Tag: income tax

'Flip It To Fix It' report offers an immediate, fair solution to state budget shortfalls

A study released today finds that inverting state tax structures—whereby the highest income earners would be taxed at the current percentage of income for the lowest income earners, and vice versa—would raise more than $4 billion in new revenue for… Read more [More...]

New OK Policy report lays out options for protecting Oklahoma public services

In two years of recession and slow recovery, Oklahoma’s public services have struggled to get by with less. Oklahoma families, businesses and communities are feeling the impact in far-ranging ways, including increased class sizes, higher tuition rates, fewer mental health… Read more [More...]

Tax cuts do not have to be regressive

A recent OK Policy fact sheet that analyzed the distribution of  benefits from cutting the state’s top personal income tax rate from 5.5 to 5.25 percent  has generated considerable interest and discussion. The tax cut would have a $120 million… Read more [More...]

The Weekly Wonk – March 4, 2011

What’s up this week at Oklahoma Policy Institute? The Weekly Wonk is dedicated to this week’s events, publications, and blog posts. While tax day is still over a month away, the state tax structure got some serious attention this week… Read more [More...]

Cutting the top income tax rate: Who benefits?

[UPDATE: You can download ITEP’s analysis here.] Yesterday the Senate voted to abolish the state income tax after Sen. Tom Adelson (D-Tulsa) introduced the measure as an amendment to another bill. With public services heavily dependent on income tax and… Read more [More...]

Back to Texas? Income tax proposal stirs up some old memories

“Imagine never having to file an Oklahoma income tax form again, and having no more state income tax withheld from your paycheck.” This is the scenario floated recently in a press release by David Dank, the Chair of the House… Read more [More...]

Citizens for Tax Justice questions Oklahoman's defence of state income tax break

Last week, the Oklahoman published a “Tax Day” editorial addressing OK Policy’s recent contributions to the debate on the state budget crisis. They began by emphasizing our common ground: Along with the Oklahoma Policy Institute’s David Blatt, we’ve been urging… Read more [More...]

Bridging the Gap (2): Closing the circle on the state income tax deduction

As Oklahoma faces record budget shortfalls, the threat of massive cuts that would slow the state’s economic recovery and have potentially devastating effects on schools, social services, and public safety loom large. In this context, there is an urgent need… Read more [More...]

Crossing the Threshold: Families in poverty no longer paying state income tax

An interesting new report from our friends at the Center on Budget and Policy Priorities looks at whether families with income below the federal poverty level (FPL) in each state are subject to state income taxes. It finds that for… Read more [More...]

Less bang for the tax cut buck

Mickey’s Musings, the policy blog of UCO Economics Professor Mickey Hepner, is consistently one of the best local sources for credible information and thoughtful opinion on economic and fiscal issues facing Oklahoma and the nation. One of Mickey’s favorite themes,… Read more [More...]