October 13, 2006

Ohio Governor’s Race Mini-Reminder (on Taxes)

Filed under: Taxes & Government — Tom @ 8:10 am

Ted Strickland voted for the 1993 tax increase (HT Club for Growth).

Among other things, it:

  • Raised the highest tax rate to 39.6%.
  • Limited the deduction companies could take for executive pay to $1 million each, leading to the era of stock options, and related abuse.
  • Made as much as 85% of Social Security benefits taxable (was 50% before the law passed) Later thought — And since the limits involved aren’t indexed to inflation, more US retirees get sucked into paying tax on their Social Security benefits every year.
  • Raised the taxes of nearly most people who were already paying taxes (i.e., the “middle class tax cut” promised by Bill Clinton during the 1992 campaign strangely evaporated).

The vote was 218-216, so you can claim that Strickland’s vote was the tiebreaker. One of my biggest regrets is not saving a letter Ted Strickland sent to me defending this vote and regaling me about the economic evils of the Ronald Reagan era. We should be so “unlucky” again.

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1 Comment

  1. [...] Yes. It is conclusive. Since the “polls” show that “Strickland is in the lead” by a “large” margin… then it must only be concluded that Ohio is ready to vote in an administration that wants to eliminate the tax cuts and support record tax increases. Among other things, it: [...]

    Pingback by Conservative Culture » Poll Shows Ohio Wants Higher Taxes — October 23, 2006 @ 9:41 pm

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