By Tom Brinkman Jr.
Guest columnist

Brinkman

Issue One on the November ballot is part of Governor Bob Taft's plan to create jobs in Ohio. That would be a good thing since the recent one-penny sales tax increase destroyed 99,000 jobs according to The Beacon Hill Institute. Unfortunately, Issue 1's own supporters say it will not even create one-third the number of jobs lost.

While there are many reasons to vote no on Issue One. Three stand out.

• Issue One will tear down a firewall that has existed in the Ohio Constitution since the 1850's, which prohibited the use of public money for private businesses. This provision was put in place after so many of the canal and railroad companies, which the state government invested in, went bankrupt.

Some of the businesses in which the state plans to invest are going to fail. They all sound great, but many do not have a market and some may never have a market. Isn't it the job of venture capitalists and private investors to take those risks?

• Government's role should be that of a fiduciary and not to make a profit. We set up strict guidelines for our state and county treasurers to follow when investing our money. They are only to invest in risk adverse investments, which will give Ohioans a fair return.

They say that this will not raise taxes, but who is on the hook to pay these bonds back? You, the taxpayers. The payments will come from the state treasury just like payments to schools, mental health institutions, and parks, etc. If the economy lags, what will be cut to make the payments? The General Assembly that I have served in has proven all too willing to raise taxes instead of making the hard choices and cut spending. Spending over the past two budgets is up over three times the rate of inflation. Do not believe politicians when they tell you this will not increase taxes, it will.

• Why in the world would businesses spend $3 million dollars in an advertising campaign to make you think that Issue 1 is the greatest thing since sliced bread? The contributors stand to gain millions of dollars of your tax money and they are salivating. Is there a month that goes by where we do not hear about some government official handing out contracts without bids or in return for favors?

Issue 1 is not the solution to Ohio's serious decline. Expert after expert will tell you that the way to revive Ohio's business climate is not to give away tax money to a few well-connected companies. Rather, we need to create a business climate in which all companies can compete on a balanced playing field. The Ohio Revised Code to loaded with business incentives and credits, and the high corporate tax rates to foot the bill. Revenue from corporate taxes is half of what it was a decade ago. Special interests, loopholes, and carve outs have knocked the system out of balance. Let's lower business taxes and make everyone pay their fair share. The result will be a fair market for businesses large and small to be able to plan, budget and prosper. Done right, the revenue from a lower but evenly spread corporate tax will increase.

Reject Issue 1 on Nov. 4. Force Gov. Bob Taft and the General Assembly to make the right choice for fairness and equity for all of Ohio's businesses, not just a select, privileged few.

Tom Brinkman, R-Mount Lookout, is a member of the Ohio House of Representatives and a member of the Coalition Opposed to Additional Spending and Taxes (C.O.A.S.T.).