Policy Matters Says New Ohio Tax Policy Benefits the Rich
Statehouse Republicans have championed recent tax changes, including the elimination of income taxes for those making less than $21,750 a year. But a new report by a liberal leaning think tank shows tax changes recently made by Ohio lawmakers will make the rich richer and will require lower middle class or poor Ohioans to possibly pay more.
Zach Schiller with Policy Matters said the latest reforms are continuing to shift tax burden from the wealthiest to the poorest Ohioans.
“People in the top one percent making more than $496,000 see an average tax cut whereas people, middle income people and low-income people, see not much change at all or a small increase.”
Schiller said the report took into account increases in the gas tax, application of internet taxes and the changes in what’s known as the LLC loophole, a mechanism small businesses often use.