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.
Even if they do, which they probably will, it still works out as a net positive progressive policy. You can view it like an added 3% sales tax for everyone, including corporations and out-of-state tourists. Everyone gets the exact same rebate on this sales tax at the end of the year - so those who spend the least, the poorest, benefit the most because they paid the least of that tax. Anyone who spends less than the state average (which should be the vast majority of regular people) should see a net benefit. And for those spending above average it’ll just be a 3% tax on everything they spend above that statewide average. Kinda just straight-up small scale wealth redistribution.