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Corporate
Welfare: And it's not just in Oregon!
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Two-thirds of Oregon corporations -- pay the minimum. Corporate taxes make up about 5 percent of the state's general fund compared with 82 percent from personal income taxes.
Tax burden for companies in Oregon and Washington, each
of which has a piece of greater Portland, is lower than in most
other states, according to the Tax
Foundation. Ranking states for "best business tax
climate,"
the Foundation places Oregon 9th and Washington 12th.
Similarly, accounting experts at Ernst
& Young, who calculate "total effective tax rate" by
taking into account property, receipt and sales and income taxes, cite
Oregon's as second-lowest in the U.S., at 3.8%; Washington's is 5.8%.
Delaware's total effective tax rate is the nation's lowest, at 3.5%, and
Alaska's the highest, at 11.6%.
Greater Portland companies have another tax advantage on either side of
the Columbia. Oregon has no sales tax, which can be a boon for companies
making big equipment purchases. And Washington has no state income tax,
a selling point for prospective employees.
More tax facts:
-
Oregon's corporate income tax rate of 6.6% is 16th-lowest in the nation. California's rate of 8.8% ranks it seventh-highest.
"The
US is actually a
corporate tax haven, with the lowest
effective corporate tax rates of nearly all the countries that
participate in the OECD. That's a little fact that the Tax Foundation
apparently doesn't want the American public to understand, since all its
hype is in terms of statutory rates and not in terms of effective tax
rates." In 2003, the range of industry tax rates was even
greater, ranging from a low of -30.0 percent (a negative rate) up to a
high of 27.9 percent.
Effective tax rates varied widely by industry. Over the 2001-2003
period, industry effective tax rates for the 275 corporations ranged
from a low of 1.6 percent to a high of 27.7 percent.
http://reclaimdemocracy.org/corporate_welfare/real_tax_rates_plummet.php
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Contributed by Mark Schwebke, President of AFT-OREGON
The
American
Federation of Teachers:
www.aft-oregon.org/
AFT ACTION LINK!
www.aflcio.org -
America's Union Movement
Portland
Community College Faculty Federation
Join
P C C F F !
KBOO 90.7 FM
LABOR RADIO
http://oregonaflcio.blogspot.com/
www.uoregon.edu/~lerc
Univ. of Oregon Labor Education & Research Center
AFSCME Councils and Locals - West
Portland Jobs With Justice
updates and information AFL-CIO
convention:
http://www.unionvoice.org/ct/b11dNdY14qbS/aflcio.
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