We're pretty much ready for the hoards of child who will soon descend on our house. Frances and Katherine got their costumes back in the summer. They've been ready for months.
The Yes on 66 and 67 message on Liz's pumpkin refers to two ballot measures Oregonians will consider this January.
The Oregon Center for Public Policy reports:
The Yes on 66 and 67 campaign has been endorsed by Ecumenical Ministries of Oregon and many others.
A Step Toward Balance
Measures 66 and 67 move Oregon closer to a tax system based on ability to pay
Today, low-income Oregonians pay a larger share of their income in state and local taxes than wealthy Oregonians. In fact, the highest-income Oregonians pay the lowest share of their income in state and local taxes. In addition to raising needed revenue, Measures 66 and 67 begin to address this imbalance.
Facing a revenue crisis brought on by the recession, the 2009 Legislative Assembly enacted two measures that will raise $733 million in new revenue in the 2009-11 biennium. The modest tax increases on corporations and wealthy Oregonians helped avoid deeper cuts in education, health and human services and public safety than those already made to address a projected $4 billion shortfall in General Fund revenues.
One well-established principle for judging a tax system is whether revenues are raised based on the ability of taxpayers to pay the taxes. Oregon’s tax system — all state and local taxes combined — currently fails that test, but the two revenue measures enacted by the 2009 legislature take Oregon one step closer to having a tax system based on ability to pay.
Measures 66 and 67 are a step toward a balanced tax system
After accounting for the deduction of state income taxes on federal tax returns, the lowest-income Oregonians currently pay 8.7 percent of their income in taxes, the highest share among all income groups. Middle-income Oregonians pay 7.9 percent. The wealthiest 1 percent — households with income in excess of $410,000 and averaging over $1 million — pay only 6.1 percent of their income toward state and local taxes.
By 2013, both revenue measures will be fully implemented. Several changes aimed at ameliorating the fiscal crisis brought on by the recession — to avoid additional cuts in public services — are only temporary, and these will have expired.
When Measures 66 and 67 are fully implemented, Oregon will have made some progress toward a tax system based on ability to pay. The lowest-income Oregonians will still pay the same 8.7 percent of their income in state and local taxes, but the share will increase for those at the highest levels of the income scale. For the wealthiest 1 percent, for example, state and local taxes will increase from 6.1 to 6.6 percent of their income. For the next highest 4 percent of taxpayers, taxes will increase from 7.0 to 7.1 percent of income. These slight changes for those at the top 5 percent of the income scale constitute a small but important step toward making our tax system better based on ability to pay.
Click here to learn more about the campaign.