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Local Politics Discuss Portland city council passes law to raise taxes on CEOs to address ‘income inequality at the Political Forums; Why don't libs just say what they really mean: We want to punish successful people and use their money to ...

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Old 12-10-2016, 08:19 PM
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Default Portland city council passes law to raise taxes on CEOs to address ‘income inequality

Why don't libs just say what they really mean: We want to punish successful people and use their money to spread the wealth and give it to the lazy and unmotivated who would rather suck off the government tit than have goals and motivation.

Portland city council passes law to raise taxes on CEOs to address ‘income inequality’ – TheBlaze

The city of Portland, Oregon, recently passed a new law that will raise the tax on businesses whose CEO makes substantially more than their workers.

According to the New York Times, companies located in the city will see a 10 percent tax increase if their CEO makes more than 100 times the average pay of their workers and 25 percent tax increase if the CEO makes 250 times the average worker salary.

The new law is set to take effect next year and is expected to only raise an additional $2.5 million to $3.5 million in revenue per year. The additional income is expected to be used to help address “income inequality” on the local level, while beefing up the funds for public workers like police officers and firefighters.

More from the Times:

The tax will take effect next year, after the Securities and Exchange Commission begins to require public companies to calculate and disclose how their chief executives’ compensation compares with their workers’ median pay. The S.E.C. rule was required under the Dodd-Frank legislation enacted in 2010.

Portland’s executive-pay surcharge will be levied as a percentage of what a company owes on the city’s so-called business license tax, which has been in place since the 1970s.

Many liberals across the country have praised the new law, but local business owners in Portland are not particularly thrilled about it.

The Portland Business Alliance, which is a group of 1,850 companies that do business in Portland, said the law will not have the desired effect of lowering “income inequality,” but instead will have many undesirable consequences.

“We think they’d be far better off trying to work with business leaders to create more jobs that will lift people up and improve incomes,” the group’s president, Sandra McDonough, told the Times, adding that large, publicly traded companies are “an easy group to pick on.”

Still, Portland city officials are hailing the law as one that will help address income inequality.

Portland City Commissioner Steve Novick said on Fox News Friday that the largest problem facing the U.S. today is the extreme wealth of top Americans — aside from climate change, of course.

“The richest one percent — and especially the richest one-tenth of one percent — have far more income and wealth and power than they did 40 years ago,” Novick told Fox host Neil Cavuto. “And it’s been economically destabilizing, socially destabilizing, politically destabilizing.

Cavuto, however, argued that the new tax would hurt Portland’s economy by encouraging businesses to leave the city, while discouraging new businesses not to move to the city.
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Old 12-10-2016, 08:59 PM
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Default Re: Portland city council passes law to raise taxes on CEOs to address ‘income inequa

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Cavuto, however, argued that the new tax would hurt Portland’s economy by encouraging businesses to leave the city, while discouraging new businesses not to move to the city.
That is exactly what will happen. This is the problem when people pass "feel-good" legislation without using logic to foresee the consequences.
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Old 12-15-2016, 05:12 PM
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Default Re: Portland city council passes law to raise taxes on CEOs to address ‘income inequa

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That is exactly what will happen. This is the problem when people pass "feel-good" legislation without using logic to foresee the consequences.
Ever been to Portland? It's the Bangkok of America. Downtown is full of homeless, it's filthy and full of degenerates.
Remember how the mayor (or city council) passed some ridiculous legislation allowing the homeless to camp out on the sidewalds only to have businesses sue the city to get it reversed?
Portland is a perfect example of what happens when liberalism runs amuck.
Guaranteed, they'd rather have degenerates pissing and fornicating in the streets downtown than CEO's in their office bldgs.
It makes them feel good about themselves.
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Old 12-15-2016, 11:39 PM
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Default Re: Portland city council passes law to raise taxes on CEOs to address ‘income inequa

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Ever been to Portland? It's the Bangkok of America. Downtown is full of homeless, it's filthy and full of degenerates.
Remember how the mayor (or city council) passed some ridiculous legislation allowing the homeless to camp out on the sidewalds only to have businesses sue the city to get it reversed?
Portland is a perfect example of what happens when liberalism runs amuck.
Guaranteed, they'd rather have degenerates pissing and fornicating in the streets downtown than CEO's in their office bldgs.
It makes them feel good about themselves.

It is also one ofe most popular cities in the US. Honestly I really don't like the weather. but the people seem to be great.
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Old 12-16-2016, 03:53 PM
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Default Re: Portland city council passes law to raise taxes on CEOs to address ‘income inequa

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It is also one ofe most popular cities in the US. but the people seem to be great.
It's a very popular destination for the homeless and yes the people are very welcoming to them.
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