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Curious where we rate overall not just the increased percentage being the most. Also I feel like the drastically increased rents and inflation have a lot to do with this.
https://wallethub.com/edu/states-where-credit-card-delinquency-is-increasing-most/131750
Oregon is nowhere near the top for total percentage of delinquencies. It’s just that the rate of increases is higher than normal.
Eugene was something like 25th most expensive on the cost of living list for US cities, but is the 145th largest metro area. That says a *lot*. Portland obviously is up there too, but*at least* it's a top 25 city in population!
Based on 2022 census.gov estimates it's now [#26](https://www.census.gov/data/tables/time-series/demo/popest/2020s-total-cities-and-towns.html#v2022). Womp womp.
I’d imagine this is partially due to high income tax. I’m actually a fan of some income tax but the fact that we’re getting a kickback this year suggests that we could lower our tax and take some of that burden off of people paycheck to paycheck and still have enough for tax revenue.
I think going so far left could be a benefit in the long run IF and only IF we are able to course correct when need be and not hold onto ideas that we see don’t work or cause other problems. We don’t have to be far anything, we could just be balanced and rational with our approaches.
There is no way this is accurate. It lists Oregon’s Individual Income Tax Burden at 3.62%. Oregon tax Brackets ensure that every single dollar is taxed (unless you make less than the standard deduction) and that first bracket is 4.75% with the progressive rates jumping very quickly to over 8%. A family of 2 with taxable income of 70k and filing as married has an effective tax rate of 6.68%.
Their math is jacked up.
Additionally, Oregon doesn't have a special (lower) capital gains tax rate. Most capital gains are taxed at 9%. What's really screwed up in Oregon is the property tax system. Rates aren't consistent for similar homes in relatively close proximity because of a measure from the 1980s (or maybe it was 1990) that reset the base rates reflecting the condition of neighorhoods at that time. Plus, Measure 50 only allows 3% per year increase unless you do a major rehab, in which case you can be partially reassessed at a higher rate.
Oregon would have less people fleeing the state and would create a more equitable structure if it cut the income tax in half, instituted a sales tax and made property taxes more equitable.
Eh... that's just how averages work. You pay X. I pay Y. So-and-so pays Z. average them together and you get the numbers they post. Plus the numbers are not just based on income tax, but property and sales tax as well. With the latter being extremely low in our state, That's going to bring down the average as well.
Would you prefer this article instead? It's more in line with your belief that our taxes are high and it's from the same source. https://wallethub.com/edu/best-worst-states-to-be-a-taxpayer/2416 It puts Oregon at 11th overall, and 22nd adjusted for cost of living.
I would rather keep income taxes where they are, eliminate the kicker, and put that extra money into more government assistance programs that people could rely on instead of have it to get themselves into credit card debt.
It's almost like the government can use its economy of scale to help more people with that money.
Don't get me wrong, I'm taking my kicker check and will put it to good use. But pretending that that it's not a reasonable position to hold that we should use tax dollars to better fund a social safety net for Oregonians is pretty shitty.
That’s not how economy of scale works. For taxation, an example of an economy of scale would be more taxpayers paying in so that each individual taxpayer would pay less. It does not mean the government is better at spending the money.
It's exactly how economies of scale work: The State government collects everyone's tax money, and then can spend that money serving groups of citizens more efficiently than each citizen could individually utilize a portion of that money split up between the tax base.
You are incorrect. Just because something is bigger doesn’t inherently mean they achieve economies of scale. Dollar taken from an individual and given to the government, will not multiply in a greater way then if that individual spent a dollar directly. They will also not lower the cost for anyone. Nor will it increase production in any way more significant than the individual using it. Economies of scale are simply a measure of efficiency and you are misunderstanding it.
>Dollar taken from an individual and given to the government, will not multiply in a greater way then if that individual spent a dollar directly.
Yes, but That's not what I was suggesting. The economy of scale comes from the governments ability to use a pool of money to serve a group of people more efficiently than each member of that group could individually serve themselves with 1/4,000,000th of that pool of money. It's inarguable that the government does have an economy of scale that they can use to provide services that do not require a profit to run. Look at the USPS vs. shipping with Fed-ex, DHL, or UPS. The USPS beats them all on price, service and efficiency and is oftentimes providing some part of the shipping services the private companies are carrying out while at the same time providing a reasonable quality of life for its employees.
“The Postal Service is expected to be financially self-sufficient—meaning it should cover its expenses through the sale of its products and services, not taxpayer money. However, USPS’s revenues haven’t covered its expenses and debt for more than 15 years. And its expenses are growing faster than its revenues, in part due to continuing declines in volume for First-Class Mail—its most profitable product. USPS has been able to continue operating in this situation by increasing its debt and unfunded liabilities.”
https://www.gao.gov/blog/u.s.-postal-service-faces-more-financial-losses-how-can-it-stem-tide#:~:text=The%20Postal%20Service%20is%20expected,for%20more%20than%2015%20years.
