Tag: tax cuts

The sure path to economic prosperity

What is the best course for strengthening Oklahoma’s economy and providing broad-based benefits for Oklahoma families? Proponents of cutting or eliminating the state’s personal income tax claim that doing so will boost the state’s economy. However, as University of Oklahoma… Read more [More...]

Tax cuts of the mid-2000’s did not spark revenue growth

[NOTE: This post has been corrected to fix an error in the units used when describing the price of oil.] Despite frequent claims by proponents of cutting or eliminating Oklahoma’s personal income tax , it is a myth that tax… Read more [More...]

The terrible thing about triggers

Lawmakers began the year promising large, immediate cuts to the income tax, but their hopes soon collided with budget reality. With state funding already falling behind Oklahoma’s needs in many areas, legislators have found no easy way to pay for… Read more [More...]

Guest Blog (Steve Ellis): Evidence and Ideology: Beyond ECON 101

Stephen Ellis, Ph.D., is Associate Professor in the Department of Philosophy at the University of Oklahoma. His research areas include philosophy of economics, decision theory, philosophy of mind and ethics. The debate about the degree to which economics supports drastic… Read more [More...]

Watch This: Is eliminating the income tax the silver bullet or fool's gold?

On April 5, OK Policy sponsored a forum of leading Oklahoma economists, economic developers, and budget experts to discuss plans to reduce or eliminate the state income tax.  The eight speakers exposed fundamental flaws in the research being used to… Read more [More...]

Stumbling revenue collections should signal caution

Over the past two years, Oklahoma’s revenue collections have been on a steady path to recovery. For the first nine months of FY 2012, collections to the General Revenue fund (GR) are up 22 percent compared to the same period… Read more [More...]

Guest Post (Ken Fergesen): Taxes are essential for Oklahoma's quality of life

Ken Fergesen, a resident of Altus, is Chairman of NBC Oklahoma, and is active in banking, farming, civic, social and cultural organizations.. He is a past President of the State Chamber of Commerce. I am really concerned about our State. … Read more [More...]

Action Alert: It's time to make your voice heard on tax cuts

The income tax has been the top subject of debate this legislative session. Governor Fallin and some legislative leaders have promoted “bold proposals” to cut, and ultimately repeal, the state personal income tax.Yet after three straight years of budget cuts,… Read more [More...]

The "tax cut" bait and switch

As they ponder plans to cut Oklahoma’s top income tax rate, most lawmakers admit the state cannot afford a cut without eliminating many other tax breaks. They emphasize that we should close loopholes for corporate “special-interests.” Yet as details of… Read more [More...]

Surprise! States without an income tax have higher sales and property taxes

States without an income tax rely on other taxes to fund government. Far from discovering magical, revenue boosting powers by not having an income tax, these states simply charge higher sales and property taxes. A new report from the Center… Read more [More...]