Oregon Tax News

By Oregon Tax News,

Due to the ongoing economic crisis, Oregon’s Indian gaming industry suffered a 1.2 percent decline in revenue last year, placing the state No. 24 among the 31 Indian gaming states. According to economist Alan Meister and his recently released annual Indian Gaming Industry Report, no new tribes entered the gaming business and existing players did not open any new facilities in Oregon during the year.

Nationally, the gaming industry, once thought to be recession-proof, has been hit hard, according to the News-Register.  Many casinos reported declining visitor traffic and spending per visit, resulting in declining revenue.  There has also been a delay or downsizing of casino development projects and employee layoffs and furloughs.
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Oregon TaxNews,

Americans for Tax Reform did a calculation of what each state’s top income tax rate would be ifthe Bush 2001 tax cuts expire. The results are ranked from best to worst with nine states being tied ofr the first spot as these states have no income tax. Oregon was noted for being the highest income tax state (including the District of Columbia). The method does not compare other taxes such as sales taxes where Oregon has none and Washington is among the highest. The chart is useful for those businesses and individuals consider moving into or out of a state.

See full chart here: http://www.atr.org/userfiles/Word%20final.pdf

By Oregon Tax News,

On December 8th, U.S. Senator Tom Coburn and Senator John McCain released their Stimulus Checkup Report.  The report lists 100 projects as part of the $700 billion stimulus program targeted as waste.  Four Oregon projects made the list are listed below;

Recovering Crab Pots Lost At Sea ($700,000)
A $700,000 grant will pay for 48 people to help Oregon crabbers recover crab pots they have lost at sea.  The two-year project expects to yield 2,000 lost pots a year. Oregon crabbers reportedly lose an estimated 15,000 crab pots a year. The effort will use 10 boats, planes, and a telephone hotline for people to phone in crab pot sightings.  If all 4,000 pots are recovered as expected, the grantees will spend an average of $175 per crab pot, though John‘s Sporting Goods in nearby Everett, Washington sells new crab pots online for as little as $19.95.  At that price, crabbers could purchase nearly ten times as many crab pots as this program is expected to reclaim.
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By Oregon Tax News,

Holiday shoppers will get an early start this year whether they are ready or not.  Retail giants have embarked on an advertising spending spree in an attempt to lure bargain shoppers to their stores earlier this year, signaling the economy may be on the rebound.

Target, Wal-Mart, Kmart, and Gap all plan to boost advertising spending over last year’s level in an attempt to get this seasons holiday shopping started early.  According to John Swallen, the senior vice president of research at TNS Media Intelligence, “We are seeing increases across a large number of retail advertisers. Clearly they are trying to jump-start their sales efforts.”
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Taxpayers foot the bill for environmental lawsuits

The federal government spends about the same amount of money funding environmental lawyers as it does to protect endangered species according to an investigation conducted by a Wyoming lawyer who defends farmers and ranchers involved in environmental lawsuits.

According to the Capital Press, Karen Budd-Falen was curious how much money the federal government paid the lawyers who initiated cases against her clients and uncovered more than $4.7 billion in taxpayer money that the government paid to environmental law firms between 2003 and 2007.  That represents an average of $940 million a year, compared to $922 million spent directly on the 986 endangered and threatened species, according to the U.S. Fish and Wildlife Service’s annual report. (more…)

 Oregonians Face Scores of New Taxes
By Oregon Tax News

– Often overlooked, smaller tax increases will be facing thousands of Oregon homeowners, in addition to possible new taxes in Multnomah County, Hood River and Ashland. 

Recent local proposals include an extension of the Ashland meals tax, along with increased driver registration fees and higher property taxes in Multnomah County.   Some local cities, like Hood River, will be wrestling with a local gas tax increase. These smaller taxes have lost attention in light of the much larger $733 million Oregon tax referendum measures approaching the January ballot. (more…)

Oregon Faces Paycheck Decline
By Oregon Tax News

Oregon is near bottom in wage growth and it could get worse. According the United States Census Bureau, Oregon is currently ranked eighth in lowest pay check growth across the country.

The rise of unemployment in Oregon gives employers the opportunity to take advantage of the abundance of labor and lower wages.  Goldman Sachs’s chief United States economist, Jan Hatzius, predicts that average hourly earnings will fall about half a percent from the fourth quarter of 2009 through the fourth quarter of 2010.  Hatzius says his prediction accounts for workers’ strong aversion to wage cuts.  Without that adjustment, the projection would be negative two percent.
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By Oregon Tax News,

States across the nation are cutting taxes to boost stagnant economies.  Texas, Arizona, and Maine are all taking steps to lower taxes.  A recent study by former U.S. Treasury economist Robert Carroll shows that states with lower corporate tax rates have higher wage gains and more productivity over time. (more…)

Business bankruptcies climb, Oregon third on undesirable list
By Oregon Tax News

In statistics compiled by AACER (Automated Access to Court Electronic Records) Oregon ranked third in the nation in percentage increase for business bankruptcies between the first and second quarters of 2008.
 
Oregon had 214 business bankruptcies in the first quarter growing to 375 in the second quarter, a 75 percent increase.  Delaware and Montana topped the list in percentage increase at 103 percent and 97 percent respectively.

Nationwide commercial filings for the first half of 2008 are up 45 percent as compared to the previous year.  In the first quarter of 2006 there were 5,811 filings and by the second quarter of 2008, filings were up to 15,471.  (more…)

Use The Health Care You Need, We Can Make More
John in Oregon

When we have a limited budget for medical care, who gets that care? For Statists only so much medical care exists in the world. Your gain is my loss.  Older people spend a lot more on doctors than younger people. Should the elderly be prevented from spending their money on staying healthy?

If you spend your money on health care, does that subtract from the medical care of a younger person?  President Obama’s statements and the Democrat health care plan are based on the belief that it does. (more…)