- Eye on Media
Despite decades of statistics demonstrating that as corporate tax rates go down unemployment and poverty rates go up and the income inequality gap widens, the myth that tax breaks are somehow good for the working class persists. The local paper demonstrates this dogmatic, ideological, dare I say faith-based belief that repeating the same failed strategies will somehow produce different results. From the Cheers & Jeers section of The World.
Last year, when a special legislative session froze Nike’s tax formula, many voices suggested offering similar deals to smaller businesses. After all, Oregon does not live by tread alone. But legislative Democrats stomped the idea this week. Jeers.
Why was it such a good idea to enable Nike chairman and co-founder Phil Knight to increase his personal net-worth, already hovering around $14.1 billion, by not paying taxes which enable he and his wife to look like great philanthropists by making tax deductible charitable donations? The parent company, Lee Enterprises, probably doesn’t want to pay its fair share of taxes for the use and maintenance of public infrastructure anymore than Nike does.