If approved, Measure 118 would institute a 3% tax on most corporations’ total sales in Oregon above $25 million and distribute the money equally among residents of all ages and incomes. The system would go into effect next year.
If approved, Measure 118 would institute a 3% tax on most corporations’ total sales in Oregon above $25 million and distribute the money equally among residents of all ages and incomes. The system would go into effect next year.
The real question will be is +3% on everything you purchase greater or less than $1600. If you spend less than $53,000.00 per year it’s a benefit. We know the corporations will simply pass the 3% on to consumers (likely with additional percent or three thrown on for good measure). But if you’re spending less than 50K with those corporations it’s still beneficial.
That’s not how it works - the $1600 is an estimate for what each individual would receive. The total amount collected each year is split evenly between every resident in the state, how much ever it happens to be. So anyone spending less at the taxed companies than the average amount for Oregon will come out ahead. Worth noting that since it targets total sales in Oregon, that tax seemingly applies to corporate-to-corporate sales too, meaning the vast majority of regular people will end up below the average, with a net benefit.