"A Springfield News-Sun survey of more than 20 localities found they expect to lose more than $28 million this year compared to what they received in 2009 because of cuts in state aid and the phasing out of three taxes.

As a result, Springfield has cut 32 positions in recent years; Trotwood has furloughed workers; Troy cut back of street resurfacing; and Kettering delayed capital improvement projects, dipping into its reserves to fund the projects it deems a priority."

 

http://www.springfieldnewssun.com/news/news/state-cuts-cost-local-governments-millions/nZRHX/

We will see if the trickle down theory holds true.  By eliminating tax burdens and making the state more 'business friendly', revenue should rise and these losses will be more than offset so services can return better than before.

LOL, yeah, maybe this time it will work....

hey, Rocky, wanna see me pull a rabbit out of my hat?

What business tax did they eliminate? I thought it was the estate tax.

LOL, yeah, maybe this time it will work....

hey, Rocky, wanna see me pull a rabbit out of my hat?

 

Again?

 

*economic monster rages out*

 

Now here's something we hope will really work... wait what are you doing?

 

*long hook comes out and pulls Rocky off stage*

What business tax did they eliminate? I thought it was the estate tax.

 

The article seem to be citing the tax reforms of 2005, which have been completely phased out for years now.

We will see if the trickle down theory holds true.  By eliminating tax burdens and making the state more 'business friendly', revenue should rise and these losses will be more than offset so services can return better than before.

 

Looks like we're going to be facing more local tax burden to pay for services as a result of the changes at the state level.  I'd really be interested to see if there is a net lessening of the "tax burden," or if we are really just shifting who the taxes are going to.

Yes, slowly over the course of 2005-2010, inventory tax, manufacturing machinery/equipment property tax and furniture/fixtures property tax were reduced then eliminated. Also, corporate franchise did the same and individual income taxes were reduced by 21% over the course of the period. But, the CAT (commercial activity tax) was initialized. It only applies to businesses with over $150,000 in revenue and if revenues are under $1M it is a flat $150.

 

Of course these tax cuts have nothing to do with Kasich; he was working for Lehman Brothers and as a talking head then.

We will see if the trickle down theory holds true.  By eliminating tax burdens and making the state more 'business friendly', revenue should rise and these losses will be more than offset so services can return better than before.

 

Looks like we're going to be facing more local tax burden to pay for services as a result of the changes at the state level.  I'd really be interested to see if there is a net lessening of the "tax burden," or if we are really just shifting who the taxes are going to.

 

I think the upcoming Governor's race will feature both sides trying to illuminate this point...  look for some Politifact articles to find the truth somewhere in between