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Obama’s Tax Plan: Wrong For Ohio

- October 9, 2012

 

Obama’s Big Economic Idea – Higher Taxes – Will Only Harm A State That His Policies Have Already Weakened

THEN: Obama In Columbus, OH, 11/2/08: “Because the last thing we should do in this economy is raise taxes on the middle-class.” (Sen. Barack Obama, Remarks At Ohio Statehouse, Columbus, OH, 11/2/08)

  • Today, Obama Will Be Back In Columbus For A Campaign Event. “Ohio voters will see both presidential candidates on Tuesday, a day after a running mate visits. President Barack Obama's stop in Columbus on Tuesday at the Ohio State University campus will include will.i.am. Obama is scheduled to speak at 5:55 p.m. Doors will open to the public at 2 p.m. Free tickets can be obtained at most local Obama campaign headquarters or online at OH.Barackobama.com.” (Darrel Rowland, “Obama On The Oval, Romney Near Akron On Tuesday; Ryan In Toledo On Monday,” The Columbus Dispatch, 10/6/12)

NOW: Obama’s Plan To Raise Taxes Would Cost Ohio 27,500 Jobs. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP , 7/12)

  • Obama’s Plan To Raise Taxes Would Cost Ohio $6.5 Billion In Lost Economic Output. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP , 7/12)

OBAMA PLANS TO RAISE TAXES IN A STATE HIS ECONOMIC POLICIES HAVE ALREADY FAILED

Jobs: Since Obama Took Office, Ohio Has Lost 16,500 Jobs. (Bureau of Labor Statistics, Accessed 10/8/12)

Unemployment: Ohio Has 413,357 Unemployed Seeking Work. (Bureau of Labor Statistics, Accessed 10/8/12)

  • There Are More Ohioans Unemployed Than The Entire Population Of Cleveland. (U.S. Census Bureau, Accessed 10/8/12)
  • Since Obama Took Office, 200,225 Ohioans Have Dropped Out Of The Labor Force; More Than The Entire Population Of Akron. (Bureau of Labor Statistics, Accessed 10/8/12; U.S. Census Bureau, Accessed 10/8/12)
  • “44.2 Percent Of The Unemployed In Ohio Have Been Out Of Work For Six Months Or Longer.” “An all-time high of 44.2 percent of the unemployed in Ohio have been out of work for six months or longer. That's up from 42.4 percent in 2010. The study notes the longer people do not have a job, the more difficult it is for them to get hired because of skill degradation and employer discrimination.” (Russ Zimmer, “Study: Wages, Jobs Suffering In Ohio,” Newark Advocate, 9/3/12)

Food Stamps: Since Obama Took Office, The Number Of People In Ohio Receiving Food Stamps Has Increased By 30 Percent. (“Supplemental Nutritional Assistance Program: Number Of Persons Participating ,” Food Research And Action Center, Accessed 8/10/12; “Supplemental Nutritional Assistance Program: Number Of Persons Participating,” USDA Food And Nutrition Service , Accessed 9/28/12)

Poverty: Under Obama, 353,646 More People In Ohio Have Fallen Into Poverty. (“Poverty: 2007 And 2008,” U.S. Census Bureau, 10/11; “Poverty: 2010 And 2011,” U.S. Census Bureau, 9/12)

  • Ohio’s Poverty Rate Is At 15.3 Percent, Which Is Worse Than The Nation’s. “Ohio’s level of poverty — 15.3 percent — was worse than the nation’s, which was at 15.1 percent. Ohio’s level jumped 2 percentage points from 2009; it has never been this high since those records were first kept in 1980. The worst year before 2010 was 1994, when 14.1 percent of Ohioans were in poverty.” (Bill Bush, “Median Income In Ohio Hits 27-Year Low,” Columbus Dispatch, 9/14/12)
  • 1.74 Million Ohio Residents Live Below The Poverty Line. “The 15.3 percent translates into 1.74 million Ohio residents living below the poverty line last year, which means a family of four making less than $22,300 a year. About 639,000 Ohioans younger than 18 were in poverty, and 244,000 children younger than 5 were.” (Bill Bush, “Median Income In Ohio Hits 27-Year Low,” Columbus Dispatch, 9/14/12)
  • In 2010, Ohio Households Were “Poorer” Than They Had Been In More Than 25 Years. “Ohio households were poorer last year than they’ve been in more than 25 years, and the number of people living in poverty is higher than it’s been in more than 30 years, according to a census report released yesterday.” (Bill Bush, “Median Income In Ohio Hits 27-Year Low,” Columbus Dispatch, 9/14/12)

Median Household Income: Under Obama, Median Household Income In Ohio Has Declined From $50,136 To $45,749. (U.S. Census Bureau, Accessed 10/8/12)

  • 1 In 6 Ohio Households Struggle To Put Food On The Table. “The recession may have ended but 1 in 6 Ohio households continues to struggle to put food on the table.” (Catherine Candisky, “Report: Ohioans Still Struggling With ‘Food Insecurity,’” The Columbus Dispatch, 9/5/12)

Gas Prices: Since The Week Obama Took Office, The Average Price Per Gallon Of Gas In Ohio Has Increased From $1.903 To $3.764. (“Current State Averages,” Fuel Gauge Report, 1/16/09; “Current State Averages,” Fuel Gauge Report, 10/8/12)

College Tuition: The Average Student Graduating From A Four-Year College Institution In Ohio Has $27,713 In Debt. (Project On Student Debt, Accessed 10/8/12)

Foreclosures: In August Of 2012, Ohio Had The Nation’s Seventh Highest Foreclosure Rate, As One In Every 556 Housing Units Had A Foreclosure Filing. “Other states with foreclosure rates among the nation’s 10 highest were Arizona (one in every 360 housing units with a foreclosure filing), Nevada (one in 402 housing units), Georgia (one in 431 housing units), Ohio (one in 556 housing units), Michigan (one in 593 housing units), Delaware (one in every 610 housing units) and Colorado (one in every 617 housing units).” (Press Release, “August Foreclosure Activity Flat Nationwide,” RealtyTrac, 9/13/12)


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