The high cost of liberalism in Oregon

Opinion Journal:

The Labor Department reported yesterday that Oregon's unemployment rate soared to 12.4% in May, the nation's second highest after Michigan's 14.1%. What to do? If you're the geniuses in the state legislature in Salem, you naturally raise taxes.

Last week the legislature approved a $2 billion tax hike on personal income and small businesses that haven't already left the state. The highest tax rate on income above $500,000 would climb to 11% -- up from an already high 9%. Oregon will soon boast the second highest income tax rate in the nation, moving ahead of California (10.55%), and only slightly behind New York City (12.6%). Corporations will pay a 7.9% tax on gross receipts, up from 6.6%.

But that isn't the worst of it. Another revenue raiser will tax hospitals and private health insurance premiums. That's a good way to encourage private employers to drop their health coverage for workers.

...

What is the difference between Oregon and Texas. Texas cut spending to deal with revenue shortfalls. It should not be too surprising to learn that Texas has accounted for 80 percent of all jobs created in the US in the last two years. Do you think there might be a correlation between low taxes and job creation?

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