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Wednesday, January 27, 2010

Oregon Votes to Increase Taxes on Wealthy/Corporations

Oregon seems to have bucked a trend here.

Oregon has set aside its history of shooting down tax increases on statewide ballots, with voters endorsing higher taxes on businesses and the rich amid a brutal economic slump.

Democrats in the Oregon Legislature made it as easy as they could for the voters to raise taxes on somebody else, and the electorate responded Tuesday by approving Measures 66 and 67.

The increases approved Tuesday will hit people with taxable income upward of
$125,000 -- estimated at fewer than 3 percent of filers. Many businesses who had
been paying an annual $10 minimum will see that rise to at least $150.

With 91 percent of the vote counted, the vote was 54-46 on Measure 66 and 53-47 on Measure 67.

With the elections in New Jersey, Virginia and Massachusetts, the trend was toward smaller government and lower taxes. Oregon has bucked that trend with this vote.

This will be a state to watch because people vote with their feet. You can bet that the wealthy and corporations will be moving to states where the tax environment is more friendly. This is exactly what's happened in Michigan, New York, and California and those states have suffered as a result. Oregon appears to have not learned those lessons.


AG said...

You sound awfully like you desire to see Oregon punished for rebelling against your ideology. Do things like social dynamic factor in to your business model at all? I mean, I'm about to graduate from college here in Michigan, and you couldn't pay me to stay here. Its cold, its rural, and overall just an undesirable place to live for anyone under the age of 40. I secretly hope I find a job someplace else before I'm offered one here because I don't want to stay.

mike volpe said...

I don't know what I sound like but I am stating what's happened. I have all sorts of other things to worry about without worrying about the state of Oregon.

You seem to like to attach all sorts of devious intentions to things I write which isn't entirely fair.

AG said...

Its politics. We all think the other guy is willing to resort to dictatorial and tyrannical methods to impose their agenda regardless of public opinion. It is what it is.

Sorry if you thought I was being unfair.

Jason Gillman said...

Good for Oregon..

The people of Oregon might BRIEFLY enjoy a deficit free budget full of goodies for the proletariat.

Then as folks look at one of the most ridiculous progressive state tax rates, the question of settling a business there becomes a harder decision to make.

Maybe they'll get to see what happened to Michigan due to a screw up of our business taxes. Sadly, my daughter who is in Oregon will see much of the damage of this type of progressive theft before too long..

Anonymous said...

I have no proof but I wonder if this isn't one of those Democrats move from states with high taxes and then vote for higher taxes and Democrats in the state they just moved to. So stupid and so predictable. It's happening in Arizona where Californians moved in.