REASONS TO VOTE NO To Increased Taxes in Oregon

1. $856 MILLION IN PERSONAL INCOME TAXES IN ONLY THREE YEARS IS EXCESSIVE.
   
   
2. THIS IS NOT JUST AN INCOME TAX INCREASE…IT IS AN INCREASE IN SEVEN DIFFERENT TAXES. Individuals, senior citizens, property owners, small businesses, and corporations will all be forced to shell out more money.
   
   
3. SENIOR CITIZENS WILL HAVE TO PAY OVER $86 MILLION IN ADDITION TO ANY INCOME TAX INCREASES. The new plan reduces for some, and eliminates for others, the medical expenses that can be deducted from state taxes. Oregonians who have given so much throughout their lives are being punished and forced to pay higher taxes in addition to outrageous medical expenses.
   
   
4. THE GOVERNMENT HAS THE ABILITY TO BALANCE THE BUDGET WITH CURRENT RESOURCES. By eliminating the 5,000 vacant positions in state government, using $322 million in un-obligated reserves, and recognizing the $300 million in K-12 PERS savings, Oregon's budget shortfall would be eliminated.
   
   
5. PROPERTY TAXES WILL INCREASE BY $43 IN THIS BIENNIUM ALONE. As a result of reducing the discount for making an early payment, Oregonians will pay approximately $40 million more per year in property taxes. Reducing this discount is a scheme to simply increase property taxes without visibly raising your rates.
   
   
6. BUSINESSES ARE ALREADY LEAVING; HIGHER TAXES ARE ONLY GREATER INCENTIVE FOR THEM TO GO. Oregon needs more jobs, not more taxes. With one of the highest unemployment rates in the nation, Oregon cannot afford to give more companies and jobs reasons to leave our state. Louisiana Pacific, Gardenburger, Smuckers and others have already opted out of business in Oregon. Companies of all sizes will be forced to pay more money and many will simply close their doors and move operations elsewhere.
   
   
7. THESE TAX INCREASES ARE NOT ALL TEMPORARY. The tax package was sold as a “temporary” increase fix to Oregon's budget crisis. However, several components of the tax package, including the senior medical deduction, property tax discount reduction, corporate foreign income, sport utility vehicle (SUV) depreciation, and the corporate minimum tax are permanent tax increases.
   
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