Finally, to restate what number-six said: A few stupid quick numbers $300K filing jointly with federal tax and multiple child deductions ($5K), home and school interest deductions ($18K), and non-juiced charity I can only assume since you have such rigid moral fiber you tithe your full 10% (plus one for good measue $33K) …
Your taxable income would be $244K so you would pay $4,074 + 9% over $50K --REGARDLESS of 66!--
Lets say you are totally dumb and pay on all $300K
Before 66 (see above): $26K
After 66 ($24,537+ 10.8% on 50K): $30K
You will pay $4K more, and if your accountant cant figure out a way to reduce that $4K cause it is going to drive you into bankruptcy (like college savings plan or health saving or deferred retirement or small business selling stuff on ebay) Really just leave. Perhaps California. Some say their taxes are less… I heard... no really leave.
Oregon has real systemic problems, but its minimum business tax rate is not one of them and not why businesses stay away (WA has a higher gross receipts tax and a sales tax, CA has higher all taxes).
I will give you:
1) Fix PERS (no it is still not whole what ails PERS is exactly the same thing that is killing ALL retirement system compounded by the employer only putting IOU's in these personal retirement accounts (read ponzi or madoff)
2) Fix K12 education where the people spending the money are not connected to the ones footing the bill (local district vs. state coffers)
3) clean up the tax structure (Everyone should pay their fair share and grandma should not lose the family home in the perl because her taxes are more than her SS check)
4) Fix the referendum system (but of course this would require that Salem does its job)
4.1) Fix the initiative system so that they cant be unfunded.
4.2) Stop being one of 5 states that spend more on prisons than on College (thanks Mannix )
just to start