October 28, 2014

Cleveland Plain Dealer: Repeal of the State Income Tax Would Harm Ohio on Several Levels

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The Institute on Taxation and Economic Policy (ITEP), a nonprofit Washington, D.C., research group with a model of the tax system, reviewed the effects of income tax repeal. It found that if the tax were repealed and just half of it was replaced with a higher sales tax, the top 1 percent of Ohio residents, who made more than $360,000 last year, would average an annual tax cut of $33,576. The bottom fifth of taxpayers, who made less than $19,000 last year, would see an annual increase of $145.

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