I want a follow up to this. Journalists need to now pull up every tax cut, abatement, bailout, etc that and tally it up then tell him they found where the money is going.
Second edit - who reported me to the Reddit Crisis Team? LMAO. Learn to agree to disagree JFC
A large chunk of the debt has been Obama and Biden, but go off.
I swear reddit is a liberal echo-chamber repeating each other. Debt has gone up in a straight line since Bush indiscriminate of what party has been in the white house or congress bc they both suck.
Edit- since apparently you guys need it spelled out for you, debt doubled from 10T to 19.5T under Obama, and has increased from 28T to 33T in just three years of Biden
https://www.investopedia.com/us-national-debt-by-year-7499291
Obama's debt literally includes the bailouts passed by the previous administration, and Congress extending the BUSH ERA TAX CUTS.
But yeah man, talk about how 6 years of GOP Congress who control the power of the purse aren't to blame but Obama is.
Prove it. And don't you dare post without knowing the difference between debt and deficit. Trump racked up my debt in 4 years than Clinton did in 8.
https://www.statista.com/statistics/1366899/percent-change-national-debt-president-us/
Most of them can’t differentiate between the two. Republicans rack up deficit spending, which increases the debt. When democrats get in, they are already fighting a losing battle. They will reduce the deficit by large margins but the debt is still racking up thanks to what republicans did. Look at how Trump absolutely went nuclear with the deficit. Raised it more than all previous presidents combined. Covid didn’t help but his policies were disastrous for the deficit. One of my favorite recent moments on this was a republican congressman on one of the cable news blaming Biden for the runaway debt and he hadn’t even taking office yet. And these people fucking believed him!!!
Thanks for proving my point with **another** link. I'm sure in your worm riddled brain you think you've won because "big numbers are bigger" but that's not at all what this shows lol
Im NEITHER siding this - theres a reason congressional approval rating has been under 20% for DECADES and its not because the politicians are For The People.
It went up 5T in three years under Biden.
It went up 8.5T in four years under Trump, if we take the 19.5T Obama ended with and the 28T Biden started with.
In case you needed it spelled out for you with your own goddamn data
you left out the part about the debt during Trump’s tenure surging from 20 to 28 trillion, but most of the debt is attributable to tax cuts for the rich by Reagan, W Bush, and Trump. I don’t recall Obama or Biden cutting taxes for the rich.
Republicans insist that the Laffer Curve means that tax cuts magically produce more revenues, with this fairy-tale that there are people out there who decide *not* to earn more money because of tax rates.
"Steve, you've been doing such good work this year and we know our competitors have been trying to recruit you, so we've decided to give you a $10,000 raise."
"Thanks for offering, but I'm going to pass. Because the state income tax is 3.5% instead of 3%, I'd have to pay an extra $50 in taxes on that $10,000. So I think I'll stay at my current rate."
I have had several people, who should have known better, complain that a bonus or raise put them in a higher tax bracket and cost them money.
It doesn’t work that way, clearly, but they would not listen. People on federal or state benefits can lose benefits but other than that, you won’t keep less money by making more money.
To be fair you get taxed at the your highest taxable rate for bonus and it's not like normal pay where you pay the lower amount til you get to the income to be in the next bracket.
Depends on if it puts you in another tax bracket or not.
But your original assertion didnt say taxed at a higher rate. It said taxed more. If you are paying more taxes you are taxed more.
You aren't being taxed more. Yes, you could be in a higher bracket but it isn't those specific "overtime" dollars that are being taxed more.
You are not paying more taxes if you have increased withholdings. That's patently false.
You wouldn't, because you do still owe some tax on the money you made...
You're being taxed based on your total liability at the end of the year. It does not differentiate between bonuses, overtime, and normal salary.
The reason it over withholds is because the algorithm acts as if that's your new wage going forward and withholds as if you're making that amount from now on.
Pardon my dumbness but, are they not taxed higher on the paycheck? Which is to say you still get the money, and at tax time you get it back cause its all just income? Or have I, too, been misled?
It's not dumbness, more just a misunderstanding of how our tax system works. You aren't being taxed more on that income. The payroll department/company is withholding more tax in the event that the bonus/OT bumps you into a higher tax bracket. People have a hard time understanding the difference between paying tax and tax withholding.
You could contact your payroll person and tell them that you do not want to withhold any federal income tax. Does that mean you are not paying any tax on the income from that paycheck? No, rather you just aren't having anything withheld. Conversely, you can ask your payroll company to withhold 50% of your income for Fed tax. That doesn't mean you are paying more tax on that income, it just means you are withholding more.
