Here’s a dollar amount to keep in mind if you’re heading to Salem on Friday for the Rally for A Better Way for Oregon: $1.9 billion.
That’s how much more revenue our state would have for the next budget period (2011-13) if corporations paid the same share of income taxes they used to pay.
In the 1973-75 budget cycle, corporations paid 18.5 percent of Oregon income taxes. But in 2011-13, the share paid by corporations is expected to be only 6.6 percent.
If in the upcoming budget period corporations once again contributed 18.5 percent of Oregon income taxes, that would raise an additional $1.9 billion in revenue — more than half of the projected revenue shortfall.
With the revenue shortfall threatening schools, our public safety system and vital health and human services, lawmakers need to act in the interest of our state. They need to take measures to protect middle class and vulnerable Oregonians. And that requires asking corporations (and the rich) to pay up.
Be sure to let lawmakers know on Friday.
(See Tax Facts That Matter for more message fodder.)