Tonight I met two more people, bringing the total to 6 that I have met moving to Vancouver and restructuring how they get paid to avoid the latest SIU tax increases. Both are prominent Portland attorneys who will open a shell office in the 'couve to avoid repressive People's Republic of Oregon taxes- business, personal & property. I also know of 3 companies (with 600, 350 and 200 employees) who have moved to other states to avoid some of the new taxes as well. Now, to be sure, not all the employees are going to be laid off but they have to move the portion of the business where revenues come in the door to avoid the dramatic increase in taxes. Overall probably 400-500 people will lose their jobs and join the white hot job market in Portland. I hope the Oregon State leadership takes notice and maybe reconsiders the view that raising taxes cures all society's ills and that it is the first answer to turn to. It just isn't. We need creativity and better leadership to address the issues at hand. It also makes me wonder if these new taxes will really increase the amount of money coming in as if I know of these 6 people and 3 companies, I have to think there are many many more. Oh well, my moderate rant. C'mon, lefty zombies, time to chime in why I'm all wrong.
Name the three companies. As for the attorneys, they surely know it takes more than opening a "shell office" in Vancouver to avoid OR taxes. barfo
You're wrong. Barfo has already told us many times that higher tax rates don't affect company decisions with respect to hiring, firing, or relocating. If Barfo types it, it must be true.
I may be dumb, but I'm not stupid. Barfo, I can't betray confidences from people "in the know" on the internet.
It's a secret that these companies with hundreds of employees moved out of state? I call BS, BP. barfo
No surprise. It's general knowledge and common sense that if you tax an activity, you get less of it. Art Laffer based a career on converting the production possibility curve to tax rates v. gross tax receipts.
OK, that's a fair point. One of them is Nationwide Insurance (Oregon Claims Operations). They are relocating to Denver. I know a mid level manager there who tells me they started this plan when the idea of the new taxes came up. To be sure, there are some other reasons involved (like the fact they're losing money and moving other offices from states that have high taxes), but he is told directly that the new taxes played a "major role" in the final decision.. Another company is associated with a company called CCLI. I don't know the name of the particular associated company, but it's the one that takes in the song revenue and they have been hit hard by the new tax. Moving to Utah. The other one I will not name as it has a small involvement with me and I do not share anything that direct about either my company or any we're affiliated with on the internet for fear of unknowingly passing along information that can be detrimental to them.
