Not Enough Money for Economic Development
Wednesday, October 1st, 2008 By Marc KilmerApparently Lt. Governor Lee Fisher is concerned because there isn’t enough money to implement his economic development plans for the state. I’m confused as to why the state needs to spend tax money on economic development in the first place. Economic growth doesn’t come from the government; it comes from businesses and individuals interacting in the marketplace. In fact, one of the main impediments to economic growth is taxes, the shortage of which is preventing Lt. Gov. Fisher’s plans. But if the Lt. Governor really wants an economic growth plan, why doesn’t he support something like eliminating Ohio’s income tax? I’d wager that this move would do much more for economic development than all the government programs Fisher is supporting.
Tags: economic development, income tax, Lee Fisher
October 2nd, 2008 at 2:07 pm
Hope for the Future: I asked a group of Kent State Students yesterday if ‘economic development’ would still occur in Ohio if there were no Ohio Department of Economic Development. The consensus was ‘yes’.