Tags: Oklahoma | income | tax | legislature

Okla. Tax Group Warns Against Low-, High-Income Contrasts

Monday, 14 Mar 2011 02:48 PM

The Oklahoma Council for Public Affairs, which supports eliminating the state income tax, cautioned against comparing how an impending quarter-percent income tax cut would benefit high- and low-income households.

Nearly three-quarters of the $120 million tax cut would go to what are considered the wealthiest 20 percent of households in Oklahoma— those with earnings of more than $86,000 a year — according to an analysis by the Institute on Taxation and Economic Policy for the Tulsa-based Oklahoma Policy Institute, the Tulsa World reported Monday.

The public affairs council’s Jonathan Small told the newspaper that it make sense that tax cuts would bring greater net benefit to wealthier taxpayers.

“If you lower the rate, people who pay in more money are going to get more back," Small said.

Small warned against making comparisons with lower income taxpayers.

"You're making an assumption that, because someone works hard and makes more money, they should pay more," he said. "If you have less money, everything is going to take a bigger percentage of your income.

"I don't think it's fair to say a tax cut is not going to benefit everybody," Small said.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
The Oklahoma Council for Public Affairs, which supports eliminating the state income tax, cautioned against comparing how an impending quarter-percent income tax cut would benefit high- and low-income households. Nearly three-quarters of the $120 million tax cut would go...
Oklahoma,income,tax,legislature
188
2011-48-14
Monday, 14 Mar 2011 02:48 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved