Chuck Sheketoff: How do we increase funding for education and other vital state-funded services?
How do we increase the pie? There are a number of things we can do. The first thing, besides enhancing the Rainy Day Fund, is to put the income back into the corporate income tax. Corporate income tax is not providing nearly enough money. I think most Oregonians are now aware that two-thirds of our corporations now pay a corporate minimum tax of $10 a year that was set in 1931. … The plan proposed by the governor and the House and Senate Democrats would only bring in $85 million. That’s not enough. We need to bring back significantly more so they’re paying … equitably like they used to. Study after study by the business community shows that business taxes in Oregon are among the lowest in the nation, if not the lowest. I think the best example is Intel Corp. Intel used to boast about its taxes, allow the state to disclose that they were the largest corporate tax payer, showing that they paid 1 of every 5 corporate tax dollars — $50 million per year, $100 million per biennium. From all
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