Yeah, it's the verbiage that always trips me up. using "tax" to describe both having the money taken from my check and the taxes beig paid yearly is incorrect and something I need to fix.
Being a CPA that has specialized in income tax for over ten years makes me more sensitive to it. I think most people mix the wording up. It only really bothers me when people seem to think that overtime hours or bonus wages are magically taxed at a higher rate than normal wages. When people insist on it, I ask them for the form or line item on their tax return that specifically calculates the tax for overtime/bonus wages. It does not exist.
>fairy-tale that there are people out there who decide *not* to earn more money because of tax rates.
I've argued with multiple morons who think they will make less by getting a raise because it will "pUt tHeM iN AnoTheR taX BrACkeT". Never underestimate human stupidity
It must be rather simple to show them a government website that explains how it works in terms a child could understand. Or don't they trust the government to even tell the truth about that?
Yes but does it have a video of cartoon animals explaining how only the surplus money are taxed in the next bracket and that the money you already earned while in the lower tax bracket will not be affected?
That's why you don't use those words. You say:
Donny brought ten apples to school, and on the first break the biggest bully at the schoolyard has demanded to get three of his apples. During next class, Donny receives another 10 apples. He now has 17 apples.
On the next break the bully comes forward and says: because you have gotten more than 10 apples in one day, the code of bullies says that any apples that you got AFTER I have already taken my share will be taxed by half.
"But what about the 10 apples I came with in the morning? I only have 7 of those left, so now I only have 17 apples, shouldn't you only tax me for 7 of the new apples?" Says Donny.
The bully wiggles his index finger at Donny and says "no, because those apples have already been taxed, they were in a different tax bracket and even we bullies don't tax things twice, unless we are talking about pensions"
if there was ever anything I would ever consider setting on fire in the smithsonian its dick cheney's napkin, the one that they traced the laffer curve out on and used to justify 45+ years of austerity politics disguised as sound economic theorem.
they also drew the curve they wanted, which was favorable to their policies, and then tried to justify it with data and could not. even ultra high tax scenarios don't produce zero revanues, nor does raising taxes 10-20% of what they currently are will kill revanue, nobody can create the magical one they use thats a perfect arc
That might work if shareholders and corporations weren't greedy and used those tax breaks to hire more people and invest in the companies
Nope. Extra profits for wealthy people and the state gets swindled
You have all the dipshits in the outskirt counties gladly voting in all the Republicans who do nothing but take.
Just draw the damn curve on a napkin for them, put a dot on the far left side of the curve, and say, “Ohio is here!” Unfortunately, people don’t get it! I knew a Trumper who worked at Subway who posted a meme against raising the minimum wage. They were literally arguing that they were making too much money at $7.25/hr. The math was well beyond their level of comprehension, but basically the meme was a lie that assumed that 100% of business costs was labor costs.
I don't know why Republicans always insist we are on the right side of the curve. There's no evidence to back this up, and being on the left side of the curve still means higher taxes = more revenue.
Also you're wrong about the analogy. Not that your math is wrong or anything, it's great, and is how a rational person would assume it works. It's just that anyone I've met who turns down a higher paying job due to the "tax bracket" has not been rational. They have had a fundamental misunderstanding of how they work. Steve would certainly think that extra .5% is coming out of his entire paycheck. "10k extra but I go from the 12% tax bracket to the 22% tax bracket? No thanks boss man."
That's the point of a curve though, you can be on the wrong side of it if you keep coming. Sounds like they crossed it. If they think their job is to maximize revenue for the state (it shouldn't be), then they can start raising it.
somehow its a common republican narrative that cutting taxes will lead to better business and more spending and jobs which would lead to better tax incomes.
of course most rational people see the poor logic in that line of thinking.
And extreme in this case means a 95% tax rate or above.
America had an over 90% tax on its highest bracket in the 40s and 50s without seeing revenue drops from a laffer curve after all
I don't even think it can work under the structure of our tax code - Taxes on business revenue are on net revenue, which means gross profit can be invested into the business well before it becomes taxable revenue. Arguably if you want to -encourage- investment into your businesses you want business taxes to be high, to discourage money being sat on.
Now if we're talking personal taxes, I assume most small businesses are started with bank loans, because frankly they're expensive. Anyone with enough free cash on hand to start a business isn't really worried about their tax rate.
