Commentary: Kasich’s Tax Cut Is No Job Creator
Like the gambling addict who claims he’s buying lottery tickets to “help schools and the kids” Gov. Kasich wants to sell us on a delusion. Take his plan to cut small business taxes by 50%.
Please.
The Governor says it’s all about job creation. “Small businesses,” he endlessly intones, “are the job creators in this state.” If we just cut their taxes by 50%, a virtual tsunami of hiring is sure to follow.
Just one small problem.
According to the Cleveland Plain Dealer, less than 2% of Ohio’s 717,000 small-business owners who qualify for the cut would save enough to hire even one minimum wage worker. In fact, 80% of Ohio’s small businesspeople would get less than $400 per year.
400 bucks a year? How many workers can you hire with that? [Read more…]