Heard anything about it? Neither have I. It seems as if Governor Taft, who’s been a pretty run of the mill governor overall, and I’m even giving him marks for being Republican, has a plan. Of course, we all know its the plan that was pretty much fed to him by his economists, because none of these folks really comes up with these things themselves. Who is it exactly that decides that shepherds should receive a 1.7% tax break anyway? Is there some Shepherd Control that cam be reached to divine the interests of this vital voting bloc? Has anyone run a poll, because those things are always fun to read.
Taken from Jobs for Ohio - Tax Reform
5.3 million Ohio taxpayers will see a personal income tax cut.
this is good
550,000 low-income Ohioans will have their income tax burden eliminated.
why isn’t this number higher? because there’s already 5,000,000 Ohioans who don’t pay tax anyway, this puts it at around 5,550,000. nifty
300,000 small Ohio business owners who pay taxes through the personal income tax will see their tax rate cut by 21 percent - bringing the top rate to 5.9 percent.
not exactly ideal, i’d like it at around 5.5% or less. small business is the heart of a small community such as ours and should not be heavily burdened by the state
13,000 Ohio businesses will no longer pay the machinery and equipment tax. This tax penalizes capital investments and expansion, and particularly affects Ohio's manufacturers, who directly or indirectly employ half of all Ohioans.
a nice step, but not an incredibly huge help, sounds good on paper, but that’s just about it
40,000 Ohio businesses will no longer pay the manufacturers' and retailers' inventory tax.
ideally, this will directly lead to lower prices in stores, because the tax burden will be lower
250,000 small and emerging Ohio businesses will pay only the $100 minimum fee of the new Commercial Activity Tax.
this is a useless tax and should be done away with
$555 - The amount an average Ohio family of four will see their state personal income and sales tax burden reduced annually.
what the heck is an “average Ohio family”? I thought I had one and I didn’t pay that much in taxes last year
Another rather cool point…
Reduce today's sales tax rate from six percent to 5.5 percent, effective July 1, 2005.
This totally rocks, any reduction in tax is a good reduction in tax, especially across the board like this one. perhaps the village would consider instituting a 0.5% sales tax here in town to replace it. we as consumers would never notice the difference and I guarantee that other towns in Ohio would consider the same thing if this issue passes
And now the downside
Increase the cigarette tax by 45 cents, bringing the per-pack tax to $1.
Increase tax on other tobacco products from 17 percent to 30 percent.
Double the tax on alcoholic beverages.
I don’t drink. I don’t smoke. I think these three taxes are just about the most unfair things in the tax system. The original logic of “sin taxes” was to get people to quit. Noble cause mind you, but absolutely horrible in the follow-through. Why don’t we take 2% milk and put a $1.00 tax on it? More people drink milk than smoke cigarettes and we’d make a whole bunch more revenue on it. How about Pepsi (because I’m a Coke man)? Tax that 20 oz. bottle 35 cents. Taste of a new generation my eye.
Ahh well, one can never be happy with a tax code I guess. Maybe they’ll change it a bit before it hits the governor’s desk. At least we’ll be paying less overall next year, and maybe it will help change a few things around the state. You never know.