Monday, June 01, 2009

Tax The Wealthy

I'm liking what I'm seeing lately. Some folks are speaking out about how corporations and wealthy people in general are not paying their fair share of taxes here in Oregon. I've been thinking and writing about this for some time, myself. If Capitalism truly worked these days, our state and country would be in much better shape than it currently is. As the wealth divide continues to grow, so do the voices of the have-nots. Reminds me of "It was the best of times; it was the worst of times" if you catch my drift.

Here's a few quotes from folks at the Oregon Center For Public Policy...

"I’m talking about a change in the political climate in Oregon that would melt lawmakers’ reluctance to reform our corporate tax system — change that would fulfill Oregonians’ desire to see large corporations doing business here pay their fair share in taxes."

"The number of large profitable corporations paying the minimum tax (almost two out of three) is the miners’ canary of a broken tax system. More than 5,000 profitable corporations operating in Oregon paid no income taxes in 2006 beyond the $10 minimum, and 31 of those freeloaders had more than $1 million in Oregon taxable income." Chuck Sheketoff, their director

"For too long, Oregon has asked low- and middle-income families to sacrifice more than those who can most afford it. And when times get tough, some lawmakers propose a sales tax or a no-new-revenue, all-cuts budget, both of which are fundamentally regressive and hit low-income households hardest. That isn't right."

"What would happen if the Legislature chose to apply a 12 percent bracket to those making $250,000 or more? The bulk of the tax increase would apply to those in the top 1 percent of the income scale. To enter this rarified level, you must make in excess of $385,000 a year. For the average member of the group, the yearly income tops $1 million. For those members, the new 12 percent tax bracket means they would contribute about $16,530 more each year on average -- less than their average weekly paycheck." Joe Rodriguez, Ken Lewis and Mary Fellows, board members

Right on! (I say up it to 20%)Let's keep talking! Let's keep beating the drum! Let's fix this!

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