New analysis: Low-income taxpayers in Oklahoma pay more than twice the tax rate paid by the richest Oklahomans
While Oklahoma has a reputation as a low tax state, poor and middle-income Oklahomans are actually paying a greater share of their income in taxes than the national average, while the richest 5 percent of households — with annual incomes of $194,500 or more — pay less.
That’s why Oklahoma ranks among the ten worst states for tax inequality in the newly updated Who Pays report from the Institute on Taxation and Economic Policy (ITEP). The analysis evaluates major state and local taxes, including personal and corporate income taxes, property taxes, sales and other excise taxes. It finds that the poorest Oklahoma households pay 2.1 times as much of their incomes in taxes as the wealthiest 1 percent, and the middle 60 percent of households pay 1.7 times as much as the wealthiest. The poorest 20 percent of households pay the 5th highest taxes as a share of their incomes — 13.4 percent — in the country. You can read the full Who Pays report at www.whopays.org and see the fact sheet for Oklahoma here.
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