OKLAHOMA REVENUES ROSE AS TAX RATE FELL

new google-game March 11, 2024 10:46 am 24views 0comments

Over the past 20 years, Oklahoma has steadily reduced its income tax rate from 7 percent to 4.75 percent. That’s a 32 percent reduction in the income tax rate.

During that time state revenue (adjusted for inflation) has grown by 45 percent.

Growing the size of government is never the goal of tax cuts, of course. But the deficits predicted by tax cut opponents have not materialized.

Sources: Oklahoma Annual Comprehensive Financial ReportsCPI Inflation Calculator. State revenue data does not include federal funds.

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