Tax time

Are you ready to pay more taxes?

It’s appropriate that today is April 15, the deadline to file income tax returns. We are starting to hear how much more we will pay the state and federal agencies to support our ever-expanding government.

Here is what we are going to pay after the state Legislature approved a permanent take hike of $800 million:

• 30 percent increase in the Business and Occupation (B&O) tax on all services

• B&O tax on economic income — dubbed Nexus

• B&O tax increase on property management salaries

• B&O tax increase on certain canned meats

• B&O tax increase on mortgages

• B&O tax increase on corporate officer salaries

• $1 per pack of cigarettes

• 50-cent tax on each gallon of beer (28 cents per six pack)

• 2-cent per 12-ounce soda tax

• Sales tax on bottled water

• Sales tax on candy and gum

• Tax increase on bad debts

• Tax increase on PUD electric bills

• Tax on personal liability for tax debts

“It’s a serious blow to job creators and those looking for work. After nearly a half-billion dollar increase in payroll taxes on employers this year, hitting them up again for millions more in taxes is simply irresponsible,” stated Rep. Joel Kretz, R-Wauconda. “These taxes will hurt the struggling the most.”

But let’s not stop there. Here are new and increased federal taxes approved by Congress, according to Rep. Doc Hastings’ office:

• Tax on people without health care

• 40 percent excise tax on certain high-cost health plans

• Increase of Medicare taxes on wages

• Increased Medicare taxes with elimination of deductions of Part D

• New annual tax on health insurance

• New annual tax on brand-name pharmaceuticals

• 2.3 percent excise tax on medical devices

• 10 percent tax on indoor UV tanning services

• Increased tobacco taxes

• Federal unemployment surtaxes extended through June 2011

Hastings office calculates we will pay more than $670 billion in new taxes and tax increases during the next 10 years.

Is it just us, or does the government seem out of touch? They get their money from us and the companies employing us. But where do they think we are going to get the money to keep paying for new and increased taxes? The less we have to spend on goods and services, the less tax they collect. Soon they will see the “spigot of endless tax revenue” running dry.

— Editorial board