Banks could get tax break, Kasich says

http://www.dispatch.com/live/content/local_news/stories/2011/05/25/banks-could-get-tax-break-kasich-says.html?sid=101

This is a real story. Kasich is a real nightmare for Ohio.

Banks could get tax break, Kasich says

John Kasich used to be a banker. Now, Ohio's Republican governor is studying a possible tax cut for the state's financial institutions.

Banks, savings and loans and most other Ohio financial institutions still pay a corporate franchise tax, a 13-mill tax based on net worth.
Kasich, a former executive at Lehman Brothers, suggested yesterday that altering the tax could reduce costs for banks and generate more
loans.

"I mean, taxing people on the basis of net worth instead of net income is something that's not all that appealing to me," Kasich told about
300 bank executives at the Ohio Bankers' Day Conference at the Crowne Plaza Columbus North.

snip

The proposal to give banks a tax cut, at a time when public workers' pay and/or benefits are being trimmed and many services are being
slashed, drew immediate fire.

..... $480,000,000 of Ohio's public workers retirement money into a Lehman Brothers "Junk Fund," which
then went belly up but John walked with a big ass commission check and yet he got elected as Governor
of Ohio and now talks about the problem in the shortfall of the public workers retirement fund? :grr: