Update 1/7/17 Columbus Dispatch
The
latest report on [Ohio] state tax revenue is another sobering
reminder that, despite Ohio’s relatively low unemployment rate and
a few other positive indicators, the overall economy has struggles.
State
income-tax revenue in December came in below the estimate, making it
the fifth-straight month that revenue missed its mark. Meanwhile,
non-auto sales-tax revenue barely surpassed its projection, the first
time it has done so in the first six months of this fiscal year,
which began July 1. [2016]
Ohio
Governor Kasich and his captive legislature fell for one of the
oldest scams in political economics. Reduce taxes and total tax
revenue will increase as a result of increasing business activity.
Everybody loves a tax cut!
Even
by starving local governments and school districts, state revenues
haven't kept up with even minimal state budget needs.
From
an article from the 1/1
Dayton Daily News: “Kasich warns of a recession” followed
by “Ohio's lackluster economic performance”.
In
the same edition another indicator of slowing economic conditions is
the near zero population growth for the state.
Paul
Hunter paulhunter45177@gmail.com
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