10 Years...30 Years...What's The Difference?
Oregon’s lawmakers bought a real pig in a poke with this deal. Governor Kitzhaber comes out and asks for authority to strike a ten year deal for “tax certainty” by Nike. Before anyone has a chance to think about it, a special session of the legislature passes the thing. Now I like Nike and I hope they stay here forever and create lots of new jobs. But they’re a worldwide company and frankly that doesn’t seem likely. Then we find out that its not a ten year deal for Nike…but a thirty year deal. and we find out it’s not just one company…the governor now has the right to pick winners and losers for tax certainty and the deals can run out to as much as forty years. The law seems to forbid making promises that must be kept by future legislatures and decisions by voters. And I fully expect that governor retread will ask the legislature to approve a sales tax for Oregon, because goodness knows the government just doesn’t have enough of your paycheck yet. You wonder if there’s a Santa Claus? Yep…and he lives in the Pearl and commutes to Salem every day.
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