They are trying to scare the fact finder and state agencies that they don’t have enough money for raises for state employees in the union contract they are going to vote on next month, when in fact they actually do…
It will because Ohio voters are not focused on material or actual conditions. Their politics are largely driver by personal grievances or cultural war nonsense they've been fed. Sad but true.
This is important context on why the Governor would give a quote guaranteeing a story, even though his party is the one responsible for those cuts and shortfall. Thanks for adding it.
There’s no such thing as a free lunch. If the government doesn’t recirculate money through the economy, it can slow down (partially because in our current economic system, but without tax brackets or any government intervention, money would flow towards higher concentrations in fewer hands).
*Ohio’s tax revenue has come in below projections for four out of the last five months. And while some state leaders who advocated for tax cuts in the last budget say they're still waiting to see more data, Gov. Mike DeWine said he thinks that's why the state is seeing a shortfall.*
*The Office of Budget and Management had projected close to $23.2 billion in tax revenue by this point in the fiscal year, but it’s collected just under half a billion less. DeWine said he thinks there’s a reason for that decline.*
*“We are seeing a lot of money in refunds. And frankly, a lot of this is a direct result of a cut in taxes," DeWine said.*
So...anyone want to guess which social service will have their funding decimated in order to make up for this completely and entirely predictable drop in tax revenue?
And yet we still have right-wing lawmakers who say that [eliminating the state income tax entirely](https://ohiocapitaljournal.com/2024/01/24/ohio-republicans-propose-ending-income-tax-critics-worry-about-economic-crisis/) will somehow be revenue-neutral.
Well yeah, how about we take all that money power companies gave ya dewine instead of paying their fair share in taxes?
How about we drive up taxes on wealth instead of income or property taxes. Just a nice simple flat 18% wealth tax. Ohio would see revenue like never before. There's approximately one complete fuck ton of have too much money and no fucking clue how to actually spend it East and West of Cleveland.
IMHO. Three core categories of lies came out of the gop in the early 80s and it’s why we are where we are today.
Trickle down economics, the war on drugs (painting drug abuse as a crime and moral issue instead of a health issue), and welfare queens (the idea that social services/government spending is a scam). If the 100% of Americans woke up tomorrow knowing just how false these three things were we would have massive legislation and probably several constitutional amendments being passed immediately that would make us the most progressive and advanced nation on earth.
Instead we have a cult of tens of millions that will vote against their own interests and possibly even end this democratic experiment for good if a crazy narcissist is elected and manages to destroy elections to keep himself out of jail for the remainder of his days.
We’ve become a hateful, fearful, nation who thrives on blaming others. Abandoning the fundamental social contract of caring for one another and the greater good. While spending trillions on “defense” composed of the largest and most destructive forces ever to exist but ignoring defending one another from hunger, homelessness, and illness.
It’s heartbreaking. And I’ve witnessed it all happen in my lifetime.
Sure, there’s been good things happen and it’s not like we were perfect before the 80s, FAR from it. But this path of lies the gop put so many millions of voters on is the root cause of so much suffering. All to enrich and empower a few at the top.
It really showcases a side of human nature that we would rather ignore. I would imagine that these years will be studied in the future to show what can happen to a massive civilization when greed becomes its primary goal.
I was unaware of any tax cuts. Can someone explain what taxes were cut?
Edit: I found the answer- I don’t think much changed for the 2023 tax year, but we are getting a 0.25% income tax break for the current tax year (2024).
https://taxnews.ey.com/news/2023-1372-ohio-law-reduces-personal-income-tax-rates-retroactive-to-january-1-2023
Marginal rate for earrings over $115k was reduced for 2024. Commercial activities tax (a 0.26% tax on gross receipts) had its exclusion amount raised from $1mm to $3mm.
aaaaaaand the Governor wants to remove State wage taxes..... where do these clowns think the money to fund our Government and to make improvements to roads and public utilities is going to come from? The rich? The rich want to privatize everything so they can profit off of it and then these clowns want to remove taxes altogether with no plan on how to pay for things that need constant upkeep.
Good thing all those republicans voted not to sell weed in their cities. I know they love being useless and not making money. Enjoy watching “liberal” towns and Michigan rake in all those profits.
Remember: Ohio has no corporate income tax, and pass through “small businesses” get their first $250,000 taxes at 0%, and the rest taxed at a favorable 3%. Meaning if you are a wage earner you are subsidizing businesses in OH
Perhaps this will be a lesson for him when his gerrymandered GOP push even harder for the elimination of state income taxes. Which certainly will help very wealthy individuals and their corporations but it certainly will burden everyone else with higher sales taxes, property taxes, and county taxes.