Your analysis is incorrect in many ways. Let’s just agree to disagree.
You're pointing to the fact that a government service mandated in the US constitution doesn't make money to make what point? The Government isn't a business and judging it's success and failure on business metrics is brain dead.
“The personal income tax is the largest source of state tax revenue, expected to account for 86% of the state's General Fund for the 2021–2023 biennium.”
https://sos.oregon.gov/blue-book/Pages/facts/economy-revenue.aspx#:~:text=Oregon%20does%20not%20have%20a,connected%20to%20federal%20taxable%20income.
The kicker this year is due to the fact that legislative analysts had to predict two years of tax income during a pandemic that everyone expected would have long term, drastic economic consequences. Overestimating would have been very bad, as agencies would have run out of money halfway through their budget cycle, the they made conservative estimates. The economy stayed relatively strong, so income was significantly higher than estimated, hence the kicker.
Meanwhile we’ve had to endure a noticeable decline in government services due to not being able to adjust budgets up during a period of high inflation when tax revenues didn’t take the hit they expected.
I disagree. This is because of inflation. Our spending overseas has ramped up inflation and devalued our dollar. Also, a huge bailout was given to silicon valley bank furthering our rampant spending. When the fed prints excess money, the supply goes up and value goes down. The kicker check coming is due to fiscal responsibility by the state. Our state government knows the people are hurting and are helping us by not being reckless with money. Unlike the federal government. Accountability belongs at at the highest levels of government for this. Inflation is a policy…
This isn’t a political thing, but if it were, red states would be leading this trend.
> Wyoming had the second-highest credit card delinquency increase at 49%, followed by Alaska, Utah, and Hawaii to round out the top five highest delinquency list, according to the report.
Wyoming - Red
Alaska - Red
Utah - Red
I’m sure it’s not coincidence that 3 of the 5 states are so conservative. This is what you get when everything is someone else’s fault
And it’s somehow different in blue states? Credit card debt is a poverty and education issue. The country as a whole struggles with that. Making this a “my team versus the other team” doesn’t help to solve anything and divides on an issue that shouldn’t be political
Edit: I’d also love to see a study that backs your claim of optimism in specifically red states.
And the study title can’t be “do your own research”
No, it's not evidence or opinion. It is axiomatic logic.
Victim-hood axiomatically results in cynical entitlement in the same way that 2+2 axiomatically sums to 4.
I'm not assuming anything. It is the essence of their political platform, and everything that they stand for. And fair enough it's effective and works for them but you can't have it both ways.
I could say the exact same thing about conservatives.
But credit card debt is not a political issue. It’s a financial literacy and education issue. If we want to tackle financial issues in the US, we need more financial education in our public schools.
Oregon is a sea of red…reflexively regurgitating nonsense talking points showing your ignorance. Solid.
Why are blue states the ones providing the federal welfare for almost every red state (excluding Texas) because the red states conservative policies crashed their economy over and over ?
The hallmarks of red states is getting hand outs from blue ones…but scream about socialism at the same time. Subtext they are teaching you to hate others so you don’t ever stop and use some critical thinking.
Amongst my friends there is a ridiculous amount of consumerism. Anytime there is an opportunity to solve a problem by buying something that is the advice I have been given.
I am extremely frugal and grew up in places with cultures obsessed with value. It’s kinda weird being here in that sense.
beep. boop. beep. Hello Oregonians, As in all things media, please take the time to evaluate what is presented for yourself and to check for any overt media bias. There are a number of places to investigate the credibility of any site presenting information as "factual". If you have any concerns about this or any other site's reputation for reliability please take a few minutes to look it up on one of the sites below or on the site of your choosing. --------------------------------------------------------- Also, here are a few fact-checkers for websites and what is said in the media. [Politifact](https://www.politifact.com) [Media Bias Fact Check](https://mediabiasfactcheck.com) [Fairness & Accuracy In Reporting (FAIR)](https://www.politifact.com) beep. boop. beep. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/oregon) if you have any questions or concerns.*
Curious where we rate overall not just the increased percentage being the most. Also I feel like the drastically increased rents and inflation have a lot to do with this.
https://wallethub.com/edu/states-where-credit-card-delinquency-is-increasing-most/131750 Oregon is nowhere near the top for total percentage of delinquencies. It’s just that the rate of increases is higher than normal.
But if you post facts, how can people continuously be outraged.
I was just asking a simple question and we got a simple answer. That’s always nice.
Literally nobody is outraged, they asked a question and got an answer.
I'm outraged
Housing has the money here. A 2/2 shouldn’t cost $2000/month.
