$871 million gap in the state's current biennium budget by delaying the final phase of a planned tax reduction until 2011, Phillips said. The state would raise about $844 million in revenue, she noted.
Story here.
One more example of why you should never trust the government. Promising to reduce tax rates after raising them somewhere else.
However the reduction part is incremental over time. That's pretty handy when a government made "crisis" evolves and we "need" more of your money. We just won't give you the tax cut we promised.
By the way, the tax increase is in full effect.
Never trust the government when they tell you they'll cut your taxes over time. They lie. Even if they keep their word (laughing), the money is artificially inflated by same government, making it worth less.
Yes, I know that the CAT tax had to be incremental due to loss of funding if we just "gave" all the tax money back to the people all at once. Right. Here's the reason why governments make tax cuts gradual over time. So your attention will be elsewhere when they cut the promised tax cutting short.
Never trust the government. Especially one (Ohio) some in bed with the teacher's unions that they can't take care of their own citizens needs....like letting them keep their own money.
Does no one care that Texas and Tennessee are filling up with ex-Buckeyes?
Who wants to wager that we'll never see the "final phase of a planned tax reduction"?
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