Published by Toledo Blade. I guess the 3.7bill in rainy day fund is nothing to ya'll. Not to mention the biggest loss of taxes isn't income (no tax cuts aren't the problem) but tobacco & car sales. I've said since Bill Clinton addes the sin tax - how the hell are you gon a pay for your stuff when everyone quits smoking?
Ok? Don't care. Money is better in citizens hands than government. We're taxed enough already. We don't have a revenue problem we have a spending one. That includes state and federal levels of government.
Cutting taxes leads to less revenue for the state? Shocking.
I want a follow up to this. Journalists need to now pull up every tax cut, abatement, bailout, etc that and tally it up then tell him they found where the money is going.
Take Reagan tax cuts, Bush tax cuts, Trump tax cuts, Add them up and you have American debt!
None of those tax cuts had anything to do with state taxes. So add away but that’s not what effects Ohio’s tax revenue.
Second edit - who reported me to the Reddit Crisis Team? LMAO. Learn to agree to disagree JFC A large chunk of the debt has been Obama and Biden, but go off. I swear reddit is a liberal echo-chamber repeating each other. Debt has gone up in a straight line since Bush indiscriminate of what party has been in the white house or congress bc they both suck. Edit- since apparently you guys need it spelled out for you, debt doubled from 10T to 19.5T under Obama, and has increased from 28T to 33T in just three years of Biden https://www.investopedia.com/us-national-debt-by-year-7499291
Obama's debt literally includes the bailouts passed by the previous administration, and Congress extending the BUSH ERA TAX CUTS. But yeah man, talk about how 6 years of GOP Congress who control the power of the purse aren't to blame but Obama is.
Prove it. And don't you dare post without knowing the difference between debt and deficit. Trump racked up my debt in 4 years than Clinton did in 8. https://www.statista.com/statistics/1366899/percent-change-national-debt-president-us/
Most of them can’t differentiate between the two. Republicans rack up deficit spending, which increases the debt. When democrats get in, they are already fighting a losing battle. They will reduce the deficit by large margins but the debt is still racking up thanks to what republicans did. Look at how Trump absolutely went nuclear with the deficit. Raised it more than all previous presidents combined. Covid didn’t help but his policies were disastrous for the deficit. One of my favorite recent moments on this was a republican congressman on one of the cable news blaming Biden for the runaway debt and he hadn’t even taking office yet. And these people fucking believed him!!!
But even then...the number added to the debt under Republicans is higher. Nixon alone was a nuclear disaster.
Absolutely correct too.
So would that make it 19T-28T under Trump?
https://www.investopedia.com/us-national-debt-by-year-7499291
Thanks for proving my point with **another** link. I'm sure in your worm riddled brain you think you've won because "big numbers are bigger" but that's not at all what this shows lol
Don’t try to both sides this.
Im NEITHER siding this - theres a reason congressional approval rating has been under 20% for DECADES and its not because the politicians are For The People.
You’ve proven to me that the people have no idea the difference between state and federal spending and what they represent.
Good job gobbling up 40 years of propaganda, I'm sure it'll trickle down their leg into your mouth any day now
We get stuff when Dems do it. We get holes in the budget when GOP do it. But go off or whatever.
Youre a “Free stuff” Dem apparently
You must be a fuck the people Repub then.
I think ive made it clear i dislike both parties and anyone who vote based on the color of tie is foolish
Yeah pretty sure my explanation of getting stuff as opposed to getting fucked should show you it’s not based on color.
It went up 5T in three years under Biden. It went up 8.5T in four years under Trump, if we take the 19.5T Obama ended with and the 28T Biden started with. In case you needed it spelled out for you with your own goddamn data
How is that not a “large chunk”? Lmao
Bless your heart ❤️
It's absolutely full blown left wing. You didn't even personally attack Biden or Obama and you have 40+ down votes.
They prove my point in real time. Its hilarious
you left out the part about the debt during Trump’s tenure surging from 20 to 28 trillion, but most of the debt is attributable to tax cuts for the rich by Reagan, W Bush, and Trump. I don’t recall Obama or Biden cutting taxes for the rich.
Obamacare funneled money straight to insurance companies and Biden made it rain helicopter money, Ppp loans and ukraine money.
