Oregon Capital Gains Tax Measure 26-238
Sure, the idea sounds good and people will be drawn to the idea. Helping people deal with evictions makes sense. But it is already being done and the devil is in the details with this measure. No income thresholds for qualifying to use this tax.
There are current , fully funded, programs in place to help those who financially need help with eviction issues.
- Every Multnomah County reside is subject to this new tax.
- Portland and Multnomah County already have successful programs paid for by tax dollars, for rental assistance for evictions for low income residents.
- New tax funds free attorneys for renter, no matter what income level of renter.
- Local family-owned businesses will pay, while biggest corporations will not be required to pay.
- Seniors will pay when they sell their homes to fund health and end of life expenses or withdraw retirement savings (which is required for many).
- No income thresholds for who would receive free services.
- Tax is required to be adjusted annually.
You've got to be kidding me. Another tax for Multnomah County? The Gresham Area Chamber of Commerce opposes this tax. Our payment for this service is been made. Programs are available from the county and city for persons who require financial assistance with housing eviction difficulties. I don't think it's a smart use of tax dollars to take money from home sellers in order to fund-free attorneys, per this bill.
Yes, the concept is appealing and will attract people's attention. It makes logical to aid those facing eviction in doing so. Yet, everything has already been done, and this measure is all in the details. There are no requirements for income to use this tax. The focus of current programs is wisely on residents with little means.
Every year, the tax must be changed. Do you understand what "adjusted" in government means? That implies that the tax rate will increase. Moreover, there is NO cap on the rise.
Seniors will be especially harmed by this policy. Residents will be taxed when sell their home in order to fund an assisted living facility. Free legal representation will be provided by the money seniors need to live out their years. Seniors who make capital gains by selling a home for more money than they initially paid will be required to pay this additional capital gains tax.
To accomplish what is already being done by taxes we already pay, we don't need a new tax. On Proposition 26-238, join the Gresham Area Chamber of Commerce and vote against it. Help our elderly.