Monday, February 07, 2005

Trickle Down, Part II

Taking a page from the Bush Administration, Governor Bob Taft is set to propose a massive cut in the personal income tax and corporate taxes as well as an increase on sin taxes and a revenue tax on all areas of businesses in the state. Details are limited, but the Enquirer article does outline the basics: Cut personal income taxes:
Cut individual income tax rates across the board. The primary goal would be to reduce the top rate from 7.5 percent to 6 percent or less.
This is from Saturday’s business section, so I don't know if that is glee or not with the mention of the primary goal being the cutting taxes for the richest Ohioans.

Lawmakers are now scrambling over Taft's latest folly. How will they balance the budget? Where is the money going to come from? Once again a lawmaker, most of often a Republican, is deciding the price before he is sure what he is selling. Figure out what you want to spend it on and how much that will cost, then figure out how you will raise that revenue to get that level of funds. Instead, Taft will toil about cutting this, streamlining that, but will not tell anyone how this will help fund education or provide medical services to the poor. He will not show us how he will generate jobs, other than allow corporations to make more money and then take their service centers to India, Manufacturing centers to China, and pass every cost increase on to the customer and employee, giving the shareholder every once of immediate profit, caring not for the long term gain of all.

Yep, same old trickle down. Give to the rich and pray they will pass it along. Faith based economic was the type of drivel I expect from Bushco, not a reasonable Republican like Bob Taft.

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