Economy · News · Real Estate

Oregon Increases Taxes on the Wealthy…

Oregon’s top earners may be preparing for a mass exodus now that Oregon has voted to target the wealthy to solve their deficit problems.

It is possible SW Washington will see businesses and high income earners relocating over the border to avoid the new tax increases. Prior to this tax increase being passed we talked to several people from Oregon that said, “If Oregon increases our taxes, we are out of here.”

Time will tell if Oregon’s tax increase will cause a wave of top earners to move across the border into SW Washington. At a time when Washington has it’s own deficit problems, a move like over the border could benefit Washington state greatly.

Regarding Washington’s budget shortfall, Governor Chris Gregoire said “I will do my best to avoid any new taxes that slow our economic recovery. I will balance, as best I can, my interest in keeping new taxes down, while still protecting programs that I believe the vast majority of us agree are just too important to eliminate. We need a combination of reduced funding for services and raising revenue.”

Avoiding new taxes may sound very appealing to Oregon’s high income earners.

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