Friday, September 01, 2006

Oregon's economy growing?


With contributions from the housing market, Oregon's economy has continued to grow in the last quarter, which state economists said tax revenues are coming in at $1.28 billion above projections and thus will offer of the largest personal "kicker" in the state's history.

However, they are warned that a correction could result from a cooling in the housing market, and signs that job growth is starting to level off.
"Economists are projecting that the state will have almost $13.8 billion in general fund dollars to spend in the 2007-2009 biennium, up from the $12.4 billion spent in the current two-year budget cycle on state obligations, including schools, social services and public safety.
The new quarterly forecast calls for a personal income tax "kicker" rebate of $1.043 billion to return to the state's taxpayers -- an average of $567 for a household making between $40,000 and $70,000 per year.
Put another way, for every $1,000 households pay in taxes, they could get back $206, or 20.6 percent, breaking the previous record of a 16.6 percent tax rebate in 1987.
"Kicker" refunds are sent to Oregon taxpayers whenever state tax revenues exceed official forecasts by more than 2 percent.
Corporations, too, stand to benefit from the state's continued growth, and would be entitled to a 61.3 percent reduction in their 2007 tax bills -- or $238 million that the state would never collect. The "

Earlier this summer, Governor Ted Kulongoski introduced the idea of suspending the personal income tax kicker, allowing the state to keep the money and invest in areas that were cut back during the 2001-2003 recession, when Oregon had the highest unemployment rate in the country and tax collections plummeted.
and for those who don't remember... we were #2 in the nation for unemployment. Salem offered to help by suggesting that they raise taxes to compensate for the lower income tax revenues. This coincided with the February 14, 2004 cut off date when Congress eliminated the extensions on unemployment because of the war.
In a speech on Thursday, Kulongoski made no mention of the personal kicker, instead, he repeated his call for an end to the corporate kicker, stating that the money would be better used in a rainy day fund.

In related news... the Kulongoski campaign is prepared to take its message to the voters that Governor Kulongoski has helped put Oregon's economy back on track and balance the state budget despite a $3 billion deficit brought on by the recession, explains Jim Ross, Kulongoski's campaign manager.Registerguard August 25, 2006
I'm glad somebody somewhere is seeing an improvement in the economy... all that I see, is 3+ dollars a gallon for gas and taxes going up. In fact, I realize the other day that nobody waters their lawn anymore, at least in Springfield. with the fees associated with water use, it has just become too expensive.


Anonymous Anonymous said...

where do you see taxes going up?

The Springfield school bond is revenue neutral, meaning your taxes will not increase one penny. The county income tax will fail, and Don McIntire and Russ Walker are conspiring to strangle the state.

Taxes are so freakin' low they ought to call this state Grand Cayman Island.

Can you imagine what that extra billion would do for schools, health care, higher ed, police, roads, and the like. The kicker is a ridiculous idea. After years of cuts we could actually reverse some of the damage, but want your $206 (which you already paid)

2:19 AM  
Anonymous Laura said...

The idea that the economy is getting better comes from, you guessed it, statistics. We all know that stats do not give a true picture, kind of like our politicians, which is why they rely on them so heavily. I long for that loud pop a head makes once it is removed from its hole. (hint to the powers that be)

9:34 AM  
Blogger Scottiebill said...

Anon: The kicker is already law that must be adhered to. Teddy the K and his minions, read Obedient Syncophants, haven't really caught onto.

And, if Teddy really did get to keep the kicker money, you can bet it would not get used toward public safety, the police or fire departments, or een schools, but would rather get used in the unnecessary crap that Oregon politicians are noted for, such as the Disneyland tram, or light rail to somewhere no one wants to go, or another feel-good project that someone like Randy Leonard wants to endorse that will cost a bunch of money.

