Oregon is ranked dead last among the fifty states in corporate taxes. That’s why Measure 97 is on the ballot come election day in November. The top federal corporate rate is 35 percent, yet many corporations making billions of dollars a year each pay little or no taxes. In many cases, corporations receive federal tax rebates by the billions on taxes they never paid. That means the effective tax rate for many major corporations is negative. This explains another reality; US corporations are the least taxed of any major industrialized nation, regardless of the myths and lies thrown out by the Fox Propaganda and other networks.
Corporations like Nike currently own such Oregon politicians as Wall Street Senator Ron Wyden, Wall Street congressional representatives Earl Blumenauer, Greg Walden, Suzanne Bonamici and Kurt Schrader. These representatives are always voting to redistribute income from the 99 to the 1 percent on behalf of big corporations. Corporations should be made to pay higher state taxes in Oregon in order to pay the people of Oregon for the use of their politicians.
When you total up all the taxes businesses really pay, and compare that amount to the total corporate profits generated in the state, liberal Oregon is dead last. That’s the best way to compare effective tax rates. Other rankings, like those published by the Tax Foundation, ignore the actual amount of taxes companies pay and focus instead on incidental factors.
Most state rankings have a fair degree of variability, with states jostling around a bit in the rankings year to year. That Oregon has remained at the bottom of these rankings for the past three years is a strong sign of just how little corporations pay in taxes in the state, compared to the profits they make in the state.
While Oregon lets big corporations skate by and pay low minimum taxes, the state’s schools and services remain critically underfunded. If Oregon’s corporate tax collections were in line with the rest of the country, Oregon would have the revenue it needs to fund strong schools and services that will grow our economy and help hard-working Oregonians get ahead, protect their health, and retire with dignity.
Measure 97 is the solution to Oregon’s low corporate taxes. By focusing a tax increase only on large C corporations, those doing more than $25 million in Oregon sales, Measure 97 will raise significant revenues for the investments that grow Oregon’s economy, all while protecting smaller businesses that are already paying their fair share.