Supporters of income tax cuts have been touting a recent poll that purports to show strong support for tax cuts in Oklahoma. A telephone survey of 500 registered voters were asked four questions about tax cuts, tax credits, and the…
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Why Tax Cuts Are Not the Right Priority for Oklahoma
Eliminating the income tax is fiscally reckless. Once we decide to cut taxes, we cannot reverse course if things don’t work out. Credit rating and municipal bond agencies have expressed…
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Income tax provides one-third of all state revenue. The state could not provide essential services without the income tax unless other taxes were drastically increased.
Plans to shift away from income tax would take more from those already struggling to…
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Download as a pdf factsheet here.
1. Income tax provides one-third of all state revenue. The state could not provide basic, essential services without income tax revenue unless other taxes were drastically increased. State income taxes pay for salary and…
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This article appeared in the April 2012 edition of the Oklahoma Economic Report, a publication of the Office of State Treasurer Ken Miller. It is reprinted here in its entirety with permission.
It seems that each day brings another story…
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1. Higher Property Taxes. Every state without an income tax pays more in property taxes than we do in Oklahoma. In Texas, property taxes are almost three times higher. per capita. Money to fund core services has to come from…
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1. The income tax is essential to public safety funding. The income tax provides the Department of Corrections with $141.2 million, or 30.7 percent of its total appropriations. This is equivalent to the cost of incarcerating more than 9,300 inmates,…
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1. Income tax provides one-third of all state tax revenue. The state could not provide core services without the income tax unless other taxes were dramatically raised.
2. Tax cuts do not make taking care of Oklahomans in need a…
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1. Income tax provides one-third of all state revenue. The state could not provideessential services without the income tax unless other taxes were dramatically increased.
2. Oklahoma’s children are faring poorly in many areas. Almost one in four Oklahoma children…
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1. Income tax is essential to school funding. This year, Oklahoma’s public schools received $743.4 million from the personal income tax, which represents the equivalent of salary and benefits for almost 17,000 public school teachers.
2. Public education is already…
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