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Dear Editor :
Ending the Tax would do little to balance the State Budget or decrease the deficit since only 20% of the revenue goes to the Ohio Treasury. The remainder goes to townships, counties and municipalities. These sub state entities would lose $ 277 million each year. Local sales tax, property tax and/or flat income tax would have to make up the $227 million lost, or necessary services would have to be cut. The middle class and poor would pay most of these regressive taxes. Our regressive tax code is eliminating the middle class. Legislators voting to eliminate the Tax will lose votes in coming elections.
Only those with an estate above $ 338.333 after deductions, pay Ohio Estate Tax. The wealthy should be willing to pay their fair share of taxes. Although the Farm Bureau has a big campaign to end what they call the “Death Tax”, few farm families are affected.
Senator Bill Seitz proposes a modification of the Ohio Estate Tax would not be a hardship on poor townships, farmers or the wealthy who allegedly retire outside Ohio so their heirs avoid the Tax.
Sincerely,
Albert A. Gabel
Professor Emeritus
Ohio State University
Ending the Tax would do little to balance the State Budget or decrease the deficit since only 20% of the revenue goes to the Ohio Treasury. The remainder goes to townships, counties and municipalities. These sub state entities would lose $ 277 million each year. Local sales tax, property tax and/or flat income tax would have to make up the $227 million lost, or necessary services would have to be cut. The middle class and poor would pay most of these regressive taxes. Our regressive tax code is eliminating the middle class. Legislators voting to eliminate the Tax will lose votes in coming elections.
Only those with an estate above $ 338.333 after deductions, pay Ohio Estate Tax. The wealthy should be willing to pay their fair share of taxes. Although the Farm Bureau has a big campaign to end what they call the “Death Tax”, few farm families are affected.
Senator Bill Seitz proposes a modification of the Ohio Estate Tax would not be a hardship on poor townships, farmers or the wealthy who allegedly retire outside Ohio so their heirs avoid the Tax.
Sincerely,
Albert A. Gabel
Professor Emeritus
Ohio State University