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Real World Consequences of Oregon's Tax Increase

336 Views 3 Replies 3 Participants Last post by  bdee
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But this time the real triumph of liberal fuzzy thinking was making the tax increase retroactive. I asked the government if I could avoid the increase by retroactively moving out of the state. Surprise, surprise, it said no.
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Oregon raised its income tax on the richest 2% of its residents last year to fix its budget hole, but now the state treasury admits it collected nearly one-third less revenue than the bean counters projected. The sun also rose in the east, and the Cubs didn't win the World Series.

In 2009 the state legislature raised the tax rate to 10.8% on joint-filer income of between $250,000 and $500,000, and to 11% on income above $500,000. Only New York City's rate is higher. Oregon's liberal voters ratified the tax increase on individuals and another on businesses in January of ...
California has long since had the same problems. They raise taxes and plenty of folks have left the state. They have taken their businesses with them. It's a downward spiral there.
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