Well, it happened.. a new tax proposal just passed in Oregon.
Measure 67.
Under the banner of making selfish, greedy business owners pay “their fair share”
incorporated businesses will now be taxed a percentage based on their revenue instead of profits.
Thats right.. businesses not making a profit will be taxed on their gross revenue.
Revenue, not profits.
In a state with one of the highest unemployment rates in the nation.
Fucking brilliant.
That’s amazing. It’s like we’re watching socialism devour itself in real time. A healthy, small business with no profits is typically reinvesting in itself and expanding(“making jobs,” in socialist-speak). Any money they take out of that process will only discourage expansion and lessen future revenues. Not only are they statists, they are particularly dumb and shortsighted statists.
That’s amazing. It’s like we’re watching socialism devour itself in real time. A healthy, small business with no profits is typically reinvesting in itself and expanding(“making jobs,” in socialist-speak). Any money they take out of that process will only discourage expansion and lessen future revenues. Not only are they statists, they are particularly dumb and shortsighted statists.
If anyone lives in a relatively sane low tax state that needs a successful well run izakaya I will be looking to flee with my greedy selfish productive ways.
As an oregonian myself, I am disgusted by the results here. This isn’t going to make my job hunt any easier…
As an oregonian myself, I am disgusted by the results here. This isn’t going to make my job hunt any easier…
Holy crap! An Oregonian that isn’t a socialist? If you’re ever in downtown pdx let me buy you a drink.
Capitalists in pdx are as rare as unicorns or a sighting of Brigadoon!
I think this really drives home Rand’s point about how anti-life collectivists are.
On the many tax proposals that have come up over the last few years (most being shot down) business interests have always pointed out the truth- businesses don’t pay taxes- people do. We pass our cost on. You tax us higher and we raise our prices proportionately.
So, this year the geniuses in the govt worker’s union and in Salem had a genius idea- we will keep them from passing on the cost.
Since the tax is on revenue, not profit… if you charge more to cover the tax.. you get taxed more..
..um.. right up until YOU LEAVE STATE AND TAKE ALL THE JOBS WITH YOU!!
Sorry for the all caps… I’m in a mixture of shock and rage. For every business that has been trying to weather out the recession by just making ends meet this is a disaster.