hailed by liberals and the news media for "trashing" the tax-cut bill currently under consideration by Congress.
Unfortunately the news media and liberals failed to include all of Mr. Greenspan’s testimony in their reports and statements. "My first priority, if I were given such a priority, is to let the surpluses run," Greenspan told Congress.
But here is the rest of his statement: "As I’ve said before, my second priority is if you find that as a consequence of those surpluses they tend to be spent, then I would be more in the camp of cutting taxes, because the least desirable is using those surpluses for expanding outlays."
Cost of taxes
"In 1904, government, federal and state, cost every citizen $20 per year, according to a 1999 Tax Foundation study. Don't blame inflation --that only brought it to $340. For more than 150 years after we declared independence, we spent less than $1,000 each on government. Yet by 1999, government cost every man, woman and child an average of more than $10,000 per year -- more than housing and health care combined." The article by John Stossel John's Archives
Also see how much tax...
What is a "Temporary Tax"? These were all enacted as "temporary". Many of these still exist today!
- 1914 War Tax Revenue Act a 3 percent excise tax: Source1
- 1937 Minnesota raises fuel tax to $0.04
- 1976 Federal Unemployment Tax proposed end date of 1997: Source2
- 1981 Minnesota sales tax rate on select items from $0.03 to
- 1982 More items added
- 1983 Changed to a permanent $0.06
- 1997 Raised to $0.065
- 1981 Minnesota Surtax of 7 percent
- 1991 Maine Sales Tax increase of 20 percent proposed end date of 1993
- 1992 Minnesota raised per pack price another $0.05 for the "Health Care Access Fund" and about to go up again in addition to a proposed 0.95 federal tax
- 1993 Federal Gasoline Tax of $0.043 proposed end date of 1993
- 1994 Washington DC Convention Center funding proposed end date of 1997: Source1
Why you may ask, one reason is the National Debt Ceiling (spending limits) has been "temporarily" raised many times: From $930 Billion in 1980 to a staggering $6.3 Trillion today: Source1
Just for fun, here is a short list of known taxes
See Too Many Taxes
More taxes were simply inevitable...
Regardless of what the stock market looks like, our economy is in an incredibly poor state. According to the US Treasury, we will be paying $191,918,606,815 in interest alone on our outstanding debt and that's only through October of this year.
With estimated 5.4 trillion dollar revenues and 6.3 trillion dollar spending, something must be done! But more taxes is not the answer. However, an Internet sales tax will likely become law, perhaps soon.
But this may be a dangerous road... Article