Subscribe to OK Politechs

Enter your email address to subscribe.



Governor Fallin’s Misleading Tax Cut

I don’t agree with much at all of what the Oklahoma Policy Institute puts out, but their information about the recent tax cut legislation passed by the Oklahoma legislature and signed into law by Governor Fallin is right on the money. Opinions about policy can vary, but numbers don’t lie.

I’ve looked at the new tax rates in House Bill 2032 and I’ve run the numbers against the tax rates in this year’s form 511 – the Oklahoma individual income tax form. What the numbers tell me is that the things being said by Governor Fallin, Speaker of the House T.W. Shannon and others are highly misleading. Do you think you’re getting a tax cut? Unless you’re on the poverty level, you are, but let’s see how much.

Below is a chart from the OK Policy Institute’s post about the tax cut. It’s accurate. As you can see, if you make between $19,500 and $36,400 your tax cut is […] → Keep reading