Worst Tax Proposals in the nation? Guess what made the list!
Think Progress took a look at ballot measures across the nation to see what sort of tax policies Americans are voting on this November.
As it turns out, almost all of them are bad ideas, designed to make taxes less equitable. And of all the bad ideas out there, Oregon has hit the top of the list.
Think Progress has identified Measure 84, Kevin Mannix's Estate Tax Break for millionaires, as one of the "three worst ideas voters will decide on."
Oregon voters will decide on Measure 84, which gradually repeals the estate tax and will cause a $120 million loss in revenue for the state every year. Though other parts of the law are unclear, it could potentially “open a new egregious loophole allowing individuals to avoid capital gains taxes on the sale of land and stock by simply selling property to family members.”
There is no evidence to suggest repealing the estate tax increases the number of wealthy tax payers who live in a state, a constant claim of proponents. In the end, repealing the estate tax would be an extremely regressive move and would only benefit the very wealthy.
Of course, it was no surprise to us that this measure would be counted among a list of "worst ideas," but the gravity of the measure's impact does seem particularly clear, as it tops the national round-up of Bad Ideas.