Columbus City Council announced yesterday that they will be increasing the local income tax rate by .25% which equates to about $150 per person over a year. While that doesn't seem like much, lets consider this..... The State of Ohio also wants to raise the income tax rate by about the same percentage. Now you are talking about $350 per person a year. Then our federal and state government is about to increase the gas tax by 50 cents a gallon. And many states are increasing taxes on tobacco products and other luxury goods.
When you put all of these things together, the Ohio Taxpayer could be paying almost $1500 more a year in all these increased taxes. (from Citizens For Ohio advocate group). This could mean a married couple could see an increase of almost $2500.
The idea of getting our economy is to put money into the taxpayers hands, not take more away.
Experts say today's high school students who are going to want to go to college won't be able to because scholarships are drying up and student loans are getting harder and harder to get. Most will have to work through college, but guess what, unemployment is at its highest rate since 1983 and projected to reach almost 10% nationally! I was out looking for a summer job and no one is hiring. The usual places for teen summer work aren't offering jobs this year. Most say it is because their priority is to give these jobs to unemployed adults who need the job to support their families.
This country is about to return to the 70's. You hear how an economy and social events are circular, history repeats itself. Many experts say we are about to return to the 70's era where families live in communes, citizens protest the government and war (as in Iraq currently), and long hair and tye dye is the craze.
Woohoo! Bring back Woodstock!