Proposed ballot measure to raise corporate taxes, give every Oregonian $750 a year likely to make November ballot

OregonLive ^ | 06/18/2024 | Carlos Fuentes

[little jeremiah]

Corporate taxes just make more businesses flee the state. So many shut down or left already because of the insane lawlessness in OR.

[little jeremiah]

PS - and illegals and other non-citizens vote here.

[Sooth2222]

The proposal, Initiative Petition 17, would establish a 3% tax on corporations’ sales in Oregon above $25 million and distribute that money equally among Oregonians of all ages.

So Amazon prices go up 3% in Oregon.

[Dutch Boy]

I am not sure if the payouts will be taxable. I am sure that when corporations are taxed, the customer is the one that ultimately pays, not the company.

[conservative_cyclist]

Wish I could Leave Oregon…..

[Paladin2]

Sounds like plenty-o-fun for the State Residents....

[itsahoot]

Corporate taxes is a tax on every customer

It is amazingly difficult to convince people that you cannot tax corporations because the corporate just increases the price.

I use simple term to no avail. Suppose you are in business making axe handle that you sell for $1.00 a piece and that nets you 25¢ profit. The government takes notice and decides to tax you 25¢ for every axe handle you make what do you do in response?

[itsahoot]

Are they raising the sales tax

No sales tax in Oregon.

[CurlyDave]

...Maybe I'm missing something or my math is off. I'm having trouble seeing enough sales in Oregon for this to add up. For every Oregonian to get $750 per year from this, if the Oregon population is 4.2 million, then for everybody to get $750 that's $3.2 billion. To get that amount from a 3% sales tax, then we're talking $105 trillion in sales...in Oregon...from the corporations that sell more than $25 million in Oregon (the first $25 million isn't taxed)...

Your math is off. $3.2 billion is 3% of $105 billion, not $105 trillion.

Another way to look at this is that each Oregonian is going to, on average, have to spend $25,000 at large corporations each year. From the oldest geezer to the newest baby.

A family of four has to spend $100k per year. Does rent count? Mortgage payments? How about franchises? Does a McDonald's owned by the corporation pay while a single store franchisee is exempt?

I have no idea what the total distortion of economy will result from this, but I can guarantee it will make the life of an average family worse, not better. But even more homeless freeloaders will flock to Oregon.

The measure will pass overwhelmingly. There is just no telling what you will get if you drag $750 through a trailer park or a homeless encampment.

[CurlyDave]

...$750 a year? Thats $62.50 per month. What the heck is that for?...

It will buy a medium bag of weed. Or two small ones.

[21twelve]

“They are going to be stunned when those corporations they tax to get the “free” money start increasing prices.”

Yep - idiots. Here in Washington state the governor put the carbon tax on those that put off the most CO2 - gasoline producers and natural gas.

“Hey - how come we are paying 60 cents more at the pump and my heating bill is so much higher!!?? That tax was supposed to be on the oil companies!!!”

Same goes for the increased property taxes, and renters wonder why their rent goes up. “I voted for it because I don’t own any property - but then that greedy landlord raises my rent!”

Sadly, even Governor Jay (want’s to be President) Inslee that is pushing all of this climate change crap is still saying that it is the companies that is paying for it.

The debate is now whether he is that stupid or just lying. I go with “all of the above”.

[Tell It Right]

Thanks for the correction on my miscounting of commas. LOL

[bert]

While Chairman Xi is successfully eliminating corporations in China, the legislature is contemplating eliminating corporations in Oregon