Proposed Ballot Measure to Raise Corporate Taxes, Give Every Oregonian $750 a Year Likely to Make November Ballot
20th June 2024
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.
State business advocacy groups are preparing to launch a campaign against the proposed measure, arguing that it would harm Oregon’s business landscape and economy.
Just to repeat what everyone ought to know: Businesses don’t pay taxes. They merely collect taxes. Taxes are, to a business, just another expense, and are folded into the price that the business charges its customers. It is the customers who pay the taxes. The only effect it has on the business is to make it less competitive with businesses from outside the jurisdiction that is taxing them, be it a city, county, state, or country.