Friday, August 29, 2008

No More Income Tax? 

A Proposal for Ohio

By John LaPlante

Filed As:  Budget and Tax

Of all the states, Michigan has the country's worst economy. Ohio is running a close second or third. The Buckeye Institute suggests that Ohio can improve its economy by phasing out the state income tax.

Why? For one thing, Ohio has been a relative loser among states, both in population growth and in income growth.

Eric N. Fisher says "Phasing out the income tax will accelerate per capita output growth by 0.35% and increase annual population growth by 0.6%. " His plan calls for replacing the income tax with a "commercial activity tax."

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