Been seeing a lot of anti-118 ads lately, specifically talking about the harms to “small business” so I had to look it up myself:
FTA above:
"Measure 118 would slap a 3% tax on a business’s Oregon sales above $25 million, then divvy up the money raised among Oregon’s more than 4 million residents, no matter their age.
An analysis by state revenue officials suggests the policy would reap more than $6.5 billion a year, even though it raises taxes on fewer than 2% of businesses. The measure could then send around $1,600 a year to every Oregonian beginning in 2026 — either via tax credits or direct payments."
So, first, if your business generates more than $25 million in sales ($68,493.15 every day!) - you are NOT a “small business”.
2nd, we definitely need reform on business taxes to make sure businesses are paying their fair share.
3rd, I’m not so sure $1,600 direct payments to Oregonians is the best use of those tax dollars. It should be used to reduce our overall tax burden. Maybe increase the standard deduction by $1,600 or some such.
Bad metric. What percentage of sales by dollar amount does it impact? That will provide a much more accurate indication of the real consumer cost impact. If those 2% of businesses by count do 50% of sales volume by $ in the state, that’s a problem (in multiple ways tbh)
That just makes me feel like it would help promote small businesses and shopping local. So not a bad thing either.