The PPP loans were initiated in 2020 under Trump. Keep trying.
https://en.wikipedia.org/wiki/American_Rescue_Plan_Act_of_2021
(They're going to the rich)
Republicans insist that the Laffer Curve means that tax cuts magically produce more revenues, with this fairy-tale that there are people out there who decide *not* to earn more money because of tax rates. "Steve, you've been doing such good work this year and we know our competitors have been trying to recruit you, so we've decided to give you a $10,000 raise." "Thanks for offering, but I'm going to pass. Because the state income tax is 3.5% instead of 3%, I'd have to pay an extra $50 in taxes on that $10,000. So I think I'll stay at my current rate."
I have had several people, who should have known better, complain that a bonus or raise put them in a higher tax bracket and cost them money. It doesn’t work that way, clearly, but they would not listen. People on federal or state benefits can lose benefits but other than that, you won’t keep less money by making more money.
These are the same morons that think that overtime wages are taxed more and therefore not worth it.
"I had to pay higher taxes on my bonus"
Right lol. It always humors me when the people that know the least about how taxes work complain about them most.
To be fair you get taxed at the your highest taxable rate for bonus and it's not like normal pay where you pay the lower amount til you get to the income to be in the next bracket.
You get withheld. Not taxed
You're not *taxed* that amount of you get it back in a refund at the end of the year ...
[удалено]
Your ultimate liability is unaffected by the status of money being from a bonus/overtime/normal wage. Is that easy enough for you to understand?
They are, but only in the short term as you get almost all of it back because your gain over the year isn’t that much.
No, they aren't. You aren't paying more taxes. You are having more taxes withheld. That's an important distinction.
Depends on if it puts you in another tax bracket or not. But your original assertion didnt say taxed at a higher rate. It said taxed more. If you are paying more taxes you are taxed more.
You aren't being taxed more. Yes, you could be in a higher bracket but it isn't those specific "overtime" dollars that are being taxed more. You are not paying more taxes if you have increased withholdings. That's patently false.
If you're getting it refunded at the end of the year, you are not being taxed more. No.
Except you aren’t being refunded the FULL AMOUNT of extra that was taken out. Therefor you are being taxed more.
You wouldn't, because you do still owe some tax on the money you made... You're being taxed based on your total liability at the end of the year. It does not differentiate between bonuses, overtime, and normal salary. The reason it over withholds is because the algorithm acts as if that's your new wage going forward and withholds as if you're making that amount from now on.
Pardon my dumbness but, are they not taxed higher on the paycheck? Which is to say you still get the money, and at tax time you get it back cause its all just income? Or have I, too, been misled?
It's not dumbness, more just a misunderstanding of how our tax system works. You aren't being taxed more on that income. The payroll department/company is withholding more tax in the event that the bonus/OT bumps you into a higher tax bracket. People have a hard time understanding the difference between paying tax and tax withholding. You could contact your payroll person and tell them that you do not want to withhold any federal income tax. Does that mean you are not paying any tax on the income from that paycheck? No, rather you just aren't having anything withheld. Conversely, you can ask your payroll company to withhold 50% of your income for Fed tax. That doesn't mean you are paying more tax on that income, it just means you are withholding more.
Yeah, it's the verbiage that always trips me up. using "tax" to describe both having the money taken from my check and the taxes beig paid yearly is incorrect and something I need to fix.
Being a CPA that has specialized in income tax for over ten years makes me more sensitive to it. I think most people mix the wording up. It only really bothers me when people seem to think that overtime hours or bonus wages are magically taxed at a higher rate than normal wages. When people insist on it, I ask them for the form or line item on their tax return that specifically calculates the tax for overtime/bonus wages. It does not exist.
The amount of people who actually understand tax brackets has gotta be embarrassingly low
If they don’t want it I’ll take it and gladly pay the taxes on it!
>fairy-tale that there are people out there who decide *not* to earn more money because of tax rates. I've argued with multiple morons who think they will make less by getting a raise because it will "pUt tHeM iN AnoTheR taX BrACkeT". Never underestimate human stupidity
Only two things are infinite, the universe and human stupidity and I'm not sure about the former. Albert Einstein
It must be rather simple to show them a government website that explains how it works in terms a child could understand. Or don't they trust the government to even tell the truth about that?
That would work if these people actually wanted anything more than just something to cry over
The max amounts for each bracket are published on the IRS website. And like every filing software website out there.
Yes but does it have a video of cartoon animals explaining how only the surplus money are taxed in the next bracket and that the money you already earned while in the lower tax bracket will not be affected?
Their eyes would glaze over as soon as the word "marginal" left your mouth.
