Oregon lawmakers aim to raise $275 million in taxes on wealthy, corporations
Source: Oregonian online
SALEM -- Oregon Democrats want to tax high-earners and corporations to fill a $275 million hole in their proposed state budget.
Under the plan, individuals with taxable incomes of $125,000 or more and couples with joint incomes of $250,000 or more would be subject to a limit on income tax deductions, similar to federal tax rules. Those same taxpayers would also see a reduction or elimination of their personal exemption.
Corporations would face a higher minimum payment. The bill also targets loopholes that allow corporations to move money to off-shore "tax havens."
House Speaker Tina Kotek, D-Portland, and Rep. Peter Buckley, D-Ashland, the chief budget writer for the House, rolled out the plan Monday afternoon.
Read more: http://www.oregonlive.com/politics/index.ssf/2013/04/oregon_lawmakers_aim_to_raise.html
Funding schools, yes that's a necessity.
Nika
(546 posts)propose in a meaningful way a plan that raises taxes on this who can well afford to pay their fair share of the tax burden we all have to deal with as citizens of this state and country.
Left Coast2020
(2,397 posts)Now if that Bill Sizemore moron keeps his nose out of the issue, the state will be that much better--in terms of keeping schools running. Hell, I think it was measure 5 or 8 that passed cutting $$ to OSU and U of O in late 80's. Cut friggin funding for my program and hit the community colleges especially hard...LCC, Linn Benton, etc. I hope they can pass this. Should have done it after Mr. O was elected.
kestrel91316
(51,666 posts)bhikkhu
(10,724 posts)and I really wish I made enough to be affected - I'd be happy to pay. But I've got a long way to go. I only know a couple people in my area that make that much (though that won't will stop anyone in this R-leaning town from complaining about it!).
LuckyLib
(6,819 posts)fair share, "Corporations would face a higher minimum payment. The bill also targets loopholes that allow corporations to move money to off-shore "tax havens." Yes!
Coyotl
(15,262 posts)Time to restore the balance.