Ohio shows why a GOP tax plan tilted toward the wealthy will fail to move the needle on jobs: Caitlin Johnson (Opinion)
Posted November 08, 2017 in Op-Eds
CLEVELAND -- Congressional Republicans are pushing a tax plan that adds $1.5 trillion to the federal deficit and sets up deep cuts to programs that keep Americans healthy, feed hungry children and help hardworking students afford college.
"Trust us," they say, "this will create jobs and pay for itself!"
In Ohio, we know better.
Since 2005, state policymakers have tilted our tax code towards the wealthy and powerful. They repealed the estate tax and corporate income tax. They created the pass-through loophole for business income, costing Ohio $1 billion a year. They cut income tax rates so the top rate fell from 7.5 percent to less than 5 percent.