Oregon's $10 Corporate Minimum Utterly Outdated

I've known about the $10 Corporate Minimum tax here in Oregon for about 10 years now. However, after doing some research online, it seems as though most Oregonians aren't aware of this little fact. These folks may also be unaware that steps taken earlier in the year to increase this failed. If we speak out and demand Oregon Corporations pay their fair share, we can get this pitiful law changed. There are some Legislatures in Salem who listen to the voters.

Here are some facts (with my own emphasis and comments) sure to enlighten, and likely, enrage: (as taken from this site. Click to read the article in its entirety.)

1. Oregon has the country's lowest minimum tax: $10.00.

2. In 2006 in Oregon, individuals pay 90% of the tab for education, public safety and health care - $10.6 billion.

3. While individuals paid $10.6 billion in taxes, corporations paid $705 million.

4. 13 companies with more than $5 million in Oregon profits paid the $10 minimum tax in 2004.

5. Three corporations with more than $25 million in profits paid the $10 minimum tax in 2004.

6. In Washington, which has a stronger economy and high-tech sector, businesses have a much greater tax burden – they pay about half the cost for education, public safety and health care.

(Hmmm. Half the cost as compared to 10%. AND they have a stronger economy.)

Under the corporate tax fairness package, the corporate minimum tax would be increased to $25 – a whopping $15 for companies with up to $50,000 in Oregon sales. Above that, there would be a sliding scale, with $1,000 for a corporation with more than $500,000 Oregon sales and capping out at $50,000 for companies with $25 million in Oregon sales. (And Oregon businesses are balking at this "massive" increase. A $50,000 tax liability for a biz with $25 million in sales is .002%.)

The plan would generate an additional $150 million for schools, public safety and health care, which make up more than 90 percent of the state general fund.

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What do Oregonians think about this?