Today, Governor Kasich relaunched the OhioMeansJobs website (after previous launches were critiqued for sending Ohio job seekers to out-of-state job listings). What the Governor failed to mention at the announcement was that, this week alone, his tax schemes have been criticized for failing to free up funds for job creation and causing many business owners to pay additional taxes.
Many Business Owners Didn’t Save Enough to Create Even One Job Under Kasich Tax Cuts: “Touted by supporters last year as a way for business owners to add workers and expand their companies, the tax deduction has saved the average filer $730. Most saved less….in the 10 months since the tax cut was approved in June 2013, Ohio gained 42,400 jobs, a 0.8 percent increase. That compares with a 1.4 percent growth rate nationally during that period, and a 1.2 percent increase in Ohio over the previous 10-month period.” [Columbus Dispatch, 5/24/2014]
Business Owners Forced to Pay More in Taxes Because of State Debt: “As lawmakers put the final touches on another $400 million in tax cuts, the state’s failure to pay off a federal loan to keep jobless benefits flowing has cost Ohio employers more than $423 million. Since 2012, employers have been forced to pay higher federal employment taxes to pay down the state’s debt to the federal government’s trust fund.” [Columbus Dispatch, 5/25/2014