T1B

This is an Oregonian tax that would impose a 2.5% tax on any company that grosses over $25 million a year. Apparently, anything that the company makes after that initial $25M is taxed on the gross income, not after any expenses. Supposedly, the tax revenue would then go towards education, although it doesn't sound like it is protected as such. The problem, from what I understand of it, is that high volume, low profit businesses will get crushed due to the penalty on what comes through the door, not on what is factored after business costs.

How are you reading this Measure, Dins?

Nevermind reading into it, who sponsored it in the first place?

Everything is always 'for the children' until it isn't
Who are the beneficiaries? Vote out and boycott.

The beneficiary is the place the company moves to after it gets tired of being raped.

Ct is going through the same shit. We have a dem. monopoly of government who has given the state employee unions pretty much anything they want. And companies have been leaving and will continue to. As a result, the state has an unemployement rate higher than the mythical 5% average. States seem to have some idea that they are wonderful and no one would dare leave. Well, they have.

State line business hopping happens constantly in these parts with all local city, county and MO/KS tripping over each others dicks offering all kinds of tax incentives to get companies to move 10-20 miles east or west. It's a zero sum game as they basically even out over the long term.

The only real winners or losers are the employees who get either a shorter or longer commute.

It's prolly a zero sum game between MO and KS who likely arent that different when it comes to how much jack they pull from you. Not so in my charming little state. We are officially numero uno in the fiscal mismanagement state power ranking. Actually, if you count PR, we are number 2, but my boy Dannel Malloy has them in his sights. If the OL and I were not gainfully employed in gigs making pretty fukking decent jack, I'd fix up this fukking hovel and sell while I still could. My attitude now is either we spiff it up and sell soon, or we just resign ourselves to dying here and not give a fukk about plummeting property values. Of course then I'd have to go all Derron and shit and turn the place into a bunker.

You want to know what is fukking sad, I look at this election, the state of the world in general and start thinking what I used to hear from my father in law the last few years of his life, "this place is going to shit fast, good thing i'll be worm food and it won't be my problem".

I ain't quite there yet though. So, I suppose I will get back out there and finish my current hovel improvement project, a curtain drain. Putting it in because I got tired of dealing with ice damns caused largely by gutters. Rip them the fukk down and put in curtain drains.

smackaholic wrote:We have a dem. monopoly of government who has given the state employee unions pretty much anything they want.

DINGDINGDING!!!!! WE HAVE A WINNER!

The SEIU wrote and sponsored the initiative (anyone can write a ballot measure in Oregon). They have a ridiculous retirement deal with PERS, which guarantees an extremely unrealistic return on investments... which they don't pay, their employer (me) pays. At present, it's like 22 billion in the hole, and getting worse. Eventually, it's going to go bankrupt. So they need the 3 billion per year to continue their war on the People of Oregon.

But a gross sales tax is awesome -- if a company (only applies to C-Corps, wonder how many of them will convert to S-Corps before it even goes into effect?) works at a 2.5% profit margin, then they are limited to $625,000 in revenue... yeah, that'll keep the lights on. Less than 2.5% margin... too bad, you're now in the hole.

And alarmingly, the polls seem to have it about dead-even. We're about to make Mississippi look like a hotbed of economic activity soon.

The way the Ducks are playing I'm sure Phil Knight must be thinking of adopting Ol Miss.....

I think we are within a decade or so of seeing states default on pension obligations and go to bankruptcy court. Could be sooner. I wish we'd just get it over with now. It will be kind of interesting to see how it plays out. The left coast and the U&R, which have been the rich parts of the country with highly developed economies are going to become detoilet. Flyover land will become the rich part of the country.