It is a 2 billion dollar tax increase

As I stated this morning, we had to be getting close to $2 billion in tax increases suggested by our governor in the last week or so.

I was right.

WPRI has the entire break down.

H/T Charlie Sykes

Tax Increase	FY 2010	FY 2011
Adopt Combined Reporting	$75,600,000	$111,700,000
Adopt Main Street Equity Act	30,300,000	31,000,000
Extend Sales Tax to Digital Personal Property	4,200,000	6,700,000
Cigarette Tax Increase	127,400,000	130,300,000
Tobacco Products Tax Increase	15,200,000	18,000,000
Very High Earner Income Tax Bracket	175,563,000	136,194,000
Reduce Capital Gains Exclusion to 40%	85,100,000	95,500,000
Nonresident Pass-Through Withholding	38,500,000	0
Decouple from Federal Qualified Production Activities Deduction	38,200,000	33,500,000
Affiliated Entities Sales Tax Treatment	19,800,000	21,000,000
Fully Recognize Throwback Sales	57,700,000	37,500,000
Air Carrier Definition	4,000,000	4,000,000
Economic Nexus Standard for Internet Businesses	1,500,000	1,500,000
Internal Revenue Code Updates	-40,560,000	-5,490,000
Angel and Early Stage Seed Investment Credits Revisions	0	-7,000,000
Increased Research and Development Investment Credit	0	-5,000,000
Sunset Film Production Services Tax Credit	5,000,000	5,000,000
Delay Credit for Medical Records Technology Investments	4,500,000	10,000,000
Next Generation Farmer Tax Credit (effective 2011)	0	0
Dairy Cooperative Tax Credit	-600,000	-700,000
Meat Processing Facility Tax Credit	-300,000	-700,000
GPR Total Tax Changes	$641,103,000	$623,004,000
Hospital Assessment	$310,021,000	$339,695,800
Oil Company Profits Tax	100,324,900	171,490,300
SEG Total Tax Changes	$410,345,900	$511,186,100
NET TOTAL ALL FUNDS	$1,051,448,900	$1,134,190,100
Total 2010-11		$2,185,639,000

Before you get too upset by this, just wait...The Democrats controlling the state legislature have not lumped in their tax increases for their pet pork projects.

Remember the $15 billion payroll tax increases in health care? Yep, that could be what they are plotting right now!

Okay so every man, woman and child living in this state, about 5.5 million of us will have to shell out about $3973.93 each over the next two years.