By Taxpayers Association of Oregon Foundation,
The nationwide craft store chain, Joann’s, is closing 15 Oregon stores as part of their 500 store closure.
Some of this is due to the decline of hobbying nationwide.
More seriously, it is the result of a decline in discretionary income which is a factor of inflation. This is the same pullback that is hurting Starbucks and McDonald’s.
So what is Oregon doing in light of people having less money and persistent inflation?
• In 2023, Oregon raised 185 fees which shrinks discretionary income.
• In 2024, politicians pushed dozens of local property taxes at the local ballot, costing over a billion dollars in higher taxes.
• In 2024, Oregon raised DMV fees — some by 100%.
• In 2024, Oregon raised gas taxes last year (nation’s top 10), which raises the cost of goods across the board.
• Oregon has been reducing energy sources while adding energy mandates which have caused as much as 40% hike in utility bills over four years — that makes inflation worse.
Simply put, Oregon has stolen the people’s discretionary income, and now we see it contributes to store closures.
Remember, those lost hobby jobs means lost payrolls and lost payroll taxes. As payroll taxes shrink, the politicians raises more taxes and fees to make sure they do not suffer any downside.
