Thu, July 04, 2024 at 16:59

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some significant news about a potential guaranteed income program in Oregon.

  • 
• Annie

  • Oh, that sounds interesting!

  • Can you tell me more about it?😊

  
• 

  Kang-hoon

  • Certainly.

  • The program proposes to distribute $3.15 billion annually to Oregon residents if it becomes law.

  • Each adult resident would receive about $750 per year.

• Annie

  • Wow, $750 per year for everyone?

  • How will they fund this program?

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • The funding would come from a 3% tax on corporations with more than $25 million in annual sales.

  • This measure is likely to appear on the November ballot.

• Annie

  • I see.

  • Have they gathered enough support for this measure?

  
• 

  Kang-hoon

  • Yes, proponents have collected over 135,000 signatures, surpassing the minimum requirement of 117,173.

  • The final step is for the Secretary of State to validate these signatures.

• Annie

  • That's impressive.

  • But are there any opponents to this measure?

  
• 

  Kang-hoon

  • Indeed.

  • Oregon Business and Industry, a leading statewide business association, is strongly against it.

  • They argue that the corporate tax hike would harm businesses and increase the cost of goods and services.

  • 
• Annie

  • That makes sense.

  • What are their main concerns?

  
• 

  Kang-hoon

  • Their primary concern is the 'massive tax increase' on corporations.

  • They believe this will lead to higher prices for consumers and potentially drive businesses out of the state.

• Annie

  • Hmm, that sounds like a significant issue.

  • How confident are the opponents about their chances?

  
• 

  Kang-hoon

  • The opponents are quite confident.

  • They plan to campaign vigorously against the measure and believe that once voters understand the facts, they will reject it.

• Annie

  • It sounds like a heated debate is on the horizon.

  • What do you think will be the impact on the market if this measure passes?

  
• 

  Kang-hoon

  • In the short term, I believe it would be a negative development.

  • The increased tax burden on corporations could lead to higher prices and reduced business investment, which would likely have an adverse effect on the local economy.

• Annie

  • That’s concerning.

  • So, you think this news is more of a bad sign for the market?

  
• 

  Kang-hoon

  • Yes, from a short-term perspective, this measure could be considered a negative factor for the market.

  • The potential for increased costs and economic disruption outweighs the benefits of the guaranteed income, at least initially.

• Annie

  • Got it.

  • Thanks for the detailed explanation, Kang-hoon.

  • This really helps me understand the broader implications.🙏

  
• 

  Kang-hoon

  • You're welcome, Annie.

  • It's always important to consider both sides of such significant measures.

  • If you have any more questions, feel free to ask.

• Annie

  • Will do!

  • Thanks again!👋

  
• 

  Kang-hoon

  • Upon comprehensive consideration, this news is perceived as a 😱Bearish.