By Nicholas Sweeney (Contact)
To be delivered to: The Oregon State House, The Oregon State Senate, and Governor John Kitzhaber
It has been estimated that 30-40% of the money we pay for goods goes to interest, which goes directly to banks. With a publicly owned bank, the interest would go to the State of Oregon, creating more funding for services like roads and schools and opening the possibility of lowering property taxes and/or state income taxes. The publicly owned bank model has proved effective in North Dakota, the only state to escape the 2008 banking crisis, with sizable budget surpluses every year since then.
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