In a guest column in the Cleveland Plain Dealer, Estate tax repeal, other cuts would devastate, Martin R. Kolb writes in opposition to bills in the Ohio legislature that would repeal Ohio's estate tax.
Although he admits to personally disliking taxes, Kolb writes that the estate tax repeal would shift the burden to the state's municipalities. Kolb notes the long history of the estate tax as an important part of financing Ohio's government, dating back to 1893. Kolb writes that the elimination of estate tax would reduce the state's tax revenue by $70 million, which he notes could only deepen Ohio's troublesome deficit.
Posted by Kyle Petit, Associate Editor, Wealth Strategies Journal.
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