Oregon passes tax boost
Oh geeze. I guess we may NEVER make it back to live in Oregon now.
Deceitful legislators, silly voters, and lots of free-riders are ruining the state I love.
Yesterday, Oregon voters approved two special tax measures Tuesday designed to close a $733 million state budget gap. Measures 66 and 67 garnered about 54% of Oregon’s mail-in ballots.
Measure 66 increases Oregon’s personal-income-tax rate by two percentage points for households earning over $250,000 a year. Measure 67 calls for an increase in the state’s minimum corporate income tax, currently $10 a year, and imposes a tax on gross revenues for corporations that do not report a profit.
Let’s see how much Oregonians like it when their unemployment rate soars as the businesses and wealthy individuals who create the jobs leave the state.
The poblem with a capitalist democracy is that eventually a majority of the people (the “takers”) figure out that they can redistribute to themselves everything the rest (here, businesses and +$250,000 earners, who are the “payers”) owns or makes. In the short run, it’s like winning the lottery. In the long run it drives out all the payers and leaves the takers withot jobs or any further capital to redistribute.
Say goodbye to guys like: Nike, Adidas, Columbia and Intel. I bet that by next year unemployment in Oregon increases from 11% to 14% while the rest of the US is recovering.
So much for our “relocation plan”!
Absolutely right! I honestly want to know who voted for this thing to pass because nobody I know did, or nobody will own up to it.
It is our responsibility as common taxpayers (or “takers”) and voters to check the system when it proposes something detrimental to the financial health of our great state.
Here in Portland, the advocates of measures 66 and 67 played it off on voters as a way to help schools and to help the children. They sold people on never owning a small business or having a household earning potential of more than $250k+. Then they convinced everyone that they shouldn’t question the states spending, followed with a, “You shouldn’t be responsible for our deficit, the rich people and business owners should.”
Look what has happened on the federal level. We have a President who is convinced that he can spend his way out of this recession. He gave banks money, only to watch them turn in HUGE profits and give out bonuses. Now he wants that money back.
My favorite quote from the State Of The Union Address:
“If the Republican leadership is going to insist that 60 votes in the Senate are required to do any business at all in this town, a supermajority, then the responsibility to govern is now yours, as well. Just saying no to everything may be good short-term politics, but it’s not leadership.”
While his last sentence may be true, his intention is to forward his own agenda. The Senate is simply not going to pass everything the President wants, that’s not the purpose.
Now that the Democrats no longer have a Supermajority, he thinks the Republicans are out to get him. Republicans are out to keep things in check, to make sure the moves Democrats and Obama wants are the right ones. If that means saying no to certain moves, so be it.
“Your success as a family, our success as a society, depends not on what happens in the White House, but on what happens inside your house.” – Tom Brokaw
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