My thoughts:<\/p>\n
1) The fact that Clinton raised taxes, and then the economy recovered,
\nis not proof that raising taxes has no effect on the economy. Most
\npeople thing that there is at least some dampening effect, which is
\nespecially problematic in a downturn.<\/p>\n
2) Realistically, income tax response gets more elastic as the tax
\nregion gets smaller. Oregon borders two states with attractive
\nmigration possibilities. California’s taxes are no bargain–but
\nOregon’s relatively lower tax rates may have attracted wealthy
\nindividuals and businesses that will now find it not so attractive.<\/p>\n
3) The Tax Foundation says that pre-tax, it was on the top ten list for
\nbusiness tax climate. That suggests that it has relatively more room
\nto increase taxes than other states.<\/p>\n
4) The business tax changes apparently include a gross receipts tax<\/a>, 5) Trying to close the gap with only taxes on high income makes state 6) Since state income taxes are deductible from federal taxes, this 7) There aren’t that many attractive revenue-raising measures for state Yesterday, Oregon voters ratified two tax increases, one on high earners, and another a revision of the state’s corporate income tax. This is their strategy for plugging an enormous budget gap, like the ones that have opened up in state budgets around the country. Conservatives, predictably, say this heralds disaster for the state, as the […]<\/p>\n","protected":false},"author":80,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-238054","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/238054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/80"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=238054"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/238054\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=238054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=238054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=238054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nwhich is really an awful tax, especially during a downturn. Companies
\nwhich are actually losing money may still owe taxes, which could hasten
\ntheir closure, and the evaporation of any jobs they provide.<\/p>\n
\nrevenues very dependent on a very small group of people. Ask New York
\nand California how that’s going.<\/p>\n
\ndoesn’t entirely raise new tax revenue–much of it will be transferred
\nfrom the Federal government.<\/p>\n
\nbudgets during a downturn, nor is cutting services always optimal,
\nsince demand for them rises when the economy tanks. Ideally, states
\nwould run surpluses in the good years. Practically, it almost never
\nhappens.
\n
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