




Congressman Kasich has a radical tax plan that would blow a massive hole in Ohio’s budget. The scheme forces local governments to choose between devastating cuts to local police and fire departments, first responders, parks, public health and other local services—or massive local property and income tax hikes. And that’s on top of massive cuts to schools from the state’s General Revenue Fund.
It’s a scheme straight out of the failed Washington-Wall Street policies that got us into this economic mess.
Click here to find out how Kasich’s reckless plan will affect services in your local community.
When Lehman Brothers went bankrupt in September 2008, Ohio’s public pension funds lost hundreds of millions of dollars. Kasich claimed that he only scheduled and attended two meetings where his Lehman Brothers colleagues pitched Ohio’s public pensions on investing in Lehman. He promised he didn’t pitch any other Ohio government entity.
But in July of 2010, Congressman Kasich was caught in a lie. The Columbus Dispatch revealed that Kasich personally pitched another Ohio pension fund on Lehman Brothers.
At Lehman, Kasich also opened doors for several other Lehman employees by introducing them to Ohio government officials. One of those Lehman representatives tried to sell toxic assets to Ohio pensions just weeks before Lehman Brothers collapsed.
After leaving Congress in 2001, Kasich went to Wall Street and cashed in on his trickle-down policies with a corner office at Lehman Brothers.
Congressman Kasich was recruited to the firm by Dick Fuld, Lehman’s CEO, and given a corner office. Kasich was an enthusiastic admirer of Fuld’s, calling him “really smart,” “an awesome guy” and “a great leader.” Congressman Kasich made millions at Lehman Brothers, but he still refuses to reveal the full extent of his work and compensation.
The Dayton Daily News reported that Kasich opened doors and made introductions for Lehman employees to pitch Ohio pension funds. As a result of their toxic investments with Lehman, the funds ultimately lost hundreds of millions of dollars.
Congressman Kasich’s firm used misleading accounting to hide its disastrous finances. And in September 2008, Lehman Brothers collapsed in the biggest bankruptcy in history, triggering a global economic crisis.
During his 18 years in Congress, Kasich voted repeatedly for unfair trade agreements that outsourced jobs, hurting Ohio workers while making Wall Street rich.
Congressman Kasich voted for free trade with China, which cost Ohio more than 90,000 jobs. He voted for NAFTA, which cost Ohio nearly 50,000 jobs. And Kasich voted in favor of tax breaks that encouraged companies to ship American jobs overseas.
After losing their jobs to outsourcing, many Ohioans relied on the Trade Adjustment Assistance program to receive job training and find new work. Two years after voting for NAFTA, Congressman Kasich cruelly proposed eliminating the Trade Adjustment Assistance. According to the Washington Times, the program was “slated for extinction” under Congressman Kasich’s budget.
In Congress and as a Wall Street banker, Congressman Kasich consistently supported policies that undermined American workers and outsourced American jobs.
With his support of NAFTA and special trade status for China, Congressman Kasich allowed the U.S.health care manufacturing market to be flooded with cheap imports, which paved the way for outsourcing. Then, as a member of the Board of Directors at Invacare, a health care manufacturer, Kasich personally signed off on a policy of outsourcing jobs from Ohio to China and Mexico.
Since leaving Congress, Kasich’s repeated votes to outsource jobs have helped him make millions on Wall Street and on corporate boards. Invacare was no exception. Kasich was richly rewarded for his time at the company, earning hundreds of thousands of dollars in cash and stock compensation. Kasich even accepted a pay raise in 2006, the same year hundreds of jobs were outsourced to China and Mexico.