-By Warner Todd Huston
Matt Mayer of the Buckeye Institute has done the math on what a defeat of Issue 2 will cost Ohio’s taxpayers. Turns out it will cost taxpayers $1,468 more a year by 2015.
Mayer made a simple calculation by taking the $8 billion tax hike that a defeat of Issue 2 will usher in by 2015 and dividing that by the 5,448, 500 state tax returns filed in Ohio. He also took the initial $1.4 billion tax hike that will result if the unions win on Tuesday and found that each taxpayer will be stuck with an immediate $257 more in taxes next year.
The annual savings we calculated from SB5 once all contracts are negotiated would be nearly $1.4 billion per year (for details, see www.buckeyeinstitute.org/getthefacts).
In 2007, Ohio had 5,448,500 [tax] returns filed, so that would equate to a “tax” of $257 per return… That is [merely] the savings from SB5 enactment.
An additional wrinkle is that Big Labor/Democrats have essentially gone all in on higher taxes; meaning, if SB5 is repealed, that removes one option to reducing local government costs, which leaves two options–program/staff cuts and/or raising taxes… For example, Ohio’s 613 school districts currently project a collective deficit by 2015 of [approximately $8 billion]…
[Thus, without] SB5, taxes will have to go up … [at least] $8 billion just for [Ohio’s] 613 school districts by 2015, which is $1,468 per return.
So, Ohio, you have a choice. Vote Issue 2 down and stick yourself with needlessly higher taxes and give unions the ability to stick it to you further, or give your legislature — not union bosses — the power to control your state’s budget like they should.
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“The only end of writing is to enable the reader better to enjoy life, or better to endure it.”
–Samuel Johnson
Warner Todd Huston is a Chicago based freelance writer. He has been writing opinion editorials and social criticism since early 2001 and before that he wrote articles on U.S. history for several small American magazines. His political columns are featured on many websites such as Andrew Breitbart’s BigGovernment.com, BigHollywood.com, and BigJournalism.com, as well as RightWingNews.com, RightPundits.com, CanadaFreePress.com, StoptheACLU.com, AmericanDaily.com, among many, many others. Mr. Huston is also endlessly amused that one of his articles formed the basis of an article in Germany’s Der Spiegel Magazine in 2008.
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