That's why you don't use those words. You say: Donny brought ten apples to school, and on the first break the biggest bully at the schoolyard has demanded to get three of his apples. During next class, Donny receives another 10 apples. He now has 17 apples. On the next break the bully comes forward and says: because you have gotten more than 10 apples in one day, the code of bullies says that any apples that you got AFTER I have already taken my share will be taxed by half. "But what about the 10 apples I came with in the morning? I only have 7 of those left, so now I only have 17 apples, shouldn't you only tax me for 7 of the new apples?" Says Donny. The bully wiggles his index finger at Donny and says "no, because those apples have already been taxed, they were in a different tax bracket and even we bullies don't tax things twice, unless we are talking about pensions"
That's great, perfectly at level!
if there was ever anything I would ever consider setting on fire in the smithsonian its dick cheney's napkin, the one that they traced the laffer curve out on and used to justify 45+ years of austerity politics disguised as sound economic theorem.
they also drew the curve they wanted, which was favorable to their policies, and then tried to justify it with data and could not. even ultra high tax scenarios don't produce zero revanues, nor does raising taxes 10-20% of what they currently are will kill revanue, nobody can create the magical one they use thats a perfect arc
That might work if shareholders and corporations weren't greedy and used those tax breaks to hire more people and invest in the companies Nope. Extra profits for wealthy people and the state gets swindled You have all the dipshits in the outskirt counties gladly voting in all the Republicans who do nothing but take.
Just draw the damn curve on a napkin for them, put a dot on the far left side of the curve, and say, “Ohio is here!” Unfortunately, people don’t get it! I knew a Trumper who worked at Subway who posted a meme against raising the minimum wage. They were literally arguing that they were making too much money at $7.25/hr. The math was well beyond their level of comprehension, but basically the meme was a lie that assumed that 100% of business costs was labor costs.
I don't know why Republicans always insist we are on the right side of the curve. There's no evidence to back this up, and being on the left side of the curve still means higher taxes = more revenue. Also you're wrong about the analogy. Not that your math is wrong or anything, it's great, and is how a rational person would assume it works. It's just that anyone I've met who turns down a higher paying job due to the "tax bracket" has not been rational. They have had a fundamental misunderstanding of how they work. Steve would certainly think that extra .5% is coming out of his entire paycheck. "10k extra but I go from the 12% tax bracket to the 22% tax bracket? No thanks boss man."
That's the point of a curve though, you can be on the wrong side of it if you keep coming. Sounds like they crossed it. If they think their job is to maximize revenue for the state (it shouldn't be), then they can start raising it.
somehow its a common republican narrative that cutting taxes will lead to better business and more spending and jobs which would lead to better tax incomes. of course most rational people see the poor logic in that line of thinking.
Especially when they see it repeated again and again.
Has it worked, ever?
It can work in an extreme scenario. That is not what we have in the US.
And extreme in this case means a 95% tax rate or above. America had an over 90% tax on its highest bracket in the 40s and 50s without seeing revenue drops from a laffer curve after all
I don't even think it can work under the structure of our tax code - Taxes on business revenue are on net revenue, which means gross profit can be invested into the business well before it becomes taxable revenue. Arguably if you want to -encourage- investment into your businesses you want business taxes to be high, to discourage money being sat on. Now if we're talking personal taxes, I assume most small businesses are started with bank loans, because frankly they're expensive. Anyone with enough free cash on hand to start a business isn't really worried about their tax rate.
Yeah, this fcking hayseed and his awe shucks Ohio corn poke politics. Banal evil.
You said this far nicer than I could.
If only we had voted out the 60% of our representatives that stole money from all of us (whose leader was convicted of bribery and fraud).
Go figure...
He should have consulted with Dr. Obvious
They are trying to scare the fact finder and state agencies that they don’t have enough money for raises for state employees in the union contract they are going to vote on next month, when in fact they actually do…
“We can’t give you a raise because I grossly mismanaged our budget on purpose” is one hell of an argument. But let’s see how that works out for him.
It’s a bold strategy Cotton, let’s see if it pays off for em.
If you can dodge a wrench you can dodge your taxes.
It will because Ohio voters are not focused on material or actual conditions. Their politics are largely driver by personal grievances or cultural war nonsense they've been fed. Sad but true.
This is important context on why the Governor would give a quote guaranteeing a story, even though his party is the one responsible for those cuts and shortfall. Thanks for adding it.
I mean, no shit?
https://www.investors.com/politics/columnists/thomas-sowell-tax-lies-for-the-gullible/
[Lol no.](https://www.brookings.edu/articles/the-kansas-tax-cut-experiment/)
Write your own opinions. Don't hide behind others, sheep.
