Background:
Measure 66- raises income taxes on those who earn more than $125,000 and couples who earn more than $250,000 (less than 3% of the state's population)
Measure 67-raises taxes and fees on most businesses
The tax increases should raise $727 million that will be used for public education and social services. Originally, it was approved last year by the Legislature but put down after a petition campaign.
Remember that Oregon is one out of five states without state sales tax so the state is dependent on income and property taxes. Oregon currently has a 11% unemployment rate. Unions of teachers and public employees managed to get enough support to implement measure 67 even though businesses groups objected.
I'm glad that this money is going towards public education and social services. I think that the recession allowed the people to agree on an income tax. Although it doesn't seem very fair considering only 3% of the state will actually be paying what the entire state voted on. Either way they would get beat right? But I guess they can better afford to pay a bit more. What I am more surprised about is that it only took a year for Oregon to approve of the tax increase after the petition last year.
Tuesday, January 26, 2010
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3 comments:
I agree with Lily that is it great more money will be going to education and much needed social servies. It is also fortunate that the tax with only affect 3% of the population. At the same time though, its easy to imagine how frustrating it would be to be in that small percentage who recieves the tax increase. I think the majority should make the decisions, but those few individuals who are paying the new taxs should receive certain benefits possibly.
Taxes should be relatively reasonable in a way that supports the government but does not waste American money on useless, hopeless, failing, discouraging programs. I am not in favor of HUGE tax cuts but this goes more into a philosophical debate, I suppose.
This article doesn't really have to do about tax cuts but about the majority choosing for the minority. The majority loses nothing from the decision and the minority loses. I guess this has something to do with the debate on whether multimillionaries should be taxed more if the public demands it. (since they can afford to give up more)
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