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Rich Ohioans would lose most under Strickland’s plan to freeze tax cut
TweetCOLUMBUS, Ohio (AP) — An analysis indicates that the wealthiest Ohioans would account for most of the money Gov. Ted Strickland hopes to raise by freezing a planned income tax cut.
A review of state Department of Taxation records by The Dispatch newspaper finds that Ohioans earning more than $200,000 a year would provide 40 percent of the revenue.
The analysis shows that Ohioans earning between $100,000 and $200,000 annually would contribute another 20 percent of the $844 million Strickland hopes to raise.
The majority of Ohio taxpayers, those earning between $20,000 and $80,000 a year, would lose an average of $44 they would have saved if the freeze is approved.
Strickland has proposed freezing income tax cuts for two years to fund education in the wake of a court decision that halted his plan to put lottery slot machines at racetracks.
Comments
I hope someone has done a sensitivity analysis to see what effect higher than expected taxes will have on the business investment Ohio needs to create jobs .
Keep the tax cuts coming. Gov Stricknine is killing the citizens of Ohio with his lousey tax planning. First he proposes Keno that hasn't yielded anything, then he proposes slots that need approval of the people which he won't get, now he wants to stop the tax cuts. We have had enough of him and his liberal agenda. Time to layoff state & local government employees, and cut their pay & benefits including all the wasted money on ineffective school systems like Youngstown, Warren, and Cleveland. They are all over paid and under utilized. Time to go Teddy boy. We don't want you as Gov of Ohio anymore.