Skip to comments.Don't Believe the Doomsayers. Ohio's Economy Is Doing Fine.
Posted on 09/06/2008 5:47:03 PM PDT by Forgiven_Sinner
Ohio is going to be a hard fought-over state in this presidential election. And consequently, the economy of this bellwether state has become highly scrutinized.
. . .
By 2010, Ohio will be one of only two states without a general tax on corporation profits or a property tax on business machinery, equipment and inventories. This year is the last for Ohio's business property tax; next year is the last for the corporation profits tax. And Ohio's personal income tax rates are falling by 21% across the board.
Between 2005 and 2007, Ohio's per capita state tax burden has already fallen to 38th in the nation, from 27th, according to the Federation for Tax Administrators. When the new tax cuts are phased in, Ohio's business taxes will be the lowest in the Midwest.
Exports, meanwhile, are booming. In 2007, Buckeye State exports totaled more than $42 billion, up 11.1% from 2006, making Ohio the only state in which exports have increased each year since 1998.
. . .
Ohio recently passed a bipartisan $1.57 billion jobs stimulus plan that will invest strategically in our infrastructure, future work force and growth industries such as biosciences and renewable energy. Our new Advanced Energy Portfolio Standard requires at least 25% of electricity sold in Ohio to be generated from new and advanced technologies by 2025. This will create vast new opportunities for green energy businesses in Ohio.
. . .
Ohio now leads the Midwest in the growth of venture capital investments in the biosciences; we rank first nationally in per capita clinical trials and operate the largest center for stem cell and regenerative medicine between the coasts. . . .
Mr. Strickland, a Democrat, is governor of Ohio. Mr. Fisher, a Democrat, is lieutenant governor of Ohio.
(Excerpt) Read more at online.wsj.com ...
>>But how can you account for Granholm?<<
She is the Tin Man.
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Ooops missed the rest
“and the Scarecrow rolled into one. No heart, no brains.”
John Kasich is running for governor in 2010 and he recently suggested that the income tax be repealed.
I've lived here for as long as you did. I don't find the state depressing. The winters, November through mid-March, have a lot less sun than summer. This is true of all the cities and states around the Great Lakes. I don't find winter depressing. In fact, I love cold and snow. The summers are usually nice. Often humid, but not beastly hot as the south. I think the high this summer in Cleveland has been 91 a couple times and a couple other days at 90. And, we don't get too many hurricanes.
So, maybe it's partly in the eye of the beholder.
This seems to be kind of a slap at Obama. I mean, he’s probably going to Ohio and preaching on the failed policies of Bush and how only he can fix things up there in Ohio. Now a couple of dems there say it ain’t so.
I left NE Ohio a year ago. The winters were getting longer and longer. Maybe it’s global cooling.
Just moved back to the midwest (Indiana) from California. Winter was great, I love the grey skies. Much easier on the eyes than all that sunshine.
Seriously, I got tired of the unending blue skies. It was oppressive having to constantly cover my eyes from the sun.
In answer to the question, yes, Strickland tries hard. He was a good congressman, much constituent service, is pro gun and down to earth. He’s the bloke who carried Kerry’s Canada goose out of the wild in the famous huntin’ photo. He is much better than Taft who was a moron and a disgrace to the office and his party.
But Lt Gov Fisher who also serves as Director of Development is just a smoke and mirrors guy who has taken funds for economic development and job creation and larded up the state jobs with political hacks. He has bamboozled Strickland into thinking he is a genius, when Ted should just follow his own good instincts.
Back in ‘06, to keep Blackwell’s tax reduction off the ballot as an issue, the legislature voted in these tax caps and reductions. We don’t have Ted Strickland or Lee Fisher to thank for them, it was Ken Blackwell’s baby, as passed by the legislature and signed by Bob Taft.
I just moved from Ohio back to Tennessee. I will save about $5000 in state and local taxes. I'm glad that Strickland is trying to deal with this issue, but Ohio's taxes are way out of control. They have a state income tax - Tennessee does not. They have local income taxes - Tennessee does not. My property tax in Ohio was 2.5 times what I pay in Tennessee.
I think that he's not telling the whole tax story. Perhaps he's excluding county and municipality taxes and fees. And gasoline taxes (which are about 10 cents/gallon higher in Ohio than in Tennessee). At any rate, I'm doing much better in tax terms in Tennessee than I was in Ohio.
The only tax that's higher in Tennessee is the sales tax, but the difference isn't all that big.
Welcome back! Need to change the CA flag on your ‘about’ page.
Apparently the RINOs took over, and then were replaced by Democrats. That's rather like what happened in Illinois.
Yeah, well, for the first time EVER, I know three people who have lost their jobs in completely different lines of work in the last year.
Second, it's absolutely true that Strickland has governed far more like a Republican than Taft ever did. He signed the concealed carry law, he torpedoed the recent "sick leave" initiative---saying he wouldn't support it. Aside from killing some charter schools, it's really hard to complain about him.
It depends entirely upon the region or city.
Sounds like Rendell could learn a thing or two from Ohio.
Workers looking for reasons for Ohios anemic job market need look no further than the State House where our legislators have been perpetuating the high tax, high regulation policies that have made the state a very bad place to do business.
Well some seem to see the figures differently than our illustrious Governor.
We need another Jim Rhodes whose motto was, “Profit is not a dirty word in Ohio.” A different era.
That’s Cleveland’s problem. Those businesses that want to make a profit are not welcome.
Rhodes was governor when my family left Ohio. He was a good guy.