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 don't report a profit.
What floors me is this response ...
Gail Rasmussen, president of the Oregon Education Association, one of the public-sector unions that campaigned hard for Measure 66 and 67's passage, "Tonight's results are a credit to the hard work of parents, educators, and thousands of Oregonians from every walk of life who stood up to protect our schools."
A credit to YOUR hard work? How about the hard work of the folk that just got their taxes jacked up? You've just given the ok to legislation that's essentially negative prejudice based on income. One of her earlier comments talks about the wealthy paying their "fair share." Alrighty, Lenin.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
I hope all the people making over $250,000 move out of Oregon so that state can see how right Margaret Thatcher was about Socialism.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Leisher wrote:I hope all the people making over $250,000 move out of Oregon so that state can see how right Margaret Thatcher was about Socialism.
I was thinking that, too. You're jacking up taxes on people who've found ways to succeed in this country despite all the hurdles they could've stumbled over. You think they don't've the cash to hire a few more accountants come tax time & discover new loopholes? & yeah, if you're earning more than $250K per year, you could be in a very strong position to pick up & move to a different state.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Mr. Obama and Congressional Democratic leaders have said they will extend most of the Bush-era tax cuts scheduled to expire on Dec. 31. The president wants Congress to let the tax cuts lapse for high-income people, so that couples making more than $250,000 would see their taxes rise.
...
“As we work to create jobs,” he said, “it is critical that we rein in the budget deficits we’ve been accumulating for far too long — deficits that won’t just burden our children and grandchildren, but could damage our markets, drive up our interest rates and jeopardize our recovery right now.”
How the hell can he even say that w\ a straight face?
Edited By Malcolm on 1264895984
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
After reading again they probably modeled that tax on Ohio's. We have a commercial activity tax that taxes all businesses that make over 150,000.00. that is gross not net. If the company makes 5,000,000.00 per year they are taxed on it even if they have a net loss. Been going on for about five years now.