So, What Can We Tax Next?
A commonly uttered query amongst Democrats, it seems.
F’rinstance, last week’s Senate-endorsed budget bill included a provision which endorses giving states more power to collect sales taxes on purchases their residents make online, from out of state vendors. Online businesses with less than $1 million in annual sales would be exempt, we hear. Gee thanks. According to the Associated Press, an estimated $20 billion in sales taxes go uncollected annually by out of state online merchants.
And speaking of the existing tax level just never being quite enough, we hear from New York that a recently passed temporary (an oxymoron in any tax discussion) tax on high income earners in New York, which was due to end next year, will live on. The good governor Cuomo was recently heard to utter that, “There will be an extension of the surcharge set to expire next year.”
Which brings us back closer to home – check out some of the bills recently introduced into the California legislature, in which Democrats presently hold a “super majority,” by the way.
- Senate Bill 700 would create a 5 cent tax on each paper or plastic bag in which your groceries ride as you exit the market.
- Senate Bill 622 would impose a 1 cent per ounce tax on soft drinks, energy drinks, and certain teas to raise dough to combat childhood obesity.
- Assembly Bill 760 would clip a buyer 5 cents per bullet on sales of ammo, to raise funds for mental health services.
- Senate Bill 391 would impose a $75 “fee” on the recording of various legal documents, including deeds and certain liens. This dough would go to support “affordable housing.”
We guess last year’s election, which retroactively raised income taxes just wasn’t
enough to satisfy these people.
After all, you see, the bureaucrats need just a “little bit more,” (to quote your President.) Like for that “training video” put together by the IRS in 2010 that parodied Star Trek, costing tens of thousands. Of course, the humble IRS even admits, now, that the video was a mistake.
“There is nothing more infuriating to a taxpayer than to find out the government is using their hard-earned dollars in a way that is frivolous,” quoth Rep. Charles Boustany (R-La), recently. “The IRS admitted as much when it disclosed that it no longer produces such videos.”
Gee, thanks, guys.
And never let it be said that anything that involves the government is easy. The bureaucrats recently released their draft application for Obamacare health benefits – a modest 15 page tome which a family of three would be asked to complete. Wait ’til the IRS gets its grubbies on this one.
CONSULT YOUR TAX ADVISOR – This article contains general information about various tax matters. You should consult your CPA regarding the implications to your own particular situation.
Jeff Quinn, the author of this article is a shareholder in Ashley Quinn, CPAs and Consultants, Ltd., with offices in Incline Village and Reno. He may be reached at 831-7288, welcomes comments at firstname.lastname@example.org, and invites readers to consider his other commentary at http://blog.nolo.com/taxes.