So says the state's Legislative Revenue Office. The state office released a report this week concluding that the taxes on corporations and 1.7 percent of Oregon's wealthiest citizens the legislature passed last session will actually... (drumroll please) .... help Oregon recover from the recession.
According to the state financial experts, the new taxes will fund services like education and healthcare and thereby increase net income of households making less than $189,000. Plus, 85 percent of new corporate taxes will fall mostly on multi-state corporations. Despite the raised corporate minimum tax, Oregon will still be in the lowest five states in the country for business taxes as a percentage of gross state product.
This info directly contradicts the assertions of the anti-tax fighters, Stop Job Killing Taxes, who put out this ad with Obama speaking against new taxes in a recession.
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