Poll Shows Oregonians Passing Tax Measures That Hit Banks, Credit Card Companies
Newswire Services
January 22, 2010
Salem, OR -- A new voter poll by Davis, Hibbits, Midghall show Oregon voters giving the thumbs up to two tax measures, Measures 66 and 67. Voters favored Measure 66, by 52 percent to 39 percent and supported Measure 67 by 50 percent to 40 percent.
"It's time corporations and the wealthy paid their fair share," said Leslie Harper, a teacher's aide at a middle school in Salem, Oregon. Harper already returned her ballot in the special election that will be decided January 26.
Measures 66 and 67 raise the corporate minimum tax from $10 to $150 for the first time since 1931, increase the tax rate on corporate profits and raise the tax rate on household income above $250,000. Currently over 90% of corporations doing business in Oregon pay just the $10 a year corporate minimum income tax.
The new corporate alternative minimum tax - approximately 0.1% of a corporation's Oregon revenues - is for C corporations that claim no profits and is capped at $100,000 for corporations with over $100 million in Oregon sales. Of the 104 corporations expected to pay that "maximum minimum" of $100,000, 77 are headquartered out of state and include banks and credit card companies.
Oregonians have been hit hard by the recession and many of the public services working families rely on are in jeopardy in the measures fail. Oregon has more than 200,000 citizens unemployed or underemployed. The state is now 2nd in the nation in terms of hunger, according to the Oregon Hunger Task Force. 650,000 more Oregonians now rely on food stamps or one out of six Oregon residents. The bump in food stamp is a likely product of Oregon's unemployment picture.
Passage of Measures 66 and 67 protect nearly $1 billion in funding for schools, health care, and public safety.
"It's time corporations and the wealthy paid their fair share," said Leslie Harper, a teacher's aide at a middle school in Salem, Oregon. Harper already returned her ballot in the special election that will be decided January 26.
Measures 66 and 67 raise the corporate minimum tax from $10 to $150 for the first time since 1931, increase the tax rate on corporate profits and raise the tax rate on household income above $250,000. Currently over 90% of corporations doing business in Oregon pay just the $10 a year corporate minimum income tax.
The new corporate alternative minimum tax - approximately 0.1% of a corporation's Oregon revenues - is for C corporations that claim no profits and is capped at $100,000 for corporations with over $100 million in Oregon sales. Of the 104 corporations expected to pay that "maximum minimum" of $100,000, 77 are headquartered out of state and include banks and credit card companies.
Oregonians have been hit hard by the recession and many of the public services working families rely on are in jeopardy in the measures fail. Oregon has more than 200,000 citizens unemployed or underemployed. The state is now 2nd in the nation in terms of hunger, according to the Oregon Hunger Task Force. 650,000 more Oregonians now rely on food stamps or one out of six Oregon residents. The bump in food stamp is a likely product of Oregon's unemployment picture.
Passage of Measures 66 and 67 protect nearly $1 billion in funding for schools, health care, and public safety.
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