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Oregon Set to Vote on Ballot Initiative of $750. A Year for Everyone with 3% Tax on Corporations

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Here is a ballot initiative that portends Oregon’s final throes into becoming the socialist utopia so many have hoped for. Take from the rich and give to the poor and why stop at $750.00 a year? Why not per month or per week? After all, the job creators should be punished. And why not. Outside the state groups are salivating and donating in support of this initiative. Here we go:

Oregon voters will likely decide in November whether to establish a historic universal basic income program that would give every state resident roughly $750 annually from increased corporate taxes.

Proponents of the concept say they likely have enough signatures to place it on the ballot this fall, and opponents are taking them seriously.

The proposal, Initiative Petition 17, would establish a 3% tax on corporations’ sales in Oregon above $25 million and distribute that money equally among Oregonians of all ages. As of Friday, its backers had turned in more than 135,000 signatures, which is higher than the 117,173 required to land on the ballot. The validity of those signatures must still be certified by the Secretary of State’s Office.

“Yes, the funders are from California, but these are not like nefarious outside interests here,” Martinez said. “These are people who are committed to basic income.”

Oregon business groups are preparing to fight the measure. State business lobby Oregon Business and Industry and tax policy research nonprofit Tax Foundation say raising corporate taxes would harm companies and lead to higher costs of goods and services.

“(The proposed measure) would impose a massive tax increase in Oregon,” Oregon Business and Industry said in a statement. 

“It’s looking really good. It’s really exciting,” said Anna Martinez, a Portland hairstylist who helped form the group behind the campaign, Oregon People’s Rebate, in 2020. If approved by voters, the program would go into effect in January 2025.

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Source: https://bunkerville.wordpress.com/2024/06/19/oregon-set-to-vote-on-ballot-initiative-of-750-a-year-for-everyone-with-3-tax-on-corporations/


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