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Old 01-25-2007, 07:36 PM   #1
Cool Texan
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Default Kicker Tax Refund?

So I just did a quick drive-by in Turbo Tax to get a rough idea of my tax status....in the Oregon section it talked about being eligible for a kicker refund and asked if I wanted to give it to the schools.....I said no to this. But, my state refund amount did not go up. Do I not get the Kicker money via my state tax filing, but separately in the mail later?? Or....did I miss something?

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Old 01-25-2007, 08:05 PM   #2
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Default Re: Kicker Tax Refund?

Kicker tax refunds are sent out in the Fall, and are seperate of normal State Tax refunds.
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Old 01-25-2007, 08:31 PM   #3
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Default Re: Kicker Tax Refund?

Not till the Fall? Dang. Ok, I can wait. Thanks.
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Old 01-26-2007, 07:42 AM   #4
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Default Re: Kicker Tax Refund?

Hi guys... I'm trying to get some work done, this morning.

Let's leave it at kicker info. No political stuff. K?

I have gone through this and tried to clean it up. I don't have time for this right now, so please try to help out by following the rules. It's proven over and over. Politics divide. Don't want that, here.

Thank you!
Jen
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Old 01-26-2007, 07:56 AM   #5
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Default Re: Kicker Tax Refund?

Thanks Jennie.
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Old 01-26-2007, 07:59 AM   #6
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Default Re: Kicker Tax Refund?

You get it later -

and it costs us about a million dollars to process all of 'em. BRILLIANT!!
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Old 01-26-2007, 08:00 AM   #7
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Default Re: Kicker Tax Refund?

Thanks Jennie.
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Old 01-26-2007, 09:35 AM   #8
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Default Re: Kicker Tax Refund?

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if (_pdata) { addpdata("ptype", "story"); addpdata("stuid", "116978013431910"); addpdata("sttitle", "Economists: Kicker is useless"); addpdata("stcat", "fnfp"); addpdata("stsource", "The_Oregonian"); addpdata("stdate", "01/26/07"); addpdata("stpnum", "1"); addpdata("stnpgs", "2"); }Economists: Kicker is useless

School funding - At a legislative debate, both sides say the corporate rebate fails to grow Oregon's economy
Friday, January 26, 2007 BETSY HAMMOND

What was billed as a debate by dueling economists before legislators who write Oregon tax laws turned on Thursday into a unified message: Spending more on education would pump up Oregon's economy, while giving corporations a "kicker" tax rebate does almost zilch to grow jobs and income.
Both Phil Romero, a University of Oregon economist who was chief economic adviser to former California Republican Gov. Pete Wilson, and Richard Sims, a former chief economist in two states and expert on state tax and fiscal policy whose visit was financed by the Oregon teachers union, agreed on those fundamental points.
They said spending more on education creates jobs for educators, creates jobs for those who serve them and draws new businesses that want a well-educated work force and good
schools for their employees.
By contrast, they said, giving corporations an after-the-fact tax cut in years when corporate tax payments surge beyond projections does not draw employers or change corporate behavior. Giving those kicker rebates to corporations, as Oregon has done for a quarter-century, reduces the money available to provide public services without a corresponding benefit to the economy, they said.
Lawmakers on the House and Senate revenue committees, which write tax laws, have worked to keep Oregon's corporate taxes among the lowest in the nation. They also have crafted a tax policy that, in recent years, has yielded too little revenue to keep spending on schools and universities up to the national average.
Rep. Phil Barnhart, D-Eugene, the new chairman of the House Revenue Committee, said he was glad to get an unequivocal answer about the wisdom of that approach: From an economic standpoint, it's nuts.
"For years, the debate in the Oregon Legislature has been over whether you can enhance economic development in Oregon by cutting corporate taxes. Today we didn't hear two different sides. We heard a unanimous 'no.'
"We should stick to . . . raising the dollars needed to provide education, transportation, safety and infrastructure. . . . And the economic growth will take care of itself," Barnhart said.
Romero said cutting corporate taxes can play a role in growing the economy, as he said happened under his watch as California climbed out of a recession in the 1990s.
But he agreed with Senate Revenue Chairman Ryan Deckert, D-Beaverton, that a smarter strategy for Oregon, given its relatively low business taxes, low spending on higher education and low rates of adults with college degrees, is to raise taxes and spend them on education.
"I actually think that is a very good idea, with an important caveat," Romero said. That strategy "needs to be married with strategies that make it easier for corporations to invest in Oregon." Romero advocates lowering capital gains taxes.
Lawmakers are expected to grapple this session with whether to end the corporate kicker rebate.
Under Oregon's one-of-a-kind kicker law, when corporate tax payments come in at least 2 percent higher than predicted two years in advance, all of the unanticipated money is returned to corporations rather than saved or spent by the state. Because corporate profits are difficult to predict with that degree of accuracy, corporations often get rebates. This year, they are projected to get two-thirds off their Oregon tax bills.
Gov. Ted Kulongoski has proposed diverting this year's $275 million corporate kicker, and any future corporate kicker rebates, into a state savings account. Some influential business groups have said they could go along with his plan because they want stability for Oregon's tax system.
Many lawmakers have yet to stake out a position on the corporate kicker.
Giving corporations kicker rebates is a dumb way to try to grow the economy, the economists testified Thursday, because corporations don't know until after the fact whether their actions for the year will lead to a tax cut. Corporate kicker rebates, although they can be large, are sporadic and unpredictable.
"Tax cuts have the greatest economic effect when businesses can plan on them," Romero said.
"You couldn't waste money any better than that," Sims said of the kicker.
Betsy Hammond: 503-294-7623; [email protected] news.oregonian.com
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Old 01-26-2007, 10:10 AM   #9
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Default Re: Kicker Tax Refund?

The kicker "kicks in" if revenue supasses 3% of the set budget if I remember correctly. What I dont get is where all the money goes when the budget surpasses 0.1-2.99 %? I would think that in itself would have created a "rainy day" fund over the years. So I take it they just spend it on whatever?
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Old 01-26-2007, 11:39 AM   #10
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Default Re: Kicker Tax Refund?

donate it to the schools? They already do an "outstanding job" with what they have. No thank you. I will donate my to the Widmer Brothers. Atleast then I will feel good about myself.
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Old 01-26-2007, 12:24 PM   #11
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Default Re: Kicker Tax Refund?

freespool? Why are you going back to politics? Guys?

Did you not hear my request?

Please... no politics.

Jen
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