|Author||Subject: More Tax Cuts for the Wealthy – Oregon Style.|
|Watchdog|| Posted At 11:19:36 04/12/2001
I know this isn't workers'comp related, But it does affect all working citizens in Oregon.
Senate Bill 67, targets its $500 million tax relief to Oregon’s least needy taxpayers – high-earning individuals and large corporations.
According to the Oregon Center for Public Policy (OCCP), SB 67 which would cut Oregon’s capital gains tax by more than 50% would provide little or no tax relief for working families but huge windfalls for the wealthy.
OCCP, relying on a study by the Institute on Taxation and Economic Policy, found that under SB 67 The top 1% of Oregon families, with average annual incomes of $923,000, would receive 55% of its tax cuts.
The bottom 80% would receive an average tax cut of just $26, amounting to 8% of the total tax cut.
The poorest 20% would take home an average of just six cents.
SB 67 is sponsored by "You guessed it", Associated Oregon Industries
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