No Tax Breaks for Golden Parachutes
Tell Chairwoman Burdick to oppose giving another tax break to well-off CEOs.
I can't believe it.
The Oregon House of Representatives just passed a bill that would make "golden parachute" severance packages tax-free up to $500,000 if the applicant agrees to put that money into an Oregon business. This would allow well-healed CEOs to get a tax break of up to $54,000!
However, few working families will be able to save even one penny on their taxes. A recent survey found that 68% of workers did not receive any severance package when laid off.
Right now this special tax break is being quickly pushed through the Oregon Senate Revenue Committee. Proponents of the bill argue that this legislation will help generate jobs by encouraging business growth. It is a well-intentioned idea, but no different from the failed, trickle-down policies of the Bush administration.
Tell Senate Revenue Chair Burdick and her fellow Senators to oppose the "Tax Break for Golden Parachutes Act" today!
http://www.taxfairnessoregon.org/NoGoldenParachutes
While being promoted as a "jobs bill" this new tax break does not require the recipient to create even one job! Oregon has far more effective tools to get unemployed Oregonians working again than another costly tax break for the rich.2
We applaud our legislators for trying to bring back jobs to Oregon, but we should not create more harm than good by repeating the mistakes of the past.
Sincerely,
Noah Heller
Tax Fairness Oregon
Sources:
1. "Half of Workers Who Were Laid Off in the Last Three Months Have Found New Jobs, Reveals Latest CareerBuilder Survey," CareerBuilder, August 5, 2009
2. The Building Opportunities for Oregon Small Business Today Fund (BOOST Fund) gives grants of $2,500 to employers per new full-time job established and offers loans of up to $150,000 for businesses.
Most of us think our situation 10, 20 or 50 years from now will not be as good as today, in one or more ways--less oil, reduced wealth in general, and the possibility of many other negative changes as well--loss of electricity; rapid population decline; and perhaps climate change.
My question is, "How can we keep ourselves from feeling discouraged, even though we strongly suspect our future situation will not be as good as today?" Below the fold, I give a few ideas.