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You voted to tax the rich

Discussion in 'Off Topic' started by Just Jim, Dec 23, 2010.

  1. Just Jim

    Just Jim Well-Known Member

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    Guess it didn't work. :bluelaugh::bluelaugh:

    Big tax hike in Oregon results in substantially less revenue

    Of all those people who left Oregon how many jobs did they take with them?

    "
    The tax wasn't enacted into law until June 2009 but was retroactively applied to January 1, 2009. So for the first half of the year wealthy Oregon residents weren't able to take steps to avoid the tax ambush because they didn't see it coming. This suggests that a bigger revenue loss from tax mitigation strategies will show up on tax return data in 2010 and 2011. The Revenue Office has already downwardly revised tax collection projections for the first three years by one-third."

    Read more at the Washington Examiner: http://washingtonexaminer.com/blogs...ults-substantially-less-revenue#ixzz18x3Pt5MQ

    jj
     
  2. Bad Droid

    Bad Droid Hillsbarrio Member

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    ...and a week after this nonsense passed, the mayor and his butties had a "brain storming" or "think tank" session on how to attract more businesses to the area. Unbelievable.
     
  3. MA Duce

    MA Duce Central Oregon Well-Known Member

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    This law was a freaking nightmare. Some of us file quarterly estimated taxes, and if you do not withhold enough you are liable for a penalty. When something is passed in June and then made retroactive your previously filed estimated taxes are obviously incorrect. There is a huge paper mountain required to certify and refile to avoid a penalty. The only ones seeing this stupid legislation as a good deal are the attorneys who are hired to try to deal with the tax issues arising from it.
     
  4. fuhr52

    fuhr52 Lane County. Oregon Well-Known Member

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    If you want less of something tax it. This works every time it is done and yet the politicians keep doing it. Correct me if I'm wrong here, but isn't insanity defined as doing the same thing and expecting a different outcome? That tells me the politicians that we keep re-electing are insane.
     
  5. Chee-to

    Chee-to Oregon Well-Known Member

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    Along with the idiots that keep voting for them !
     
  6. PlayboyPenguin

    PlayboyPenguin Pacific Northwest Well-Known Member 2016 Volunteer

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    Just curious, did people actually leave the state? Is income down in the same percentages as tax revenue? Or did people ake just as much money and some just left the state?
     
  7. Barefoot343

    Barefoot343 liberalville Active Member

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    WE have a winner!!!!!

    I never have understood why Oregon is so stupid in that regard.
     
  8. Mutoman

    Mutoman North Bend Active Member

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    Those questions sound too rational for this topic!
     
  9. Jamie6.5

    Jamie6.5 Western OR Well-Known Member

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    Paging Dr. Moonbeam.
    Paging Dr. Moonbeam.

    Dr. Moonbeam to the statehouse please.
    The Governor's chair is waiting.

    Dr. Moonbeam?!? Are you there?!?
     
  10. PlayboyPenguin

    PlayboyPenguin Pacific Northwest Well-Known Member 2016 Volunteer

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    I was just curious if this article had any facts behind it. I know other states have lost huge amounts of revenue too. I was wondering if Oregon lost a larger percentage or smaller. Would income have been even lower without the new tax law?
     
  11. elsullo

    elsullo Portland Oregon New Member

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    That article omits a few significant details, such as a WORLD WIDE RECESSION where even a quarter of the "rich" taxpayers have lost money on investments and can thus write-off other lost income and thus pay less taxes, or no taxes. They may have "disappeared" from the tax-paying rolls, but not necessarily moved out from the state; and no corporations have fled just because of a SMALL increase in their minimum corporate tax. The article aslo repeats the lie that Oregon has the "highest tax rates in the nation", but FORGETS TO NOTE OUR UNIQUE LACK OF A SALES TAX! Lies by ommission are still LIES. Is it even worth mentioning that it is easy to avoid taxes by simply re-investing income back into the business?

    I DO agree that making those new tax laws retroactive to the start of the year was rotten. But raising income taxes on corporations and rich people was a very good thing, since we don't have what we really need for more tax fairness: a sales tax! I'd LOVE to see drug dealers and pimps paying their sales tax on their cigars and gold hubcaps so that we could reduce property taxes and enact the Homestead Exemption. Anybody remember that DECENT tax reduction plan?

    These economic issues need a whole lot more analysis than what is found in biased blog reports and excerpts. Oh, yeah, if the rich corporations pay a little more taxes that won't be the main cause for them to leave the state, and then the rest of us can afford to buy more guns and ammo.................................elsullo

     
  12. Cougfan2

    Cougfan2 Hillsboro, OR Well-Known Member

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    I would be happy to trade my property tax bill for a reasonable sales tax, because a sales tax is the fairest kind of tax there is. It is a consumption tax. If you don't consume it, you aren't taxed for it.
     
  13. MA Duce

    MA Duce Central Oregon Well-Known Member

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    You can argue tax increases either way...but making a tax RETROACTIVE for six months was just plain unfair to small business owners. If you want to stimulate the economy, or fund state operations...fine. But do it fairly.
     
  14. WhyteCheddar

    WhyteCheddar East of Moscow by the Willamette Well-Known Member

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    Ya, tax the rich. That will fix everything.
    sheesh.
     
  15. MrNiceGuy

    MrNiceGuy between springfield and shelbyville Well-Known Member

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    What?
    How can you say that retroactively taxing small business during a huge economic downturn was unfair?

    Tax increases were the only way to pay for the unemployment for all of those small business employees that had to be laid off because of the tax increases.
     
  16. elsullo

    elsullo Portland Oregon New Member

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    Can you point to any actual EVIDENCE for that speculation? Documentaton? News reports? Something besides "conservative" blog verbiage? Statements like yours are often simply MADE UP to serve an opinion, but gain credence amongst the ignorant even when false..........................elsullo :confused:
     
  17. jib

    jib Central OR Active Member

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    Money is transient, if it feels threatened or endanger it will migrate somewhere else.
    The fact is more taxes equal less revenue, less tax equals more, Oregonians need to elect people that understand this simple concept.
     
  18. MA Duce

    MA Duce Central Oregon Well-Known Member

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    Sorry.....let me drink this cup of Democratic kool-aid......OK I see your point now. I am now convinced that we can tax our way out of recession...what was I thinking???? :huh:
     
  19. PlayboyPenguin

    PlayboyPenguin Pacific Northwest Well-Known Member 2016 Volunteer

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    How many companies left Oregon for other states of the union? How many rich people moved from the state?
     
  20. MrNiceGuy

    MrNiceGuy between springfield and shelbyville Well-Known Member

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    I didnt read this on any blog or hear it on any show.
    I could give you the names and phone numbers of the people I had to lay off... but I think I'd be violating some privacy laws.

    When a business is barely scraping buy, and taxes are not only raised but made retroactive, you have to cut all corners possible. One of the easiest ways to free up revenue is to cut employees and consolidate duties.

    When you get a 5+ figure tax bill at the end of the year, you better have the money in the bank to cover it... The state needs more money to pay the newly unemployed that were laid off in order to pay the taxes that the state needs to pay the unemployed etc etc etc.

    But please, dont let reality get in the way of your 9 to 5 world. Idealism rocks. "rich" people and small businesses are evil... homeless panhandlers... that's the real moral high ground. :p