Thursday, January 28, 2010

Oregon Voters Raise Taxes on Corporations and the Rich

Five days ago I encouraged support for Oregon Measures 66 and 67.  I’m happy to announce that both passed.

Yes_for_Oregon Oregon voters bucked decades of anti-tax and anti-Salem sentiment Tuesday, raising taxes on corporations and the wealthy to prevent further erosion of public schools and other state services.

The tax measures passed easily, with late returns showing a 54 percent to 46 percent ratio. Measure 66 raises taxes on households with taxable income above $250,000, and Measure 67 sets higher minimum taxes on corporations and increases the tax rate on upper-level profits.

The results triggered waves of relief from educators and legislative leaders, who were facing an estimated $727 million shortfall in the current two-year budget if the measures failed.

"We're absolutely ecstatic," said Hanna Vandering, a physical education teacher from Beaverton and vice president of the statewide teachers union. "What Oregonians said today is they believe in public education and vital services."

The double-barreled victory is the first voter-approved statewide income tax increase since the 1930s. Other states, facing similar budget woes, are watching the outcome closely because Oregon, after all, is a state that capped property taxes and locked a surplus tax rebate program into the constitution… [emphasis added]

Inserted from <Common Dreams>

The people of Oregon, although progressive in many ways, have a long standing antipathy to taxes.  Nevertheless, we recognized that it’s time for the rich, including corporations, to pay more.  We saw through an onslaught of rabid-right advertising laden with lies.  We have set the example for America.  Follow our lead!


Lisa G. said...

Our 3% was almost raised to 5% and you would have thought the world was going to end.

TomCat said...

I can believe that!