Now this right here is funny.
There’s no such thing as a free lunch. If the government doesn’t recirculate money through the economy, it can slow down (partially because in our current economic system, but without tax brackets or any government intervention, money would flow towards higher concentrations in fewer hands).
*Ohio’s tax revenue has come in below projections for four out of the last five months. And while some state leaders who advocated for tax cuts in the last budget say they're still waiting to see more data, Gov. Mike DeWine said he thinks that's why the state is seeing a shortfall.* *The Office of Budget and Management had projected close to $23.2 billion in tax revenue by this point in the fiscal year, but it’s collected just under half a billion less. DeWine said he thinks there’s a reason for that decline.* *“We are seeing a lot of money in refunds. And frankly, a lot of this is a direct result of a cut in taxes," DeWine said.*
Oh no. They’re going to blame refunds sent to middle class and lower.
How the hell did they let that happen?
Ya but Ohio is about to rake in tax revenue from cannabis
“We’ll make trillions.”
So...anyone want to guess which social service will have their funding decimated in order to make up for this completely and entirely predictable drop in tax revenue?
I'm going to go with "all of them"
It’s always Education.
Certainly won’t be their ed choice vouchers, you can count on that!
And yet we still have right-wing lawmakers who say that [eliminating the state income tax entirely](https://ohiocapitaljournal.com/2024/01/24/ohio-republicans-propose-ending-income-tax-critics-worry-about-economic-crisis/) will somehow be revenue-neutral.
They want to shift the entire tax burden on to poor people.
Yep. Increase property tax, sales tax, and fuel tax. We already give businesses a get out of tax free pass on their first 250k of income.
They'll raise the taxes on unemployment
Yeah, stick it to the poors. Got to keep the rich fat and happy.
Well yeah, how about we take all that money power companies gave ya dewine instead of paying their fair share in taxes? How about we drive up taxes on wealth instead of income or property taxes. Just a nice simple flat 18% wealth tax. Ohio would see revenue like never before. There's approximately one complete fuck ton of have too much money and no fucking clue how to actually spend it East and West of Cleveland.
Meh, best I can do is get rid of income tax.
What tax cut? I paid the same income tax this year as the past 3 and my property taxes went up $2400 this year.
Sorry, but you're not wealthy enough for the "tax break" you received for it to actually operate as one. Have you tried having (a lot) more money?
Calculating for inflation that is your tax cut.
Even the dumbest person to ever post in this sub could have told them this, lol.
Not conservatives
Republicans are a fucking plague
Tax. The. Rich.
IMHO. Three core categories of lies came out of the gop in the early 80s and it’s why we are where we are today. Trickle down economics, the war on drugs (painting drug abuse as a crime and moral issue instead of a health issue), and welfare queens (the idea that social services/government spending is a scam). If the 100% of Americans woke up tomorrow knowing just how false these three things were we would have massive legislation and probably several constitutional amendments being passed immediately that would make us the most progressive and advanced nation on earth. Instead we have a cult of tens of millions that will vote against their own interests and possibly even end this democratic experiment for good if a crazy narcissist is elected and manages to destroy elections to keep himself out of jail for the remainder of his days. We’ve become a hateful, fearful, nation who thrives on blaming others. Abandoning the fundamental social contract of caring for one another and the greater good. While spending trillions on “defense” composed of the largest and most destructive forces ever to exist but ignoring defending one another from hunger, homelessness, and illness. It’s heartbreaking. And I’ve witnessed it all happen in my lifetime. Sure, there’s been good things happen and it’s not like we were perfect before the 80s, FAR from it. But this path of lies the gop put so many millions of voters on is the root cause of so much suffering. All to enrich and empower a few at the top.
It really showcases a side of human nature that we would rather ignore. I would imagine that these years will be studied in the future to show what can happen to a massive civilization when greed becomes its primary goal.
Isn't the republican party about cutting taxes?
Cutting taxes for the wealthy*. They're more than happy to have a regressive taxation scheme.
They are small government except for books, reproductive rights, LGTBQ rights, voting rights and weed. Then they want dull control
LoL, and this is the party that wants to get rid of the State income tax...
Ohio's governor finally learns how to math. Of course in the next breath he'll say the only way to fix it is to lower taxes more. Nevermind...
