According
to a Dayton Daily News article, Ohio State Senator Bill
Coley is
proposing that Ohio's income tax be changed from a graduated (multi
bracket) system to a flat tax. The Senator states that the tax would
be tax revenue neutral.
If
the tax revenue remains the same and the average household pays more
what has to take place? You guessed it.
Proposed:
$60,000
household income no dependent deductions allowed X 3.5% = $2,100
$600,000
income X 3.5% = $21,000
If
Ohio tax base is $10,00 tax is $350
Present:
$60,000
household income four dependents = $1,290
$600,000
income $27,555.
If
Ohio tax base is below $10,000 tax, is $0
Posted
by Paul Hunter paulhunter45177@gmail.com
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