“During the last boom, we undercut the state’s most important general tax, the personal income tax, under the false premise that a series of tiny cuts there would lead to prosperity. It didn’t, and in the following bust, we had no petroleum revenue and insufficient income tax revenue to do the things the government is supposed to do. We all remember what followed.”
ABOUT THE AUTHOR
Gene Perry joined OK Policy in January 2011. He is a native Oklahoman and a citizen of the Cherokee Nation. He graduated from the University of Oklahoma with a B.A. in history and an M.A. in journalism. Gene also serves on the board of the Oklahoma Sustainability Network, is a trustee of the Oklahoma Foundation for Excellence, is a member of Investigative Reporters and Editors, and has chaired the communications advisory committee for the State Priorities Partnership, a nationwide network of state fiscal policy think tanks. He lives in Tulsa with his wife Kara Joy McKee, who is a Tulsa City Councilor.