Friday, January 08, 2010

Ohio business tax climate, fail

Like Jews during the Exodus, wealth and jobs have been fleeing the state under the rule of Pharaohs Voinovich, Taft and Strickland............

Ohio lawmakers recently reached a last-minute deal to close the state's $851 million budget shortfall by delaying a scheduled 4.2 percent income tax cut. As many lawmakers acknowledged, the deal was just a band-aid solution and avoids addressing the more structural issues facing the state's finances.

At the heart of Ohio's fiscal problems is a tax system and business climate that has been driving people out of the state for more than 15 years, resulting in a shrinking economy and a smaller tax base. At the same time, state government spending grew unchecked, resulting in a heavier tax burden on the state's remaining citizens. Ohio taxpayers now have one of the highest tax burdens in the nation.

The key to reversing these trends and improving the long-term fiscal health of the state is a sensible reform of the state's tax system.

15 Years of Taxpayer Flight
For more than 15 years, Ohio has seen more taxpayers leave the state than move into it. Chart 1, based on Tax Foundation analysis of IRS migration data, shows the net loss of taxpayers (or tax returns)[1] to other states between 1993 and 2008.

You what Ohio needs right now? A tax increase. Isn't that the cure all for all communities woes?



1 comment:

Anonymous said...

Using the health care arguement, govt is supposed to do things at lower cost than the private sector. Why must they then continue to charge higher taxes the planned. One just has to be an idiot to think government is the solution to anythinng.

Unemployment up another 85k jobs today. Government stimulus at work. Thanks for all your help libs.