On January 26, 2010 Oregon voters approved two legislatively-enacted tax increase measures. Before the election, Cascade Policy Institute asked two prominent Oregon economists, Drs. Randall Pozdena and Eric Fruits, to analyze the impact that these measures will have on the state economy. Using two different methods, they concluded that the earlier preliminary estimates by Drs. William Conerly and Randall Pozdena of 70,000 jobs lost over time are…

…entirely plausible and may even be conservative. Their study looks at more than just job losses, and cites a large body of economic literature that clearly demonstrates the negative effects of raising marginal tax rates on economic growth and employment growth.

We told you so!
Check out the Aug 26, 2010 update from Steve Buckstein showing Cascade employment predictions from last year nearly in-step with current state projections.

Measures 66 and 67 will cost 70,000 Oregonians their jobs!

January 4, 2010
Initial Media Release
Oregon Economists Expand on the Negative Effects of Measure 66 and 67 Tax Increases
Printable PDF version

Tax Policy and the Oregon Economy:
The Effects of Measures 66 and 67

by Eric Fruits, Ph.D. and Randall Pozdena, Ph.D.
December 2009
Oregon economists provide more than 70,000 reasons to oppose Measures 66 and 67
Click HERE to read William Conerly and Randall Pozdena’s voters pamphlet statement
Press Release

Measure 66 (personal income tax increase)

Measure 67 (corporate tax increases)

  • Raising Oregon’s Corporate Income Tax Rate Will Cost 43,000 Oregon Jobs
    by Randall Pozdena, Ph.D.
    Dr. Pozdena is President of QuantEcon, Inc., and Managing Director of ECONorthwest, two Oregon-based consultancies. His specialty is quantitative economics and financial analysis, which he has practiced in Portland since 1991. Prior to that time, he was a Research Vice President for the Federal Reserve Bank of San Francisco and a Senior Economist at the Stanford Research Institute. He has taught economics and finance at the Graduate School of Business, University of California, Berkeley and at the Graduate School of Administration, University of California, Irvine. Pozdena earned his B.A. in Economics from Dartmouth College and his Ph.D. in Economics from the University of California, Berkeley. He is a member of the CFA Institute, and has served on numerous non-profit, university, and private investment boards. He is former Chair of the Oregon Investment Council, which manages the Oregon PERS assets.

Further M66 and M67 analysis and commentary

Related economic analysis