Friday, August 22, 2008

Measure 59: "No Gain, Just Pain"

Bill Sizemore's Ballot Measure 59 would give the richest 1% of Oregonians an average tax break of over $15,000 a year while middle-income families would

Posted By on Fri, Aug 22, 2008 at 8:27 AM

Bill Sizemore's Ballot Measure 59 would give the richest 1% of Oregonians an average tax break of over $15,000 a year while middle-income families would get the impressive sum of - are you ready for it? - two bucks.

That's according to a study released this week by the Oregon Center for Public Policy.

Measure 59 would let Oregonians deduct the full amount of their federal income tax payments from their state income tax. Currently the deduction is capped at $5,000 - and about 75% of Oregon households fall under that limit.

The wealthiest 1% of Oregon households would get about half of the total tax break under Measure 59, according to the OCPP analysis, and fewer than one out of four taxpayers would get any tax benefit at all. The top 1% -- average annual incomes of over a million dollars - would get an average cut of $15,800, while middle-income households ($30,600 to $50,000 annual income) would get just $2.

The OCPP calculates that Measure 59 would cost the state between $1.1 billion and $2.4 billion each biennium, depending on how federal tax law changes. "Just the conservative $1.1 billion cost estimate is equivalent to the total funding that Oregon's public universities will receive from the state in the current biennium or to cutting the salaries of all Oregon K-12 public school teachers by 70%," the OCPP said.

"Measure 59 is a raw deal for Oregonians," said OCPP policy analyst Michael Leachman. "It's a scheme slanted heavily in favor of the state's wealthiest households. Most Oregonians get nothing but significant cuts to important public services."

Oregonians defeated a measure similar to 59 in 2000. Only three other states - Alabama, Louisiana and Iowa - presently allow 100% deduction of federal tax payments.

  • Pin It

Comments (4)

Showing 1-4 of 4

Add a comment

Subscribe to this thread:
Showing 1-4 of 4

Add a comment

More by H. Bruce Miller

  • Who is John Galt? Who Gives a Crap?: Atlas Shrugged's tea party flops hard

    Members of the Ayn Rand cult have waited 54 years for a movie version of her magnum opus, Atlas Shrugged. They finally have one that's true to the letter and spirit of the book. And that's the problem.
    • May 11, 2011
  • LandWatch Goes to the Mattresses Over Resorts

    The fight over Deschutes County's new destination resort rules isn't finished yet: Central Oregon LandWatch has put the county on notice that it plans to challenge them. LandWatch filed ìnotices of intent to appealî Thursday with the state Land Use Board of Appeals, charging that the county's new rules for determining what lands are eligible for resorts ìactually increase the development potential in the county.
    • Aug 23, 2010
  • Waste and Fraud: Walden Goes After the Big Game

    Eastern Oregon's own Rep. Greg Walden and a couple of other Republican congressmen have unleashed their righteous wrath on a federal program that helps low-income folks heat their homes.
    • Jul 2, 2010
  • More »

Latest in The Wandering Eye

  • Moonshine Magic in Bend Still on the Down Low

    Get ready for our great close-up on the home distilling community out next week in our "Best of" issue. We interviewed a mixed bag of legal and anarchist distillers in Bend to find out why distilling is so very, very against the law in one's home.
    • Aug 9, 2012
  • The Eye Wanders Off Into the Sunset

    I’m really sorry to break the bad news to them during this season of peace and goodwill, but after this week the right-wingers in Bend and vicinity won’t have The Wandering Eye to kick around anymore. The decision to stop writing this blog was my own, and it was prompted by several factors.
    • Dec 26, 2010
  • DADT, Gay-Bashing and the "Icky-ness" Factor

    For the past week or so, “Zeo” of the NW Republican blog has had his jock strap in a knot over the prospect of Congress repealing the military’s “Don’t Ask Don’t Tell” rule. To hear Zeo tell it, if DADT is repealed and gays are allowed to serve openly in the US military it will mean the end not only of our armed forces but of America, its economic system and civilization in general.
    • Dec 19, 2010
  • More »

© 2016 LAY IT OUT INC | 704 NW GEORGIA, BEND, OREGON 97703  |   Privacy Policy

Website powered by Foundation