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Eye On Olympia

More on taxes…

As I wrote in the post below, the private Economic Opportunity Institute is proposing a Washington state "high incomes" tax aimed at people making at least $100,000 a year.

The group also looked at a couple of other tax increases, each of which would add hundreds of millions of dollars to the state every two years:

-End some tax breaks: The group proposes ending tax credits involving soda-pop syrup, private-school tuition, a research credit, high-tech factories, stevedore companies, insurance agents and brokers, travel agents and others. The changes would send an extra $400 million to the state every two years.

To sweeten the deal, the group would use about a third of that money to offset $130 million in new tax credits for small businesses.

-Expand sales taxes on some things: Teh group also suggests applying the state sales tax to:

-candy and gum ($61 million over two years)
-consumer services ($255 million). The group says it makes no sense to charge sales tax on movie rentals but not theater tickets, for example, or to tax pet grooming products and not pet grooming services. Plus, it says, the wealthy are more likely to be buying the services.
-detective and security services ($109 million)
-janitorial services ($11 million)
-custom software ($220 million)
-and securities brokers ($128 million)

for a grand total of $784 million more for state coffers per budget cycle, plus $293 million more for local governments.

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