Now They Want Your Kicker!

[66PonyCar]

A pair of Democratic lawmakers in the Oregon Legislature want to divert the kicker tax rebate on a one-time basis to help tackle the state's public pension crisis.



Oregon lawmakers want to divert likely $700M 'kicker' rebate to pensions

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[RicInOR]

you owe me a keyboard. covfefe spewed.
"one time ..." ha ha ha ha


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I can't tell you how many years I have had this discussion.
My argument is It is My money. Their argument, No it is the States. Then I ask if they expect change? Is it not the stores money at that point (restaurant whatever) ?

 

[66PonyCar]

PERS is like a black hole, it sucks in all the money. The latest estimate I saw was a $29 billion deficit. Brown wants another $2 billion for schools but a large portion of that will be going into PERS.

 

[surevaliance]

First - taxation without representation, now - requisitions.

 

[parallax]

I can't wait for the day I retire and get the government out of my wallet. I know I will always have to pay property tax. But. Just to cut them off of all the money I pay in income taxes is going to be epic. Own my home?? Stop paying property tax and see who really owns my home

 

[Flymph]

I can't wait for the day I retire and get the government out of my wallet. I know I will always have to pay property tax. But. Just to cut them off of all the money I pay in income taxes is going to be epic. Own my home?? Stop paying property tax and see who really owns my home

I think you still have to pay income tax on social security and retirement/pension... I could be wrong, but I have 40 years to figure that out.

This year, I'm gonna need my kicker!
Usually I just think they should have funded fisheries management better.

 

[ZA_Survivalist]

So because workers were promised the sun and the moon in their pensions tax payers have to cover it?

 

[cigars]

Screw these people. It's bad enough that they tax you on it again after you get it back. Hell is too good for these people.

 

[slimmer13]

I dont know what a kicker is. I thought they were trying to ban subwoofers.

I was thinking that will piss off their base.

 

[Member 5605]

bubblegum the public pension crisis.

They created it, they can eat their cake.

 

[308]

So they want to take our over tax payment and give it to someone other than the legitimate owner?

 

[Flymph]

How about they keep the kicker and lower our tax rates the following year?

 

[E4mafia]

I'll tell you the same thing everyone always says:

Get your hands out of my pockets and get a job ya bum!

I can't wait for the day I retire and get the government out of my wallet. I know I will always have to pay property tax. But. Just to cut them off of all the money I pay in income taxes is going to be epic. Own my home?? Stop paying property tax and see who really owns my home

See I always thought this was funny too about the type who brag about owning a home. Stop paying that property tax and you'll find out quick you really don't own it. Same to the folks who complain about taxes, you can check different numbers and not pay every pay period but get ready for that end of the year bill.

They got ya 6 ways from sunday

 

[notazombie]

So because workers were promised the sun and the moon in their pensions tax payers have to cover it?

Other peoples' money spends sooo much easier than your own.

 

[308]

Other peoples' money spends sooo much easier than your own.

Same goes for cigarettes and chew

 

[JuglansRegia]

PERS is like a black hole, it sucks in all the money. The latest estimate I saw was a $29 billion deficit. Brown wants another $2 billion for schools but a large portion of that will be going into PERS.

I heard for every dollar going into PERS, $3-4 is being paid out. I guess they are following the CA model, which I believe is $60 billion in the hole with their state employee retirement fund. If any private business ran such a scheme, it would be closed down and people put in jail for it.

 

[kenboy]

How about using the kicker money from all the sheeple that voted for Kate?

You wanted her in, you pay.

 

[66PonyCar]

According to this article, Oregon schools on average will be making a PERS contribution equal to 28.93% of their payroll costs. This is unsustainable and will climb higher in future years.

PERS' unfunded liability grew by $4.3 billion in 2018. And the situation may be worse than it appears.

 

[CamoDeafie]

Serious question. At what point of earnings would one receive a "kicker rebate"? I mean for the year of 2018, I didn't earn enough to pay taxes, so my tax return is supposed to be (100%)- social/medicare tax; which comes out to under $100; but theres nothing in the e-filing that says that I'll get a kicker from 2017 taxes... although I do distinctly remember asking to get whole return for 2017 tax returns and not choosing to "contribute" to anything...

So...what exactly is this kicker?

 

[66PonyCar]

Unique to Oregon, the kicker is technically a tax surplus credit, triggered when revenue for a two-year budget period exceeds projections by at least 2 percent. That money goes back to the taxpayers. The amount of the kicker you received is based on the Oregon tax that you paid in the prior year.

Voters approved a ballot measure creating both a personal and corporate tax kicker in 1980.

In 2000, they voted to enter the kicker into the Oregon Constitution so lawmakers can't suspend it and keep the money without a minimum two-thirds vote of both chambers. That override provision was used to suspend the 2005-07 corporate kicker.

And in 2012, voters approved a measure that sends the corporate kicker back to the state to provide additional funding for public schools, rather than returning the money to Oregon businesses. Although a large portion is actually going to pay the PERS liability.

Since the Dems have a supermajority in both chambers they could suspend it.