The Taft Giveaway

From Policy Matters Ohio

Gov. Bob Taft's proposed changes to the state’s tax structure would give wealthy Ohioans big tax breaks while shifting the cost of public services to the bottom 60 percent of wage earners.

 

The analysis, conducted by Policy Matters Ohio and the Center for Community Solutions, is based on calculations by the Washington D.C.-based Institute on Taxation and Economic Policy.

 

The Hannah News Service reports that when fully phased in, the top one percent of taxpayers would see an average $7,076 reduction in their taxes, or 1.1 percent of their $643,000 average income.

Ohioans earning less than $43,000 per year would see little or no savings under the governor’s plan, with the possibility of tax increases, according to Hannah.

You can read the full report here, with all the facts and figures.