Think of the tax increases we have learned about in the last several days. From last night:
The tax increases include: $540 million paid from oil company profits; $318 million by creating a new 7.75% tax rate for the richest 1% of taxpayers; $290 million in higher taxes on cigarette smokers; $215 million in higher corporate income taxes; and more than $85 million paid on capital gains.
Let we forget, just a few days ago, the budget repair bill also increased additional taxes on business, hospital taxes and increased internet taxes:
The bill would:
• Tax parent companies and their subsidies as one entity. The rewrite of the corporate income tax code would cost businesses $215.7 million over three years.
• Tax hospital revenue to bring in more than $900 million in federal dollars, some of which will be used to pay for state health programs.
• Cut state spending by $125 million.
• Change tax laws to require online retailers to charge sales taxes for tangible products as well as Internet downloads of songs, video games and e-books.
• Authorize $300 million of federal stimulus funding for shovel-ready transportation
• Provide $3.6 million for worker training programs.
• Increase regulations to protect homeowners and tenants during foreclosure proceedings.
We have got to be pushing close to $2 Billion worth of tax increases in the last week handed down to us .
There went your $13 a week given to you by Barack Obama.
No stimulation here people, move along.