SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?


To: Kenneth E. Phillipps who wrote (97144)12/18/2010 2:38:11 PM
From: Carolyn2 Recommendations  Respond to of 224759
 
We remember. Doesn't mean we agree with it. Besides, if one is in favor of an estate tax, donate to the federal government - anytime one wants.



To: Kenneth E. Phillipps who wrote (97144)12/18/2010 3:54:13 PM
From: TideGlider1 Recommendation  Respond to of 224759
 
Roosevelt was a progressive who stole land unconstitutionally for park service. Good intentions but very poor execution.



To: Kenneth E. Phillipps who wrote (97144)12/21/2010 1:17:58 PM
From: JakeStraw3 Recommendations  Read Replies (2) | Respond to of 224759
 
Ducking Higher Taxes

Oregon's vanishing millionaires. .
online.wsj.com

Oregon raised its income tax on the richest 2% of its residents last year to fix its budget hole, but now the state treasury admits it collected nearly one-third less revenue than the bean counters projected. The sun also rose in the east, and the Cubs didn't win the World Series.

Congratulations. 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."

All of this is an instant replay of what happened in Maryland in 2008 when the legislature in Annapolis instituted a millionaire tax. There roughly one-third of the state's millionaire households vanished from the tax rolls after rates went up.

If Salem officials want to find where the millionaires went, they might start the search in Texas, the state that leads the nation in job creation—and has a top income and capital gains tax rate 11 percentage points lower than Oregon's.