Image provided by: University of Oregon Libraries; Eugene, OR
About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (Feb. 23, 1983)
‘Win-win’ tax option emphasizes plan to ‘slurp up the trickle down’ State Revenue Proposals Part 1 By Michele Matassa Of tha Emerald This is first in a three-part series examining revenue options available to the Oregon Legislature. Faced with a $3.3 million budget proposal and estimated revenue of less than $2.8 million, state legislators are exploring every path in a maze of revenue options. Unfortunately, the lawmakers aren't exactly racing to support any of the options. The House Revenue and School Finance Committee already has shelved Gov. Vic Atiyeh’s net receipts tax plan. But three options still sit on the sidelines awaiting decision. The Hendriksen/Hosticka Tax Plan would raise $497 million by readjusting income tax brackets and continuing temporary revenue measures enacted during last year’s special session. Margie Hendriksen, D-Eugene, claims the plan will decrease state taxes for 65 percent of all Oregonians by extending income tax rates over a range of 3 percent to 15 percent instead of the present 4 percent to 10 percent. This extension will make the system more progres sive, reducing rates for low-income taxpayers and increasing them only for those in higher income brack ets, say Hendricksen and Rep. Carl Hosticka, D Eugene, cosponsors of the plan. When the income level reaches roughly $22,000 to $24,000, the plan stops benefiting and starts costing the taxpayer, the cosponsors say. Hendriksen says the income brackets haven't been reformed for 20 years, so a $10,000 income is still in the ✓"N • 1 ■ ■ • top tax-rate bracket. That income may have been considered high in 1963, but now it could be considered poverty level depending on the household size, she says. Hendriksen and Hosticka say the plan focuses on slurping up the trickle down" because it recaptures one third of the federal tax cuts Oregonians received Legislation Pres Ronald Reagan sponsored granted Oregonians $1.5 million in tax cuts over the 1983-85 biennium, Hendriksen says. New office figures show the tax plan will raise $315 million in tax revenue over the biennium. The tax increase combines with the continuation of three temporary tax measures enacted during one of last year's special sessions to raise a total of $497 million The extra $182 million would be raised by continu ing: • A 10 cent per pack cigarette tax ($56 million). • Disconnection from the federal depreciation schedule. The schedule results in tax deductions for capital investment by providing for rapid depreciation of equipment ($86 million). • Personal exemption indexing, which adjusts exemptions upward for inflation ($40 million). Hendriksen and Hosticka call their plan a "win win” situation because 65 percent of Oregon taxpayers will pay less, and the state would raise $497 million. Ross Anthony, University economics professor, questions the stability of the Hendricksen/Hosticka program. "Oregon tax receipts have fluctuated drastically with the business cycie, with recession or good times” because it relies on unstable income, says Anthony. The Hendriksen/Hosticka plan is a poor one because it continues reliance on those tremendously fluctuating tax receipts, he says. Anthony also says the plan will increase Oregon's income tax significantly. And the state already has the second highest income tax revenue per capita in the United States, he says. “I would assume with the Hendriksen plan. . . it would move into the number one position. That shows that we have a total reliance on one form of tax." Tomorrow: state sales tax proposals. council seeKs liaison oetween high tech, higher ed m mgn-tecn corriaor irom Portland to Eugene won’t spring up overnight, but with the help of CASEERI it will happen eventually — or at least the State Board of Higher Education hopes so CASEERI — officially the Council for Advanced Science and Engineering Educa tion/Research for Industry — INTERNATIONAL CAREER? A representative will be on the campus TUESDAY MARCH 1, 1983 to discuss qualifications for advanced study at AMERICAN GRADUATE SCHOOL and job opportunities in the field of INTERNATIONAL MANAGEMENT interviews may be scheduled at CAREER PLANNING & PLACEMENT SERVICE AMERICAN GRADUATE SCHOOL OF INTERNATIONAL MANAGEMENT Thunderfoird Campus Glendale, Arizona 85306 Nae^it quality resume? Caff',Annie at 686-4381 at $£ ttytr ODE. was esiaDiisnea in ran 1982 to assist communication between economic development and higher education. CASEERI is designed to coordinate business and in dustry research needs, identify how to structure education with research in programs essential to industry and advise the state board on these needs, says I Fred Burgess, CASEERI member and dean of the Oregon State University engin eering school. The council is working on recruiting a director, who also would act as a special assistant to the chancellor of higher education. Burgess says the director would serve as a lob 1 When you walk into the Bookstore, LA you’re walking into a store you own. As a student, faculty or classified staff member at the University, you own the Bookstore. It’s yours — so walk in. Inside you’ll see that behind everything is the committment to serve you in the best way possible. Every policy and decision is made with the membership’s interest in mind. That’s because you elected a Board of Directors — 8 students, 2 faculty and a classified staff member to represent your needs and priorities at the Bookstore. The Board is the policy making body of the Bookstore. They volunteer their time to work for the membership’s benefit. Membership loyalty leads to financial success. And remember, all net income goes back to you in the form of better prices and greater services. So shop the Bookstore It’s in your best interests. Textbooks 6M-3520 • General Books SM-3510 • Supplies 686-4331 The University of Oregon Bookstore, Inc. Serving our members - the students, faculty and classified staff at the University of Oregon since 1920. uo 13th & Kincaid Mon-Fri 7:30-5:30 Sat 10:00-3:00 BOOKSTORE byist to industry and govern ment and a liaison to economic development officials. Bob Berdahl, CASEERI member and dean of the University arts and sciences college, says the council which received between 85 an 90 ap plicants for the post, will make its decision by spring. The council, which is composed of nine representa tives from different institutions and nine industry representa tives, includes representatives from Tektronics, Weyer haeuser, Hewlett-Packard and the Association of Oregon In dustries. CASEERI members plan to recruit still more industry representatives. S' goes further than you might think Your student subscription to the Emerald costs about 3C per day. We’re working hard to bring you: • The latest and most important news about the University community. • Letters to the Editor and Editorials written to reflect campus opinions. • Up-to-date coverage of the Oregon Legislature, where decisions are made that affect everyone on campus. • National and international news. • In-depth sports and entertainment coverage. Our bi-monthly sports supplements cover both men’s and women’s events, from Pro Sports to Club Sports. Our weekly entertainment calendars and bi-monthly supplements keep you up on night life and trends. • Bloom County and Stutz cartoons to brighten your day. • Over 50 distribution points on campus so the Emerald is convenient to read. The Emerald serves the entire campus community each morning, with 96% student readership.* Your subscription is paid through Incidental Fees. ‘Independent market survey conducted by the Department of Marketing. College of Business Administration.
