Crazy Oregon Very Slightly Taxes Wealthy Citizens and Corporations to Fund Schools and Public...

Crazy Oregon Very Slightly Taxes Wealthy Citizens and Corporations to Fund Schools and Public Services

In light of Barack Obama’s pretty bullshit spending freeze scheme-you know, the one that affects programs like “air traffic control, farm subsidies, education, nutrition and national parks”-the success of two ballot initiatives in Oregon yesterday are fascinating! The state will raise, by nearly two whopping percentage points, taxes on households that earn more than $250,000 a year (which, in Oregon, is basically the equivalent of three miiilllllion New York City dollars) and will also raise the state’s minimum corporate income tax. How radical! No wait, let’s take a closer look at that one. Since 1931, all businesses in Oregon have been required to pay a minimum of $10 a year in tax. (TEN DOLLARS.) That minimum tax amount, for corporations making up to half a million a year, will now be $150. It also increases very minimally the filing fees for businesses, and increases, very slightly, tax rates on large and profitable companies. And all of this excludes sole proprietors. How did a crummy state like Oregon come up with such a mind-blowing idea? Maybe other people will try this so that “air traffic controllers” and “nutrition” can continue to exist.