Via Watts Up With That comes news of Congressman Earl Blumenauer’s (D-OR) proposed Water Resources Protection Act. Buried in this legislation are four new taxes [link opens a Word document]
– 3% excise tax on items disposed of in wastewater, such as toothpaste, cosmetics, toilet paper and cooking oil: These products wind up in the water stream and require clean up by sewage treatment plants.
– 0.5% excise tax on pharmaceutical products.
– 0.15% tax corporate profits over $4 million.
– 4 cent per container excise tax on water-based beverages.
I’m beginning to wonder if there’s anything the Democrats don’t want to tax.
As a reminder to those like Congressman Blumenauer, all taxes are passed on to consumers. Perhaps his constituents are different than most Americans and they want to pay more for the items they need on a daily basis. Perhaps they want a lower standard of living. Or perhpas they have the mistaken belief that only the wealthy pay taxes.
The Thomas Register shows that this bill has only seven co-sponsors. Hopefully that number will head to zero for this misguided piece of legislation.