5:17 PM  
Blogger ninest123 Ninest said...

ninest123 09.21
ray ban sunglasses, polo ralph lauren outlet, michael kors outlet, uggs on sale, oakley sunglasses, polo ralph lauren outlet, michael kors, louboutin, tiffany and co, ray ban sunglasses, jordan shoes, ugg boots, prada outlet, replica watches, tiffany jewelry, longchamp outlet, ugg boots, michael kors outlet, oakley sunglasses, burberry, nike air max, louis vuitton, ugg boots, louis vuitton, cheap oakley sunglasses, ugg boots, nike outlet, michael kors outlet, gucci outlet, ray ban sunglasses, louboutin outlet, tory burch outlet, burberry outlet online, nike free, michael kors outlet, replica watches, oakley sunglasses, louis vuitton, louis vuitton outlet, nike air max, louboutin shoes, longchamp outlet, christian louboutin outlet, louis vuitton outlet, longchamp, prada handbags, oakley sunglasses, michael kors outlet

11:02 PM  
Blogger ninest123 Ninest said...

oakley pas cher, michael kors, ray ban uk, hollister, vanessa bruno, nike roshe run, michael kors, true religion jeans, north face, air jordan pas cher, true religion outlet, michael kors, hermes, longchamp pas cher, tn pas cher, kate spade handbags, louboutin pas cher, nike air max, burberry, coach outlet, air max, michael kors, vans pas cher, coach outlet, mulberry, ray ban pas cher, converse pas cher, new balance pas cher, coach factory outlet, sac longchamp, true religion jeans, nike free, sac guess, lacoste pas cher, chanel handbags, hogan, timberland, kate spade outlet, nike air max, ralph lauren uk, nike blazer, ralph lauren pas cher, lululemon, coach purses, hollister pas cher, north face, true religion jeans, air force

11:04 PM  
Blogger ninest123 Ninest said...

hollister, beats by dre, valentino shoes, birkin bag, vans shoes, nike air max, mcm handbags, wedding dresses, soccer jerseys, mac cosmetics, hollister, celine handbags, nike trainers, giuseppe zanotti, jimmy choo shoes, ghd, nike air max, north face outlet, ferragamo shoes, abercrombie and fitch, baseball bats, iphone 6 cases, mont blanc, soccer shoes, longchamp, louboutin, reebok shoes, nfl jerseys, oakley, p90x workout, nike roshe, babyliss, insanity workout, new balance, bottega veneta, chi flat iron, nike roshe, timberland boots, north face outlet, hollister, nike huarache, lululemon, nike free run uk, abercrombie and fitch, asics running shoes, herve leger, ralph lauren, instyler

11:09 PM  
Blogger ninest123 Ninest said...

coach outlet, pandora charms, pandora charms, doudoune canada goose, swarovski crystal, montre pas cher, moncler, links of london, supra shoes, bottes ugg, louis vuitton, lancel, swarovski, moncler outlet, ugg,uggs,uggs canada, vans, moncler, gucci, hollister, ugg boots uk, pandora jewelry, juicy couture outlet, ray ban, thomas sabo, marc jacobs, juicy couture outlet, karen millen, toms shoes, ugg,ugg australia,ugg italia, doke gabbana outlet, louis vuitton, canada goose, pandora jewelry, canada goose outlet, canada goose, canada goose uk, converse outlet, ugg pas cher, nike air max, canada goose outlet, sac louis vuitton pas cher, wedding dresses, moncler, replica watches, louis vuitton, converse, barbour jackets, louis vuitton
ninest123 09.21

11:16 PM  
Blogger Minko Chen said...

ralph lauren,polo ralph lauren,ralph lauren outlet,ralph lauren italia,ralph lauren sito ufficiale
oakley sunglasses
rolex uk
ugg boots
swarovski outlet
juicy couture tracksuit
chanel outlet store
michael kors outlet
cheap nike shoes
ray ban outlet
uggs outlet
polo ralph lauren
coach outlet store
ferragamo shoes
north face jackets
air max 90
asics,asics israel,asics shoes,asics running shoes,asics israel,asics gel,asics running,asics gel nimbus,asics gel kayano
ghd uk
ferragamo outlet
michael kors outlet online

12:16 AM  

Post a Comment

Links to this post:

Create a Link

<< Home