Posted on 10/23/2016 9:49:08 AM PDT by reaganaut1
If you had to choose one story that shows why American workers are not wild about unions these days, public or private, look to Portland, Oregon. Voters statewide are set to decide on a ballot initiative there in November that could do more to kill jobs than most category 4 hurricanes.
Targeted at big businesses, Measure 97 would impose a new 2.5 percent tax on companies that gross over $25 million a year. The trick is, the tax would not be on net profits but on gross revenues after the $25 million mark. In other words, companies are not taxed on how much money they actually make after expenses but on how much money comes through the door.
For high-volume, low-margin business, the tax could be crippling. Emily Powell, owner of Portland’s beloved Powell’s Books, has a hard time sleeping some nights because of the measure. “I say this without trying to be dramatic. I don’t know how we are going to pay this bill,” she said in an interview.
Though certain businesses such as Powell’s Books would bear the “legal incidence of the tax,” all Oregonians will pay more for goods, services, and even utilities, according to the nonpartisan Tax Foundation. Its number-crunchers estimate that the cost per every man, woman, and child in the state would be about $600 a year, for a total annual tax hike of about $3 billion.
You can’t squeeze that much money out of a state the size of Oregon without also killing or stopping the creation an awful lot of private sector jobs. Tom Potiowsky, the former state economist, calls it a hidden “sales tax on steroids,” which is a big deal in part because Oregon attracts all kinds of business from nearby Washington and California by not having a sales tax.
(Excerpt) Read more at nginx.spectator.org ...
Democrat taxation. Encouraging more business to leave their state. It is all they know how to do. They do not care.
Envy-based taxation.
Talk about disastrous!
So a grocery store that makes a 2% profit will be taxed 2.5% on any sales above 25 million gross? So they will make 2% profit up to 25 million, and then start losing money by selling more?
Living in Oregon will get tough when no one sells food any more...
Grocery was the first industry that came to my mind. These people are idiots.
I hope it passes.
Let the Oreganos starve with no jobs, most of which will be headed here to Texas.
See, this is where unions are really bad at math... You back this tax measure to shore up the embezzlement of public funds known as “public employee benefits” while at the same time virtually ensuring that any medium to large business in the state has to slash the one cost they can control: employee costs.
So yes, there will still be markets selling food - just at a slightly higher price and with a much longer line as fewer employees will be on hand.
Just imagine how much fun it’ll be come the holidays when companies don’t hire the seasonal employees to make shopping easier as why lose your profits?
So they run business as usual up until just short of 25 mil then put everyone on unpaid leave, declare unsold inventory as a tax break loss and shut down for the rest of the year. Kind of a Venezuela type of thing.
The fairest tax would be a surcharge for being a dhimmicrat.
Too bad. We loved visiting Astoria and Depoe Bay...tourism may be all that keeps them alive.
freedumb2003 wrote: “I hope it passes. Let the Oreganos starve with no jobs, most of which will be headed here to Texas.”
And, the “Oreganos” will move to Texas where they will vote for democrats.
>>And, the “Oreganos” will move to Texas where they will vote for democrats.<<
So far for the most part we get the businesses but not the people.
North Texas would kill most Organos.
But it’s for the children. Or the general fund. whichever. Or increase salaries for union heads because they need it for all the hard work they do.
Or the prices people pay will go up when you can only get food from local bodegas that sell it at a higher profit margin due to lower volume.
Hopefully if this passes, all the lefty Californians will chase all those Texas jobs and leave us “oreganos” alone.
The store could just add a 2.5% tax to every cash register sale and label it as the Democrat tax.
The TV ads are grossly misrepresenting what this bill will do, and so far, we haven’t run across one person who will vote for this rotten piece of legislation.
Oh that would be considered structuring and would be punished for sure. Indeed kind of a Venezuela type thingy. Then the business people would be considered economic saboteures
From March...Bill Clinton makes surprise appearance at Powell’s Books
http://www.kgw.com/mb/news/politics/bill-clinton-makes-surprise-portland-appearance/94504708
“When a man knows he is to be hanged...it concentrates his mind wonderfully.” Samuel Johnson
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