Policy Matters Ohio - June 26, 2012
Illogical – Ohio’s unemployment compensation trust fund is chronically underfunded because employer taxes have not kept pace with needs. This means that taxpayer funds are being used to pay interest on debt, according to our recent statement. The money Ohio is diverting in this way would be better used to meet critical needs of schools and local governments that have suffered deep cuts under the current budget. It’s illogical, and bad policy, for the state to be forking over tens of millions of dollars in interest charges.
Unaffordable – Low- and middle-income Ohioans would pay more in taxes under Congressional Republicans’ approach to extending the Bush tax cuts than they would under President Obama’s proposal, according to a new comparison by Citizens for Tax Justice. The GOP also wants to give more cuts to the wealthiest 1 percent than Obama does. Unfortunately, both want “to extend far too many of these unaffordable tax cuts,” says CTJ’s director.