KCCU News
Group Criticizes Oklahoma Lawmakers Decision to Cut Income Taxes
The Oklahoma Policy Institute says its figures are based on historical growth in personal income taxes over the last 15 years.
The Oklahoma City-based institute says that between fiscal year 1992 and fiscal year 2006, income taxes grew 7.5 percent. But it said those taxes grew by only 0.4 percent the last two years after tax cuts took effect.
Advocates of tax cuts had predicted they would spur economic development, bringing in more revenue to state coffers. © Copyright 2009, kccu-fm
(2008-09-03)
OKLAHOMA CITY, OK
(kccu-fm) -
A think-tank that advocates for the poor says Oklahoma lawmakers would have had $400 million to $600 million more to spend on education and other programs the last two years if not for income tax cuts. The Oklahoma Policy Institute says its figures are based on historical growth in personal income taxes over the last 15 years.
The Oklahoma City-based institute says that between fiscal year 1992 and fiscal year 2006, income taxes grew 7.5 percent. But it said those taxes grew by only 0.4 percent the last two years after tax cuts took effect.
Advocates of tax cuts had predicted they would spur economic development, bringing in more revenue to state coffers. © Copyright 2009, kccu-fm

