OREGON’S TOP TAX RATE COULD REACH 57.5 PERCENT, SECOND HIGHEST IN THE WORLD

Salem, Washington D.C. Dems Teaming Up To Kill Oregon Jobs

Congressional Democrats’ Health Care Surtax Would Put Oregon at the Top…

"The proposed health care surtax now making its way through Congress is a three-tiered plan requiring a 5.4 percent surtax for couples with an adjusted gross income of more than $1 million and individuals with an AGI of $800,000. Households with an AGI between $350,000 and $500,000 would face a 1 percent surtax and those with an AGI between $500,000 and $1 million would face a 1.5 percent surtax. "

(Health Care and Taxes: 10 Worst States for the Rich, ABC News, Nathalie Tadena and Alice Gomstyn, 7/20/2009)

…With the Highest Combined Top-Income Tax Rate if it Becomes Law.

1. Oregon: 57.54 percent

"Why is Oregon at the top of the list? Both state taxes and municipal income taxes are to blame. Oregon's legislators recently approved provisions for a new tax income rate of 10.8 percent for individuals with taxable incomes higher than $125,000 and an 11 percent top rate for the state's wealthiest. Lawmakers said the increase would raise $488 million to help balance the state budget. Oregon is also one of more than just a dozen states in the country that has municipal income taxes. Municipal income taxes average 0.36 percent in the Beaver State.”

(Health Care and Taxes: 10 Worst States for the Rich, ABC News, Nathalie Tadena and Alice Gomstyn, 7/20/2009 emphasis added.)

Higher than all other States and Sweden, Belgium, Japan, France, etc.

(A Reckless Congress, Wall Street Journal, Opinion, 7/20/2009)

Meanwhile, Governor Signs Job-Killing Tax Increases…

“Gov. Ted Kulongoski has signed a $733 million tax increase plan he says will protect schools and state programs from budget cuts...

“Opponents, who plan to file paperwork Tuesday to launch their referendum drive, say the taxes are a ‘job killer’ that will slow Oregon's economic recovery.”

(Oregon Governor Signs Tax Increases, Associated Press, Brad Cain, 7/20/2009)

…As Oregon Continues to Lose Private Sector Jobs.

“In June, Oregon’s seasonally adjusted nonfarm payroll employment declined by 7,200 jobs, following a drop of 1,600 (as revised) in May. This marked the 11th consecutive month of decline for this measure of employment.”

(Oregon's Employment Situation: June 2009. Oregon Employment Department, 7/13/2009)

Oregon: A National Leader in High Taxes, High Unemployment.

(Oregon's Employment Situation: June 2009. Oregon Employment Department, 7/13/2009)