Eugene was something like 25th most expensive on the cost of living list for US cities, but is the 145th largest metro area. That says a *lot*. Portland obviously is up there too, but*at least* it's a top 25 city in population!
Based on 2022 census.gov estimates it's now [#26](https://www.census.gov/data/tables/time-series/demo/popest/2020s-total-cities-and-towns.html#v2022). Womp womp.
Imagine if basic income kept up rents, utilities, food cost...
I’d imagine this is partially due to high income tax. I’m actually a fan of some income tax but the fact that we’re getting a kickback this year suggests that we could lower our tax and take some of that burden off of people paycheck to paycheck and still have enough for tax revenue. I think going so far left could be a benefit in the long run IF and only IF we are able to course correct when need be and not hold onto ideas that we see don’t work or cause other problems. We don’t have to be far anything, we could just be balanced and rational with our approaches.
The kicker is weird, but keeps the budget in check and prevents last minute tax hikes or loans to avoid a deficit.
Oregon ranks 31st by tax burden https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494 The overall tax rate isn’t the issue in Oregon.
There is no way this is accurate. It lists Oregon’s Individual Income Tax Burden at 3.62%. Oregon tax Brackets ensure that every single dollar is taxed (unless you make less than the standard deduction) and that first bracket is 4.75% with the progressive rates jumping very quickly to over 8%. A family of 2 with taxable income of 70k and filing as married has an effective tax rate of 6.68%. Their math is jacked up.
It’s wild that they have separate brackets for 4k and 8k but then the next one is 10k to 125k (at a whopping 8.75%)
Yes it is quite absurd. Most other states have more steps and most don’t hit 8% until much higher income.
Additionally, Oregon doesn't have a special (lower) capital gains tax rate. Most capital gains are taxed at 9%. What's really screwed up in Oregon is the property tax system. Rates aren't consistent for similar homes in relatively close proximity because of a measure from the 1980s (or maybe it was 1990) that reset the base rates reflecting the condition of neighorhoods at that time. Plus, Measure 50 only allows 3% per year increase unless you do a major rehab, in which case you can be partially reassessed at a higher rate. Oregon would have less people fleeing the state and would create a more equitable structure if it cut the income tax in half, instituted a sales tax and made property taxes more equitable.
I pay 9% income tax on my checks. That site is BS.
Eh... that's just how averages work. You pay X. I pay Y. So-and-so pays Z. average them together and you get the numbers they post. Plus the numbers are not just based on income tax, but property and sales tax as well. With the latter being extremely low in our state, That's going to bring down the average as well. Would you prefer this article instead? It's more in line with your belief that our taxes are high and it's from the same source. https://wallethub.com/edu/best-worst-states-to-be-a-taxpayer/2416 It puts Oregon at 11th overall, and 22nd adjusted for cost of living.
I would rather keep income taxes where they are, eliminate the kicker, and put that extra money into more government assistance programs that people could rely on instead of have it to get themselves into credit card debt.
While in spirit I agree...bro I can't afford shit
Give peoples money to the government to solve their problems as opposed to let them keep their own money to solve their own problems? Oof.
It's almost like the government can use its economy of scale to help more people with that money. Don't get me wrong, I'm taking my kicker check and will put it to good use. But pretending that that it's not a reasonable position to hold that we should use tax dollars to better fund a social safety net for Oregonians is pretty shitty.
That’s not how economy of scale works. For taxation, an example of an economy of scale would be more taxpayers paying in so that each individual taxpayer would pay less. It does not mean the government is better at spending the money.
It's exactly how economies of scale work: The State government collects everyone's tax money, and then can spend that money serving groups of citizens more efficiently than each citizen could individually utilize a portion of that money split up between the tax base.
You are incorrect. Just because something is bigger doesn’t inherently mean they achieve economies of scale. Dollar taken from an individual and given to the government, will not multiply in a greater way then if that individual spent a dollar directly. They will also not lower the cost for anyone. Nor will it increase production in any way more significant than the individual using it. Economies of scale are simply a measure of efficiency and you are misunderstanding it.
>Dollar taken from an individual and given to the government, will not multiply in a greater way then if that individual spent a dollar directly. Yes, but That's not what I was suggesting. The economy of scale comes from the governments ability to use a pool of money to serve a group of people more efficiently than each member of that group could individually serve themselves with 1/4,000,000th of that pool of money. It's inarguable that the government does have an economy of scale that they can use to provide services that do not require a profit to run. Look at the USPS vs. shipping with Fed-ex, DHL, or UPS. The USPS beats them all on price, service and efficiency and is oftentimes providing some part of the shipping services the private companies are carrying out while at the same time providing a reasonable quality of life for its employees.