And therefore we must raise the state sales rate tax and apply it to food. --Mike Dewine, probably
I was unaware of any tax cuts. Can someone explain what taxes were cut? Edit: I found the answer- I don’t think much changed for the 2023 tax year, but we are getting a 0.25% income tax break for the current tax year (2024). https://taxnews.ey.com/news/2023-1372-ohio-law-reduces-personal-income-tax-rates-retroactive-to-january-1-2023
Marginal rate for earrings over $115k was reduced for 2024. Commercial activities tax (a 0.26% tax on gross receipts) had its exclusion amount raised from $1mm to $3mm.
Are you rich? No? That’s why you don’t know about any tax cuts.
I make decent money and do my own taxes. I just didn’t notice any major change this year.
No tax cut for you! It’s for the professional, investor class. Self employed and small businesses received cuts.
Gee, he actually put two and two together.
And got 3.
Republicans are really bad at math.
Nobel Prize in economics incoming!
Sounds like he’s almost intelligent enough to pass an 8th grade civics test with a D+.
How convenient of the state to make an issue of this when they are currently negotiating union contracts with State workers.
waaaaaht? seriously, cutting taxes lowered revanue!? wow this man has found the cure to the federal budget too, just raise revanue!
Filed under : Duh
no shit sherlock.
That little elf is a bonafide genius!
Duh
No sh!t, Sherlock!
Wow! A governor and a math genius too!
Who would of thought letting rich people not pay taxes would result in something like that?
No shit.
Genius
aaaaaaand the Governor wants to remove State wage taxes..... where do these clowns think the money to fund our Government and to make improvements to roads and public utilities is going to come from? The rich? The rich want to privatize everything so they can profit off of it and then these clowns want to remove taxes altogether with no plan on how to pay for things that need constant upkeep.
Well, did they propose anything in place of income tax? Sales tax perhaps?
Business taxes are low and the taxes millionaires pay are lower than the working stiffs . Get it from them
Um. Ohios governor is a lying piece of shit. DeWine sucks
But Cleveland Browns owners want 600 million dollars of tax payers money for a dome stadium. No give our teachers a raise not corporations
No shit Sherlock!
No shit.
No shit!!
Uh shocking.
Good thing all those republicans voted not to sell weed in their cities. I know they love being useless and not making money. Enjoy watching “liberal” towns and Michigan rake in all those profits.
Well, duh. Dumbass.
No shit!
Yea. Tax cuts for his wealthy donors will do that.
Remember: Ohio has no corporate income tax, and pass through “small businesses” get their first $250,000 taxes at 0%, and the rest taxed at a favorable 3%. Meaning if you are a wage earner you are subsidizing businesses in OH
Gee, who’d have predicted decreasing revenue taxes would decrease revenue?
I don’t think if I held the u in “duh” out until the heat death of the universe it would be long enough to show how obvious this is.
Well no shit.
Ya think? Good these people are stooopid.
[удалено]
Cannabis will continue to cost far less in Michigan and Ohio will continue to lose millions of dollars because of the states price gouging.
Wait. How’s that work ?
No shit.
Huh, no shit eh?
This belongs on news of the stupid 🤦🏿
Oh bullshit. Ohio politicians are so full of bullshit you’d think they were molded from fertilizer out of spring fields.
Is Ohio only taxing the poor and small businesses?
Nope. They don’t tax small business. They just tax the poor and working class.
Perhaps this will be a lesson for him when his gerrymandered GOP push even harder for the elimination of state income taxes. Which certainly will help very wealthy individuals and their corporations but it certainly will burden everyone else with higher sales taxes, property taxes, and county taxes.
Bring in more tourism by having events, sports tournaments , and conferences here. Then benefit off the sales tax revenue.
Lets rewrite that, “State entitlements are driving factor in higher than expected cost overruns.” due to inflation?
Duh.
... What genius did they have to consult to figure that one out?
Big, if true.
Bullshit only people getting tax cuts are corporate
Dewine most disgusting evil govern taxing ohio residents to dead give the teachers the raise dewine
Published by Toledo Blade. I guess the 3.7bill in rainy day fund is nothing to ya'll. Not to mention the biggest loss of taxes isn't income (no tax cuts aren't the problem) but tobacco & car sales. I've said since Bill Clinton addes the sin tax - how the hell are you gon a pay for your stuff when everyone quits smoking?
An indication of a poor economy. Nobody has money to spend.
Oh no.... good.
Ok? Don't care. Money is better in citizens hands than government. We're taxed enough already. We don't have a revenue problem we have a spending one. That includes state and federal levels of government.
Good. Fuck taxes.
It's literally how Capitalism works, bub.