Chris Dudley wants to lower capital gains taxes in Oregon. John Kitzhaber says Dudley's plan would blow a big hole in the state budget and wouldn't create jobs.
Read the full article here. Discuss below.
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Posted on Sept. 23, 2010
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10:18 p.m.
Sep 23, '10
Given that we start with a $2.5B deficit and Dudley wants to put aside 3% of roughly $15B or about $0.5B for a rainy day fund and another $0.4B in Capital Gains, plus some other tax breaks you end up with cuts of $3.5B+. Even if you accept the concept that tax cuts leads to investments, which I do not, the hole in the short term is overwhelming. I hope the press starts pushing him on where he will cut spending enough to make up for the tax cuts.
And I hope the voters see the lack of reality in Dudley's promises.