Slam dunk
Kari Chisholm
Watch this video. It'll only take a few seconds, so watch it.
Did you see that? Not a bad dunk. You know how much Chris Dudley made with that dunk?
Just over 22 grand. According to basketball-reference.com, he made $38 million over his career - and scored 3473 points. That's $11,029 a point.
You know how long it takes a minimum-wage employee in Oregon to make $22,058? 2626 hours. That's 65 weeks of forty-hour workweeks. Those are $336 forty-hour workweeks, by the way.
Now, I don't begrudge Chris Dudley the money he made. It seems ridiculous in this context, but hey, that's what they pay NBA players. If somebody wanted to pay me that much money to run around in short pants chasing a ball, I'd do it, too.
But when Chris Dudley says that he thinks the minimum wage is too high -- and that we ought to have a training wage or a tip credit -- well, he's betraying his values. He's just one of those guys that doesn't understand how hard it is in this economy -- in any economy -- for folks to make ends meet.
The minimum wage isn't too high. It's too low. And that's a slam dunk.
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connect with blueoregon
2:20 a.m.
Oct 1, '10
Full disclosure: My firm built John Kitzhaber's campaign website. I speak only for myself.
6:23 a.m.
Oct 3, '10
I hate that now he has flip-flopped on low wage earners and won't even acknowledge that he basically said he did not support our minimum wage.
That was fortunately and respectfully caught on tape, as opposed to the tea party ambushing a church with cameras, lying in a House of God about themselves, being disruptive, and not leaving when asked to.
8:09 a.m.
Oct 3, '10
Kari:
While you have your calculator handy, how about telling us how much state income tax Chris Dudley personally poured into Salem's coffers?
And while you're at it, do Kitzhaber, too.
9:07 a.m.
Oct 3, '10
It would be nice if Dudley would just release his tax records like Kitzhaber has offered to.
8:42 p.m.
Oct 3, '10
State income tax is 9%. for amounts over $250 it's 10% over $500K it's 11%. Who cares how much he paid. He made millions off Oregon.
Maybe you should pull out your calcualtor and figure out how much in taxes day traders and companies like Dudley's Filigree Advisors could avoid with his cap gains cuts. Unfortunately you wouldn't need a caluclator to figure how many jobs come from that because everyone knows 0x0=0.
But just for fun let's make up a scenario.
Let's say that I'm a school teacher with $50k in taxable income. My state income tax would be about $4500. How much taxable income would I have to make as a day trader to pay the same tax? about $150k
Care to have a discussion about transfer of wealth?
3:29 p.m.
Oct 4, '10
Day trading profits are short term capital gains and as such, taxed as regular income. The Dudley plan would cover long term cap gains(unless you can document otherwise).
So, to answer your question, you would need $50K in day trading income to pay the same as a teacher making $50K.
9:40 a.m.
Oct 4, '10
He paid a lower percentage of his incopme in Oregon taxes than you or I did.
3:27 p.m.
Oct 4, '10
Especially since only half of his OR income was taxable in OR.
7:43 p.m.
Oct 4, '10
Actually, Michael, all of his Oregon basketball income was taxable in Oregon.
However, because he moved to Washington, his income from investments was not taxable in Oregon. Because he's refused to release his tax records from that period, we don't know how much he saved by that slick little move.
10:29 a.m.
Oct 5, '10
I should have said b/c only half of his income was taxable in OR.
we don't know how much he saved by that slick little move.
I am guessing a lot less than Kitz mortgage lender Bidwell saved when he sold his company to Ameritrade.
9:58 a.m.
Oct 3, '10
Kari - you're more understanding than I am. Personally, I feel the salaries athletes, entertainers, athletic directors/coaches at schools (while tuition sky rockets) get is beyond obscene...but good comparisons.
3:04 p.m.
Oct 4, '10
Kitzhaber said: "No comment," when asked to respond to a question about the Dudley income tax issue during the KGW debate.
Having covered a number of elections as a journalist, the only conclusions I can come to is that 1) Kitzhaber doesn't see it as much of an issue, or 2) is ignoring it because it's a stretch. He's hammered Dudely on the minimum wage comments, but has left the income tax issue alone for the most part.
I'm curious to know what others think about that?
3:32 p.m.
Oct 4, '10
Jerry Bidwell, when appointed to the OIC by Kitz, had a business in Portland and lived in Camas. The Camas tax dodge didn't bother Kitz then, why should it now?
http://blogs.wweek.com/news/2010/09/24/chris-dudley-not-the-only-one-time-camas-tax-refugee-in-the-news/
7:45 p.m.
Oct 4, '10
Was he a long-term resident of Washington who also happened to have a business in Oregon, or did he start his business in Portland, then move to Washington on advice of his accountant in order to avoid paying more in taxes?
11:44 p.m.
Oct 6, '10
he was a member on the OIC and he didn't even live in Oregon? People! Tell me with a straight face that this wasn't political payback for his interest (whenever you want to pay it) and term of whenever you feel like it 'mortgage loan" ... If it was a mortgage loan like Taxhiker claimed to the IRS and ODR then it wasn't a margin loan ...period! But the person he appoints to the OREGON Investment Council who happened to be the same guy who butter nosed his deal for him ALSO does not even live in the state ... lol I will tell you how I spell liberal hypocrisy B R I B E lol would you people wake up?
12:18 p.m.
Oct 5, '10
No, it is 3) that going negative like that in the debate would have come across as petty mudlsining. As Dudley proved when he didn't pass and tried to attack Kitzhaber over the mortgage loan nontreversy.