Each year, hundreds of bills and tax-related initiatives are approved that, when viewed independently, may not seem to have a significant impact. Yet by not connecting the dots of various actions when it comes to public schools, the picture of Oklahoma education becomes disturbingly distorted. If citizens don’t start connecting the dots, a true picture […]
tax cuts
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Miracle on 23rd Street: a tax cut
The long-expected agreement on this year’s scheme proposes to drop Oklahoma’s personal income tax rate from 5.25 percent to 5 percent effective Jan. 1, 2015. The net effect will be to provide a family of four earning about $40,000 an additional 50 cents a day in their pockets. This is not even “trickledown” economics, it’s […]
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Accord struck
Fallin joined House Speaker T.W. Shannon, R-Lawton, and Senate President Pro Tempore Brian Bingman, R-Sapulpa, yesterday afternoon to announce an agreement on those measures, which still must receive approval from the full House and Senate. “We’ve been working on common goals to create a more vibrant environment for our citizens and businesses,” Fallin said at […]
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Sound off, voters!
In 2012, Barack Obama was reelected with 50.5 percent of the popular vote and 332 electoral votes. He wants to restore taxes on the wealthiest 2 percent to the level before the Bush tax cut, but protect the bottom 98 percent from a tax increase, including households and businesses with incomes under $250,000. Sixty percent […]
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Deal or no deal
Brad Gregg Fallin and the Republican legislative leadership heaped congratulations on themselves at a May 18 news conference. The gov called it “an important step forward for Oklahoma,” while House Speaker Kris Steele said legislators had decided to give taxpayer money “back to the hardworking people of Oklahoma.” Senate President Pro Tempore Brian Bingman proclaimed […]
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Proceed with caution
Larkin Warner As reported in state Treasurer Ken Miller’s January Oklahoma Economic Report, their mission was to emphasize the positive performance of the state’s economy to officials of the three main bond rating agencies. Oklahoma’s general obligation bond ratings were already relatively high, but even higher ratings would mean lower future borrowing costs. For example, […]