Wednesday, August 13, 2008

How to attract wealth in Ohio ?
In this chart on the BizJournals pages, 267 cities are ranked by wealth. The top cities are dominated by cities in California. Ohio cities were all towards the bottom. Indeed, Forbes ranked several Ohio cities as America's fastest Dying.
So I wondered what we were doing differently than California.
Apparently we are not taxing the rich enough and, instead relying too much on user based taxes.
Below is a chart comparing Ohio and California on taxes and prices.

OH CA
Costs
Cost of Living Ranking 15 50
Groceries 96.9 119
Housing 79.7 208.7
Utilities 104.7 96.7
Transportation 100.6 111.3
Health Care 96.5 111.7
Misc Goods 97.9 109.8
Gas 3.64 4.09
Taxes
Personal Income 0.618 - 6.24 1 - 9.3
Corporate 5.1 - 8.4 8.84
Ssales Tax 5.5 2 (adjustable)
Gas .28 .18
Cigarettes 1.25 .87

Ddata from:
Federation of Tax Administrators
Missouri Economic Research and Information Center

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