Flash Fact: Ohio repeals death tax to stop job loss

Oregon Transformation

After nearly 120 years, Ohio repeals its death tax to stop the hemorrhaging of small businesses and jobs

This map will look a little different come January 2013, when Ohio officially drops its death tax.  What’s striking is the fact that Oregon and Washington are the only two states west of the Mississippi River that continue to embrace this job-killing tax.

(purple states signify death tax states)

 

Why would Ohio remove a source of tax revenue at a time when state revenues are down?

For three important reasons, according to the Wall Street Journal:
1)   “The truth is it yielded little revenue—around 2% of the average local jurisdiction’s revenues;
2)   “Dying in Ohio was expensive.  When federal and state taxes are combined, an Ohio family with a successful business could lose up to 40% of everything they had worked for;” and
3)   “The death tax was a major reason that business, jobs and capital have fled the state.

Sources: 

http://www.threescale.org/p/40/

http://online.wsj.com/article/SB10001424052702304447804576414013906238754.html


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  • Anonymous

    Well, you’ll wait a long time for Oregon to repeal the death tax,,,in fact, isn’t state government looking for new ways to tax Oregonians…various forms of social engineering like taxes on soda pop.

  • Anonymous

    You could say Oregon is a great place to live but you wouldn’t want to die here. And it also proves Gov Perry’s idea about only having a part time legislature is not necessarily a great idea. Our folks prove to be just as inept as the DC folks in only half the time…

  • TaxMan

    Death taxes are good. What do dead people need money for? This way, others who are still alive can benefit through the many essential services offered by the state.
    I think they should be even higher.

  • valley person

    I’m sure people and business will now flock to Ohio. “Death tax.” What a crock.

  • Rupert in Springfield

    Yet another amazing doublethink by the liberal mind.

    Raising taxes on cigarettes results in fewer people smoking.

    Yet

    Raising taxes on business or people does not slow economic growth.

    In Orwells 1984 doublethink was defined as the ability to hold two mutually contradictory ideas in ones head and think both were true. On taxes, the left has this one down pat.

    • valley person

      “Raising taxes on business or people does not slow economic growth.”

      95% of businesses are too small to be subject to an estate tax. Most of the other 5% are corporations, also not subject to estate taxes. So if 99% of businesses are not affected by a tax, how can raising or lowering it have any impact on GDP?   

      There is doublethink and then there is reality. Try the latter.

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