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Page A4
March OS. 2003
O pinion
1 he Portland Observer
Opinion articles do not necessarily reflect or
represent the views o f The Portland Observer
N-C H i e r , P u B L is H tn
Charles H. Washington
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Association • Serving Portland and Vancouver.
End the 1929 Tax Break for Corporations
by C harles S heketoff
The first lesson in Oregon Corporate Taxes
101: Ifyou're paying them, get a new accoun
tant.
About two thirds o f Oregon ’ s corporations,
or 23,000 corporations, pay ju st the $10
corporate minimum tax.
Lawmakers establ ished the corporate mini
mum tax in 1929, setting it at $25. Later that
year, the stock market crashed and the Great
Depression began. The 1931 Legislative As
sembly showed its com passion by lowering
the tax to $ 10.
Ignored by the Legislative Assembly, it has
been frozen there ever since.
Even the most ardent anti-tax advocate
would agree that the costs o f government rose
somewhat over the last 70-plus years.
So, while government can’t pay its tax col
lectors or buy them office supplies at 1929
prices, Corporate Oregon gets to pay a mini
mum tax at those pre-Depression rates.
Ifthe Legislative Assembly had indexed the
1929 corporate minimum tax to inflation, the
m inimum tax would be over $260 today - a
bargain at twice the price.
Individuals pay incom e taxes regardless
o f their expenses and w hether they have
something left over in the bank at the end o f
the year.
Households don’t get to avoid the tax col
lector when expenses exceed income. Laid-
o ff workers, who only collected unemploy
ment insurance at a fraction o f their former
salaries, even owe Oregon income taxes.
Corporate income taxes, on the other hand,
are only paid on profits. But many profitable
companies are getting away with paying the
minimum $ 10 tax because they enjoy so many
generous tax breaks and accounting gimmicks.
We don’t know which Oregon corpora
tions are good corporate citizens paying their
share o f Oregon’s taxes, and which ones avoid
taxes through Enron-styleaccountinggimmicks
and the use o f tax breaks.
A corporate tax disclosure law would shine
the light on the good corporate citizens, as well
as those w ho’ve practiced Corporate Tax 101
and figured out a way to escape paying for the
benefitsofthecivilized society in which they do
business.
Besides shedding light on who they are, the
Legislative Assembly should raise the corpo
rate minimum tax to at least the level it was in
1929 - $260 in today’s dollar terms.
Such a change would raise about $33 m il
lion a biennium.
. - r
Charles Sheketoff is the executive direc
tor ofthe Oregon Centerfor Public Policy.
It’s often easier
to pick out the
vehicle . . .
-------------------
than the financing!
For an answ er you can trust,
.
let y ° ur c re dit union help!
. T '"
\A/ I I I
Serving all who live, work, worship or attend school m ihe
______
/ \ J\n k I I t
Federal C redit Union
betters to the (Scditer
Besides paying the Department o f Revenue
a fair price for reviewing their tax returns, lean
think o f a host o f public services that money
could support - services that improve Oregon's
businessclimate.
2151 N W Front Avenue
Portland Oreaon 97209
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www willamettefcu.com
Portland communities ol Arbor I odge, Boise. Bridgeton, Buckman north ol S I
Hawthorne, ( dihedral Park. C hina town, C oncordia west ot N I 33,J Avenue,
C oncordia I niversity. Downtown Portland. I ast Columbia. Goose Hollow,
Humboldt. Irvington west ol N.I 17th Avenue. Kerns, K ing west ol N I 24th
Avenue, luiurclhurst vvcsl o f N I 32nd Avenue. Northwest Portland, Northwest
Industrial Portland. Old Ibtvn. Overlook. Pearl D istrict, Piedmont, Portland
Community t ollege-f aseade I anipus. Portland State University. Portsmouth, Sabin
west ol N I 24th Avenue, St Johns, Sullivan 's tiuleh west o f N F. 20th Avenue,
Sunnyside west nl N F 20th Avenue. University o f Portland. University Park,
Vernon, and Woodlawn.
Support Welcome, Still Needed
The Oregon Commission on Black Affairs
wants to thank you, the citizens ofOregon, for
your support during this critical time for our
state.
The W ays and Means hearings are over.
Thank you to the 25 plus persons who came
from Portland, Salem, Corvallis and Eugene to
testify on behalf o f continued funding for the
O CBA and all o f the Advocacy/A dvisory
Commissions. Y ou presence, testimony, faxes,
and e-m ails have made a difference.
It is important that your elected officials
know your thoughts, concerns and issues re
garding the cuts that have been proposed. The
Governor, your Senator and your representa-
tive need to hear from you and your family
immediately!
Even ifyou contacted them initially, they still
need to hear directly from you via your per
sonal appearance in Salem, viae-mail, fax and
via telephone calls.
Let them know that Oregon’s Commission
on B lack Affairs and the other advocacy agen
cies are a vital link between our communities
and the issues we face:
Oregon Gov. Ted Kulongoski, Office ofthe
Governor, Room 160, 900 Court St., NE
Salem, OR 97301-4047. Phone 503-378-
4582, Citizens message line 503-378-6827,
Fax 503-378-3111.
Sen. Peter Courtney, Senate President.
P h o n e 5 0 3 -9 8 6 -1 6 0 0 , O ffic e S-203
sen.petercourtney@state.or.us.
Sen. BevClamo, Senate Republican Leader,
5 0 3 -9 8 6 -1 9 5 0 ,
O ffic e
S -2 2 3 ,
sen.bevclamo@state.or.us
Rep. Karen Minnis, Speaker o f the House.
P hone 5 0 3 -9 8 6 -1 2 0 0 , O ffic e H -269,
rep.karenminnis@state.or.us
Rep. Deborah Kafoury, Democratic House
Leader. Phone 503-986-1900, Office H-395,
rep.deborahkafoury@state.or.us
Everette L. Rice
OCBA Executive Director
Justice Demands Restitution
Thank you for the great article on repara
tions and on activist Billie Jean McCray. (“Pay
Back Time,” front page, Feb. 12 issue.)
Ms. McCray spoke to an eager audience at
the Radical Women public meeting and every
one left with more knowledge about the history
and demands ofthe reparations movement.
The U.S. governm ent sanctioned slavery
and then low-wage labor o f African Am eri
cans, which made huge profits for business.
They must be held accountable.
Radical Women looks forward to more
collaboration with the courageous men and
women ofthe African American community
who demand just restitution for centuries o f
slavery and institutionalized racism.
Jennifer Laverdure
Radical Women
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CoverThe
UninsuredlVedt
Motch KT16,2003
H ealth F air
Free and open to the public!
The public is invited to a health fair on Wednesday, March 12 in Pioneer
Courthouse Square where free screenings and educational materials will be
available as part of a week-long series of events to bring greater awareness
about the plight of the more than 41 million Americans and 440,000
Oregonians without health insurance. Screenings and information include:
S Blood pressure &
diabetes screening
S Children’s Health Insurance
Program enrollment info
S Disaster Preparedness
S Fitness
S Foot care & massage
S Hearing & eye exams
S Nutrition
S Oregon Health Plan
enrollment info
S Senior Rx drug
assistance info
...and much more!
WHEN:
Wednesday, March 12th
10 a.m. - 4 p.m.
WHERE:
Pioneer Courthouse Square
Downtown Portland
Cover the uninsured Week (CTUW) is a nationwide grassroots effort to
highlight the urgency that action must be taken now to address this growing
health care crisis. For more information about the health fair or any other
Cover the Uninsured Week event in Portland, please call: 503-226-9353 or
log onto www.covertheuninsuredweek.org