As an Oregonian, you pay your fair share of taxes. So why don’t large and out-of-state corporations do the same?
Comcast, the cable TV, internet, and phone service provider, recently applied for a tax break meant for Google — a tax break that would save the company tens of millions of dollars. In an attempt to qualify for this multi-million dollar tax break, Comcast has gone so far as to develop a service that virtually no customers will actually use: it is wildly expensive, and it is only available to a select number of Oregonians.
Thankfully, the Oregon Department of Revenue rejected Comcast’s application for the tax break. Comcast has since appealed, and is currently awaiting the Department of Revenue’s final decision. If Comcast’s appeal is successful, Oregonians will lose out on tens of millions of dollars in tax revenue — revenue sorely needed by our schools, public safety, and social services.
The thing is, Comcast doesn’t need any more tax breaks. The company made more than $8 billion in profits last year and CEO Brian Roberts received more than $100 million in compensation over the past three years. And that’s on top of the tens of millions of dollars he gets from dividends on his Comcast stock.
And the company has already cut its tax bill by millions. Comcast saved more money trading tax credits in Oregon than almost any other company, and it reduced its Oregon tax bills by more than $28 million by buying discounted Business Energy Tax Credit. Comcast even has subsidiaries in Bermuda, the Cayman Islands, and the Netherlands, all notorious tax havens.
Comcast can afford to pay its taxes. And Oregon shouldn’t be giving them another tax break. Click here to add your name to the growing list of Oregonians who are sending a message to Oregon’s Department of Revenue: Stop the Comcast Con!