Could Oklahoma eliminate state income tax?

[steross]

C'mon Binman, you slacker, how in the world did you let this story go by with no post?

https://kfor.com/news/oklahoma-legislature/could-oklahoma-eliminate-state-income-tax-lawmakers-disagree-on-decision/?utm_campaign=socialflow&utm_medium=referral&utm_source=facebook.com&fbclid=IwAR3qchrj2Gf7BYNeES8f6KRjKcuSghVT7atjotHG28Axd2-wUVg95hJQYqE

As I approach retirement and have a lower income, they will repeal the income tax which of course means that they will have to increase other taxes and fees to sustain government. Get me on the way in and the way out!

 

[Polds4OSU]

C'mon Binman, you slacker, how in the world did you let this story go by with no post?

https://kfor.com/news/oklahoma-legislature/could-oklahoma-eliminate-state-income-tax-lawmakers-disagree-on-decision/?utm_campaign=socialflow&utm_medium=referral&utm_source=facebook.com&fbclid=IwAR3qchrj2Gf7BYNeES8f6KRjKcuSghVT7atjotHG28Axd2-wUVg95hJQYqE

As I approach retirement and have a lower income, they will repeal the income tax which of course means that they will have to increase other taxes and fees to sustain government. Get me on the way in and the way out!

I've posted like 3-5 "Stitt is going to end income tax" stories since Stitts got in office...he only seems to want to talk about doing it come election season and he never does it

 

[andylicious]

If you will go to OMES and look at the report for August you will see it’s not affordable

 

[gopokes83]

A few years ago I saw a comparison and at that time if OK stopped the state tax the difference would still wind up being a little over 1% in Oklahoma’s favor. Not a huge difference, but still some.


Sent from my iPhone using Tapatalk

 

[Llcoolw]

You’d think with all the windfall from pot, gambling and energy extraction that gas would be .25 a gallon and every citizen gets a 10k check. No sales or income tax.

Hmmm. I think I just came up with my campaign promises.

 

[Stillwater Townie]

At least cut the income tax by something like .25% like they do every now and then. It may be harder to do, but I'd like to see the grocery sales tax repealed. Repeal restaurant meal sales taxes, too. The challenge to doing that is how are towns and counties going to make up for lost revenue? Most states don't tax food, so there is some way to do it.

Cutting all the state income tax with nothing to make up for it would be quite risky, especially if followed by a recession. Gov. Stitt is showing lack of direction and leadership by not suggesting ways to make up for lost revenue. Income taxes do make up a significant part of state tax revenues.