The mainstream media is jumping up and down with headlines about the kicker Christmas present from the state.
But Oregonians might be kicking themselves rather than kicking their heels in joy if they knew the true cost of the checks.
A recent report from the Oregon Center for Public Policy found:
o Because of cash flow issues, the state will have to borrow money to pay for the kicker checks at an interest cost of about $45 million.
o Mailing the kicker checks will cost about $1 million.
o About 20 percent of the kicker, $214 million of $1.1 billion, will go to D.C. in the form of higher federal income taxes.
o The kicker will go mostly to the wealthy. The top fifth of taxpayers will get nearly two-thirds of the kicker, averaging $2,002, or six times what the typical taxpayer will receive.
o The state may have to slash school, healthcare and other vital services in the future because it didn’t save its surplus kicker money for a rainy day.
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