Assaulting “Corporate Profits” Will Hit Average Oregonians

– Steve Buckstein, Cascade Policy Institute

A union-backed group is planning to put an initiative on Oregon’s 2016 General Election ballot that would result in the largest tax increase in Oregon history. Designed to tax sales of large corporations doing business in Oregon, Initiative Petition 28 may raise more than $5 billion every biennium…

…neither large nor small corporations have a magic pot of money from which they can painlessly bestow more to government…

The tax measure in question basically will impose a 2.5 percent gross receipts tax on most corporate sales above $25 million in the state, on top of other business taxes…

We Respond & Your Comments

Governor Brown Comes a’Calling

Business owner looking to relocate: Thanks for coming, Governor Brown.

Gov. Brown: Glad to be here. We want you to re-locate to Oregon.

Owner: Governor Brown, look: Oregon has the third highest capital gains tax rate in America and may impose a 2.5% gross receipts tax on my sales above $25 million.

Gov. Brown: But we have a great transportation system!

Owner: So does Nevada. And they don’t have Oregon’s 9.9 percent personal income tax.

Gov. Brown: But Oregon has a wonderful quality of life!

Owner: Ever put that in the bank, Governor? And Nevada’s a right to work state.

Gov. Brown: But we have great schools!

Owner: Look: I own this company. Oregon has one of the few death taxes left. Nevada doesn’t. When I die I won’t give you ten percent of the money I’ve worked for.

Gov. Brown: Don’t you think you should pay your fair share?

Owner: To paraphrase economist Thomas Sowell, what’s someone else’s “fair share” of money I worked for? Thanks again for coming. If you’ll excuse me, I’m late for a meeting with Governor Sandoval. He’s just in from Reno.

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