· April 16, 2012

New IO analysis of federal taxes paid by Ohioans supports passage of Buffett Rule

Today, Innovation Ohio, in collaboration with the Center for American Progress, released an analysis of the average combined effective federal tax rate paid by taxpayers throughout Ohio in anticipate of a vote on the so-called “Buffett Rule.” The rule would restore fairness to the tax system by requiring multi-millionaires to pay their fair share in federal taxes. Our research found that the richest residents of some of the wealthiest zip codes in the country paid an effective tax rate (income and payroll taxes, combined) of just 17.2 percent. Meanwhile, 99 percent of Ohioans live in a zip code where the average tax rate is higher. Read the report.