The Chamber's agenda follows the same theory as trickle-down economics: keep taxes low at the top and prosperity spreads to everyone. That idea has been tested for 50 years.
New or increased taxes are unpopular with voters and will only dig our region into a deeper hole.
strongly opposed to any further tax increases
tax avoidance is a primary driver for those leaving the county.
Share of U.S. pre-tax income going to the top 1%
Top 1% share of pre-tax income including capital gains (Piketty–Saez series, from 1913). 2021 set the record (23.6% in 2022), above the peak on the eve of the Great Depression. Source: Emmanuel Saez, UC Berkeley, 2024 update. The top 1% also holds 32.5% of U.S. wealth, the most since Fed tracking began in 1989 (Federal Reserve). In Oregon, the top 1% took about 14% of income in 2023, nearly as much as the bottom half (Oregon Center for Public Policy, from state revenue data, source).50 years, 18 countries. Major tax cuts for the rich raised the top 1%'s share of income, with no significant effect on growth or unemployment. London School of Economics
Since 1945 in the U.S. Lower top tax rates tracked with income concentration, not growth. Congressional Research Service
Kansas, 2012. Deep cuts didn't beat neighboring states' growth; schools and roads were cut, and a Republican legislature reversed most of the cuts in 2017. Brookings
The 2017 federal tax cut. Gains went mostly to owners and top earners. Wages rose about $750 per worker, against $4,000 or more promised. Investment rose (about 11% at exposed firms), but typical workers saw little. AEA · Harvard Gazette
"Portland has lost approximately $1 billion in taxable income annually since 2020."
2026 regional policy agendaMultnomah households earning $500,000 or more went from about 2,500 in 2019 to about 7,700 in 2024 (Census survey data; small samples). Portland State University
Oregon was the top state for inbound moves in 2025, and nearly half of new arrivals reported incomes of $150,000 or more (one moving company's data). Oregon Capital Chronicle
That's the share of Preschool for All families who say they're satisfied or highly satisfied, in a survey by the county's outside research partners. Multnomah County
And people still want to be here. Condé Nast Traveler readers ranked Portland the No. 4 big city in the U.S. (2025), and the New York Times put it on its 52 Places to Go in 2026 (KOIN).
So where did the "lost income" go? An analysis by Councilor Mitch Green's office tied the jump in leavers' income to pandemic-era investment gains seen nationwide, including in Seattle, which has no state income tax (Green's office). Research finds millionaires rarely move for taxes (Tax Policy Center).
The honest caveat. An independent 2026 working paper found some extra departures after Preschool for All, costing about 8.5% of its revenue (the authors' estimate; not yet peer reviewed). Some people left; the revenue effect was modest (Reed College).
To be fair: the Chamber backs some public spending, including the parks levy (Chamber) and, as a top 2026 priority, public money for the Moda Center renovation (Chamber). It doesn't use the words "trickle-down"; that's our description of an agenda built on cutting and capping taxes at the top. Inequality has many causes, and tax policy is one that research ties to it.
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