Late last November, the state Department of Revenue prepared a document called “Estimated Impact of Major Revenue Alternatives” for lawmakers.
The five-page document is essentially a menu of 156 possible tax increases: if you do X, it generates $Y.
Here are a few of the examples that Revenue researchers came up with, along with how much money each would raise over two years.
-Adding a penny to the sales tax: $2 billion.
-Taxing candy and gum: $32 million.
-Charging sales tax on newspapers: $29 million.
-Charging the equivalent of a sales tax on veterinarians ($37 million), beauty salons ($49 million), movie theaters ($22 million), bowling alleys ($5 million), lawyers ($323 million), accountants ($136 million) and doctors ($423 million).
-Boosting cigarette taxes from the current $1.42 a pack to $1.50 a pack: $28 million.
-Adding a five-cent tax to a can of soda pop: $300 million.