Riddle me this

Oregon raised it’s income tax on THE RICHEST 2% in 2009.

In 2009 the state legislature raised the tax rate to 10.8% on joint-filer income of between $250,000 and $500,000, and to 11% on income above $500,000.

Guess what happened? No, go ahead and guess! You’ll never get it.

Instead of $180 million collected last year from the new tax, the state received $130 million. The Eugene Register-Guard newspaper reports that after the tax was raised “income tax and other revenue collections began plunging so steeply that any gains from the two measures seemed trivial.”

You’re shocked, right? Totally didn’t see that coming. But, it’s more fair, of course.

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4 Comments on “Riddle me this”

  1. JAM2 Says:

    check this one out:
    http://washingtonexaminer.com/local/millionaires-leave-montgomery-causing-budget-woes

    same gig.
    Last year I saw a report of the same thing happening in NJ…. i couldn’t find the article to link though.

    We stupid types just need to remember dat the Govmint peoples is much way smahta den us’ins..

  2. Car in Says:

    Aberrations, apparently Jam2. Or Republican talking points.

    Raising taxes on the rich just HAS too bring in more money.

    It has to.

  3. Steve B Says:

    Lessee here. Just what demographic has the greatest ability to pull up stakes and roll to a more tax-friendly environment? A) Those who live hand to mouth, probably on some sort of federal assistance, and struggle just to make rent or mortgage payments, or B) A couple of techie DINKs with masters degrees in a high-demand field, who probably vacation twice a year anyway?

    You know, there actually IS a moral behind that whole goose/golden egg thing. It’s a tragedy most progs can’t read.

  4. Idaho Says:

    Hee hee.


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