Can Oregon tax it way out of recession into prosperity?
By bobmnu
@bobmnu (8157)
United States
January 27, 2010 1:24am CST
This is the question raised by the Wall Street Journal (WSJ) in an article about the state of Oregon new tax proposal before voters. There are two proposals infront of the voters. One would raise the top income tax rate from 9% to 11%. The other would raise the business income tax from 6.6% to 7.9% and would change to a tax on gross receipts. The one thing that both proposals have in common is that they are retroactive to January 1, 2009.
http://online.wsj.com/article/SB10001424052748704081704574652683989209884.html
Is this the way to turn around the 11.1% unemployment in the state and return prosperity to the state?
1 response
@Destiny007 (5805)
• United States
27 Jan 10
Oh absolutely, and it will work wonders for bringing new business into the state.
No... Raising taxes, and then making them retroactive will have the exact opposite of the desired goal. It will not help the economy, it will make the problems much worse.
Don't tell me, let me guess... it is a Libturd idea.