One of the co founders of an important Oregon company abruptly left the state to establish residency in another state after the passage of these stupid taxes. The left denies it, but Oregon’s Vanishing Millionaires (here) are, uh, vanishing long enough to establish residency somewhere else or spend time at their second homes and ‘disappear’ from most tax rolls.
One reason revenues are so low is that about one-quarter of the rich tax filers seem to have gone missing. The state expected 38,000 Oregonians to pay the higher tax, but only 28,000 did. Funny how that always happens. These numbers are in line with a Cascade Policy Institute study, based on interstate migration patterns, predicting that the tax surcharge would lead to 80,000 fewer wealthy tax filers in Oregon over the next decade.
The person I ‘overheard’ also admitted losing many ‘big’ clients to M 66 & 67. They aren’t public sector union jobs so I guess no one in government really cares about them.There is one former public employee whom I’ve noticed has gone to live elsewhere while spending enough time in her Portland home to appear to still be here.
Those Washington license plates are interesting.
Those Washington license plates are interesting.
Oh, and, for the record: Vanishing millionaires don’t send out press releases.
Tell ’em where you saw it. Http://www.victoriataft.com
