Tea Party’s Disastrous Tax Cut Experiment Comes To Ohio | ThinkProgress

Kasich’s version of the idea is slightly more moderate than Brownback’s, though that’s a bit like saying that sushi is less fishy than an aquarium. Kasich’s proposal is capped at $2 million of gross business receipts, while Brownback’s eliminated taxes on all pass-throughs without any cap. Kasich also balances off part of the budget impact of eliminating pass-through taxes for a million entities by raising business taxes on larger companies in the state, which should soften the impact on the state budget. But Kasich also wants to raise the state sales tax rate, a regressive move that hurts low- and moderate-income people far more than the wealthy.

via Tea Party’s Disastrous Tax Cut Experiment Comes To Ohio | ThinkProgress.

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