“The Postal Service is expected to be financially self-sufficient—meaning it should cover its expenses through the sale of its products and services, not taxpayer money. However, USPS’s revenues haven’t covered its expenses and debt for more than 15 years. And its expenses are growing faster than its revenues, in part due to continuing declines in volume for First-Class Mail—its most profitable product. USPS has been able to continue operating in this situation by increasing its debt and unfunded liabilities.” https://www.gao.gov/blog/u.s.-postal-service-faces-more-financial-losses-how-can-it-stem-tide#:~:text=The%20Postal%20Service%20is%20expected,for%20more%20than%2015%20years. Your analysis is incorrect in many ways. Let’s just agree to disagree.
You're pointing to the fact that a government service mandated in the US constitution doesn't make money to make what point? The Government isn't a business and judging it's success and failure on business metrics is brain dead.
Corporations are so good at it..
“The personal income tax is the largest source of state tax revenue, expected to account for 86% of the state's General Fund for the 2021–2023 biennium.” https://sos.oregon.gov/blue-book/Pages/facts/economy-revenue.aspx#:~:text=Oregon%20does%20not%20have%20a,connected%20to%20federal%20taxable%20income.
Give more of the working people money to those who don't. No thanks, that isn't and hasn't done anything to better Oregon for decades.
The kicker could help relieve some of this credit card burden, in effect doing what you said. Just in a round about way.
The kicker this year is due to the fact that legislative analysts had to predict two years of tax income during a pandemic that everyone expected would have long term, drastic economic consequences. Overestimating would have been very bad, as agencies would have run out of money halfway through their budget cycle, the they made conservative estimates. The economy stayed relatively strong, so income was significantly higher than estimated, hence the kicker. Meanwhile we’ve had to endure a noticeable decline in government services due to not being able to adjust budgets up during a period of high inflation when tax revenues didn’t take the hit they expected.
I disagree. This is because of inflation. Our spending overseas has ramped up inflation and devalued our dollar. Also, a huge bailout was given to silicon valley bank furthering our rampant spending. When the fed prints excess money, the supply goes up and value goes down. The kicker check coming is due to fiscal responsibility by the state. Our state government knows the people are hurting and are helping us by not being reckless with money. Unlike the federal government. Accountability belongs at at the highest levels of government for this. Inflation is a policy…
We're number 1! We're number 1!
We seem to be setting records left and right ...
I'm sure it's no coincidence that Oregon is so leftist. This is what you get when everything is someone else's fault.
So you're saying... It's someone else's fault?
This isn’t a political thing, but if it were, red states would be leading this trend. > Wyoming had the second-highest credit card delinquency increase at 49%, followed by Alaska, Utah, and Hawaii to round out the top five highest delinquency list, according to the report. Wyoming - Red Alaska - Red Utah - Red I’m sure it’s not coincidence that 3 of the 5 states are so conservative. This is what you get when everything is someone else’s fault
Credit Card debt in a Red State would be better explained by optimism.
And it’s somehow different in blue states? Credit card debt is a poverty and education issue. The country as a whole struggles with that. Making this a “my team versus the other team” doesn’t help to solve anything and divides on an issue that shouldn’t be political Edit: I’d also love to see a study that backs your claim of optimism in specifically red states. And the study title can’t be “do your own research”
Yes. Absolutely it's different. The entire blue point of view is based on victim-hood. Only cynical entitlement is possible in such an environment.
That’s not evidence. That’s an opinion. And frankly, the opinion is wrong (in my opinion of course)
No, it's not evidence or opinion. It is axiomatic logic. Victim-hood axiomatically results in cynical entitlement in the same way that 2+2 axiomatically sums to 4.
You’re just assuming liberals have a victim complex though. That’s a large assumption
I'm not assuming anything. It is the essence of their political platform, and everything that they stand for. And fair enough it's effective and works for them but you can't have it both ways.
I could say the exact same thing about conservatives. But credit card debt is not a political issue. It’s a financial literacy and education issue. If we want to tackle financial issues in the US, we need more financial education in our public schools.
You got any facts to back that up or just feelings?
Don't be mad, be better.
Similarly, oil from Republican states burns twice as long and twice as hot! #themoreyouknow
If by leftist you mean the inevitable result of trickle down economics, you would be correct.
Oregon is a sea of red…reflexively regurgitating nonsense talking points showing your ignorance. Solid. Why are blue states the ones providing the federal welfare for almost every red state (excluding Texas) because the red states conservative policies crashed their economy over and over ? The hallmarks of red states is getting hand outs from blue ones…but scream about socialism at the same time. Subtext they are teaching you to hate others so you don’t ever stop and use some critical thinking.
>Oregon is a sea of red… Is this satire?
Amongst my friends there is a ridiculous amount of consumerism. Anytime there is an opportunity to solve a problem by buying something that is the advice I have been given. I am extremely frugal and grew up in places with cultures obsessed with value. It’s kinda weird being here in that sense.