Thursday, February 10, 2011

No need to raise taxes to balance the State of Ohio budget...

There is a movement among Athens County "Friends" to pledge part of their incomes to increased taxes.

These (well meaning) but uninformed citizens think the guvmint will actually spend our money the way we want it spent. Gubmint is busy stealing from your retirement right now!

We don't need higher income taxes to balance the budget. We need choices. Heck, right now I can take the state budget, end up with a surplus and not take one cent from education or social services.

My score from the C-bus Dispatch online State Budget APP:

* State sales tax: Increase sales tax rate to 7% (raises $3.9 billion)
* State income tax: Cut income taxes by 5% to help Ohioans (costs $800 million)
* 'Pop' tax: One cent per ounce (raises $800 million)
* Exemptions: End sales-tax break for packaging and packaging equipment (raises $460 million)
* Exemptions: End sales-tax exemption for mining and farming equipment (raises $300 million)
* Exemptions: End sales-tax exemption for equipment sold to electricity providers (raises $650 million)

* No spending cuts were made.

Sell or lease state assets
* Sell state lottery to private operator (raises $5 billion, but ends lottery revenue)
* Sell some state buildings, then lease them back (raises $800 million, but requires future rent payments)

Your budget results
* You have a budget surplus of $3.11 billion.

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