Posted on 05/23/2016 7:40:16 PM PDT by Olog-hai
A massive $2.8 billion annual corporate tax hike is likely headed to Oregon voters in November, a move that could create the most aggressive tax climate for big business of any state in the nation.
The ballot proposal comes as raising taxes on the wealthy and large corporations is at the forefront of a national debate especially among Democratic progressives such as Bernie Sanders and much of Oregons electorate about how to close the gaping economic disparities between rich and poor in a post-Great Recession era.
The proposals labor-union backers are just one step from getting the measure on the ballot after submitting 130,000 signatures to state elections officials last week. They say it would tap a tiny portion of Oregon businesses while bringing a huge boost to cash-strapped public education, health care and senior services.
But a long-awaited state analysis, released Monday, found the proposed tax hike would come with major pitfalls for wages, jobs and consumers pocketbooks.
(Excerpt) Read more at hosted.ap.org ...
“I guess we can expect Oregonians to Flee to California for tax relief.”
The socialist invaders have just about destroyed Oregon now too. Really, really, sad. I used to love it there.
Was that targeted solely towards factories, or towards anything leaving Ohio?
That would also explain Strickland’s reluctance to support an exit tax after letting Georgia walk out the door with Dayton’s crown jewel - NCR. He had every chance to prevent the exodus, but did nothing. An exit tax would only have accelerated other departures.
My son-in-law works for a biotech group that is a subsidiary of a large corporation. They had offices in Portland. 3 years ago because of Oregon’s onerous taxes and Portland’s outlandish leasing rules and taxes, the company folded up the offices and moved to South Carolina.
Fortunately he is a manager and was offered a job and moving expenses paid. He was the only one. Thirty something other employees were let go after he had new ones trained in new location. The transition took about a year.
The bummer is now we have to travel across the country to see our grandkids.
Oregon will lose many many jobs if this passes.
Idiots!
Gosh, unions are doing this out of the goodness of their heart to help children, elderly and the sick... Well, that and because in many areas of the country, 50% or more of the budget for public entities is going to pay for people who no longer work for those public entities.
Contemplate that; half of your working budget gone to pay for those who left their jobs up to 40 years before. Gosh it's wonderful - not only do you get to spend other people's money, but you get to tie the hands for up to two generations of people who are elected to manage public budgets.
Nike, Inc will like this idea.
And those corporations will pass that tax onto whom?
Yeah. I thought so.
Nike shoes are so overpriced they are not worth the effort.
Apparently, the dumbing down of America is accelerating. Voting them selves out of work is the new trendy thing to do.
“Katherine Driessen, spokeswoman for the unions...For far too long, Oregonians have shouldered the burden of funding the state’s critical services, she said.”
Where do they find these idiots? Clearly she went to school in Oregon. Phil Knight was two years in front of me in the Business School...if only our paths had crossed and I’d offered to help he and Bill Bowerman with their shoes. Oh well.
Yep - love Tennessee. Mississippi has room for some manufacturers too.
You don’t understand how it works. These corporations now have a fig leaf to cover their skedaddle to China.
With Trump's assertion that they will have their product taxed "accordingly" as they cross our borders for our consumption, those fig leafs may not be adequate.
a post-Great Recession era.
News to me, when did that happen?
With 53 comments already, I am sure someone has already mentioned, that corporations do not pay taxes. Their consumers do. So how does Oregon think this is going to be a windfall, unless they are suffering from the progressive agenda and stupidity at the same time.
Well there you are six comments in and truth, squarely in the chops.
Next....a huge EXIT tax for businesses.
I can’t think of anything that would be better-—for Texas.
I believe the voters in Oregon can get what they want with this massive tax rise: a more egalitarian society where there will be less of a gap between rich and poor and a hard pressed middle class.
The result will be that almost everyone will be poor and the spotted owl will have no pressure from overpopulation.
List of largest employers in Oregon.
# Employer City Number of Employees
1 Nike Beaverton 20,000
2 Sylvan Learning Ctr-Bend Bend 15,000
3 ICS Blount Inc Portland 12,000
4 Ohana Party Rentals Portland 11,000
5 Oregon State University Corvallis 8,000
6 Intel Corp Hillsboro 6,300
7 Liberty Tax Svc Salem 6,000
8 Liberty Tax Svc Ashland 6,000
9 Nike Inc Beaverton 6,000
10 Hewlett-Packard Corvallis 5,500
11 Justice Dept Support Enfrcmnt Roseburg 5,000
12 Kaiser Permanente Brookside Clackamas 5,000
13 Sacred Heart Med Ctr Riverbend Springfield 5,000
14 Samaritan Health Svc Hospitals Corvallis 5,000
15 Legacy Emanuel Medical Ctr Portland 4,500
16 Asante Rogue Regioanl Med Ctr Medford 4,000
17 Peace Health Oregon Region Eugene 4,000
18 Portland Intl Airport-Pdx Portland 4,000
19 Falcon Construction Svc Roseburg 3,800
20 Espresso Prn Eugene 3,500
21 Providence Portland Med Ctr Portland 3,408
22 BS & Blue Portland 3,000
23 Portland State University Portland 3,000
24 Sacred Heart Medical Ctr Springfield 3,000
25 Salem Health Laboratories Salem 3,000
Some of these clearly can’t move. But some can.
(btw, Party supply?)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.