The GOP's Wealth Redistribution Program
In 2005, under Republican control, Ohio shifted its tax policy away from income tax - Republicans promised that lower income tax would increase jobs and bring business to Ohio. Since 2005, Republicans have had almost entirely uninterrupted control of the levers of Ohio government to enforce and tweak this new tax policy (save for a 2 year Obama-wave when Democrats simultaneously held the Ohio Senate and the governorship).
Policy Matters Ohio analyzed the outcomes, which demonstrate how Republican promises of playing lower taxes obscure a monstrous wealth distribution scheme in which the poorest subsidize the wealthy.
The bottom 60% of tax filing households (under $60,000 taxable income) have increased their share of taxes paid since 2005.
The bottom 20% of tax filing households (under $23,000 taxable income) have increased their share by the largest amount, both as an absolute number ($164 annually) and a percentage of taxable income (+1.2% of income).
The top 20% of tax filing households (over $107,000 taxable income) have DECREASED their share of taxes paid since 2005 by an average of $5,534 every year.
The top 1% of tax filing households (over $551,000 taxable income) have DECREASED their share of taxes paid since 2005 by an average of $50,716 every year.
The Ohio government suffers from an $8 BILLION shortfall because of these tax policies - that's less money for all of the critical public services that are necessary to serve the common good.
What have we learned? Republicans gain power by promising tax cuts that will put money back in the pockets of taxpayers. However, what they mean by this promise is that money will be intentionally and strategically redistributed from those making less than $60,000 (and, especially, less than $23,000 - of whom there are disproportionate number of BIPOC folks) to those making more than $107,000 (and especially to those making more than $551,000 - of whom there are a disproportionate amount of white folks). All while ensuring the rest of state government is underfunded and unable to effectively provide critical services.
None of this should be surprising. But it puts data behind what we already know - the Republicans party serves as the toady of those who own and control most of society’s wealth, ensuring that these material interests are protected and expanded.
(credit to DJ Byrne and The Rooster Newsletter for tipping me off to this report)