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Monday, March 15, 2010

Oregon's new taxes spark an entrepreneurial crisis

The Oregonian reports that for a couple of hours, the 75 or so investors, entrepreneurs and elected officials gathered at Portland's World Trade Center.

Eric Pozzo, who manages the Oregon Angel Fund, which screens and invests in startup companies, said potential investors have to ask themselves now, "Why would I choose Oregon with our tax structure?"

Wayne Embree said his seed-stage investment firm was considering leaving the state, depending on the advice he and his partner get from tax experts about the impact of Oregon's new tax structure on his fund's investors.

"These guys," muttered Embree, referring to the proponents of Measures 66 and 67, "have no idea what they've done."

Even political activist Steve Novick, the relentlessly cheerful advocate of Measures 66 and 67, showed a trace of regret last week, writing on BlueOregon: "If there are ways to make some of these folks feel more valued, we should try them out. If we can convince even a few of the few to stay, that's a good thing."

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