In his op-ed “State budget will benefit from tax reforms,” in The Westerly Sun on Tuesday, Dec. 26, Mike Stenhouse tries to put lipstick on the pig of the recent tax “reform” abomination.
In his first bullet point he states, “With about 80 percent of its residents soon to keep — and spend — more of their hard-earned paychecks… state sales tax revenues will increase.” That may be the case, but here’s the truth about its impact on individuals: the average taxpayer will save less than $1,000 in federal taxes over the year. That’s about $2.50 per day, or the price of a cup of coffee. But don’t buy that coffee yet, because chances are health insurance premiums will more than eat up that windfall.
The bill ends mandatory health coverage and millions of young healthy people will make the unwise decision to drop their insurance, thus raising everyone else’s insurance premiums.
Mr. Stenhouse is the CEO of the supposedly nonpartisan Rhode Island Center for Freedom and Prosperity. All anyone needs to know about this group can be found here:
Check the major donors and you’ll find a who’s who of the far right, including the Koch Brothers and the Scaife Foundation.