There is an excellent editorial in today’s WSJ comparing the economies of Ohio and Texas as both Hillary and Obama zero in on tomorrow’s key primary votes. In contrast to Texas which is creating plenty of jobs for its residents, Ohio is losing them and ranks as the 47th worst state in the nation in terms of economic competitiveness. As an Ohioan myself, I certainly don’t take much pride in sharing the poor comparisons, but believe it’s worth doing so, if for no other reason that it doesn’t have to be this way.
I’ll admit that places like Texas and Florida have us beat hands down in the weather department. In spite of our feeble attempt to point out how hot it must be in Dallas during August, there is little we can do about our cold and snowy winters, save for a hope in some small degree of global warming. On tax rates, however, it’s an entirely different matter. According to the article, Ohio’s corporate tax rates are the third highest in the nation and our personal income tax rate is the six highest in the nation. In my mind, unions aren’t the problem, non-competitive tax rates — particularly in the face of our poorer weather — are.
If our state’s government wants to improve its lot, we need to take a step of faith by viewing greater tax revenues as the by-product of a successful government-business partnership rather than as a payment to which our government’s coffers are entitled. I’m reminded that a spirit of cheerful giving and sharing always wins out over one driven by compulsion or regret. If we tax our jobs more than our neighbors, our neighbors will eventually win the battle. And who are our neighbors?
It may actually be a Texan in our own backyard, especially if they have better weather.
