No income taxes for couples making $30k or less, 3.5 percent for $70k or above.
Linky
This is only a proposal and was part of Gov. Fallin's State of the State address that is still ongoing.
Thoughts?
No income taxes for couples making $30k or less, 3.5 percent for $70k or above.
Linky
This is only a proposal and was part of Gov. Fallin's State of the State address that is still ongoing.
Thoughts?
I'm fine with that if she can figure out a way to make up the lost revenue. Depending on growth is a bad idea. If she says that we're going to close loopholes, I'm fine with that so long as she knows which loopholes can be closed to make up all that money. Certainly the HUGE sacred cow of O&G won't be touched, so what are we going to do? Start taxing railroad spikes? Mushroom cartons?
Almost certainly it will be a large increase in property taxes (if TX is an example).
I would like to see where the spending cuts are to be made and what loopholes are closed. That being said I am all for getting a raise, I just don't want to see my property tax go up.To pay for the plan, the state would eliminate tax loopholes, carve-outs and other exceptions, reduce government waste and rely on economic growth, she said.
I fly fake airplanes
Not necessarily. First off, the idea I've read about so far is just tax cuts without corresponding tax hikes, except to "close loopholes," but for all we know "close loopholes" doesn't mean anything since they haven't specified any loopholes which could make up near this amount of revenue.Originally Posted by okie52
As far as raising property taxes, that'd take a supermajority of the legislature. There isn't the will to do it. They all know they'd be facing challengers from the right because just about every (R) in the legislature has campaigned on tax cuts.
Every year I either get a couple bucks back from Federal or owe them a little, but then I pay out the *** to the State. If this could have some effect on this, I would be happy. Still, as mentioned by everyone, how is she planning on recovering the lost monie$?
Also: Please spend my money the right way and I would have no need to complain. (Pipe dreams)
It takes one to know one, and I know you don't know a damn thing.
This happens to me and NP too --- whatever refund we get from the feds, we end up cutting in a check to the state. It's like they have little trolls that spy on how much we're getting from the federal government and are all like "Oh! That's EXACTLY the amount you owe Oklahoma!"
I know that the lost revenue will need to be made up somewhere. Property taxes (according to relatives and my parents) were sky high back in Wisconsin, but sales tax was only 5 percent. I used to be miffed that sales tax was like 8 percent down here... I've gotten used to it, though. Might as well be 10. It's not like anyone expects to pay the price they see advertised. We all have little calculators going off in our heads all like "$5 is actually "$5.43 in Tulsa."
Property taxes in Texas are major suckage!
Behold the pale horse. The man who sat on him was death, and Hell followed with him.
Olevet Posse Pistolero
Winner of the Nobel Peace Prize 2015.
What is the best type of tax in your opinion? Because the need for state revenue is there, the need for tax will also be there, so "none of the above" is not an option.
Sales? Property? Income?
Of the three, property seems to be the one you can control the most, so maybe that is the way to go.
An ex-boss of mine got divorced and moved to a 1,500 ft2 houseboat on Lake Travis outside of Austin. No income tax, no property tax and he installs himself in Devil's Cove (Original Girls Gone Wild site) most weekends.
I think of him as a living God.
"I don't know karate, but I know ka-razor!" - James Brown
Sales tax is inherently regressive so it is very hard on the poor and middle class. The rich of course love it.
up here in New Hampshire we have no sales tax or income tax but the property tax seems obscene. $5K a year on a 500K house. That's about times 2 what you guys pay in Oklahoma, right? Of course the state makes a ton on the lottery, and sin taxes. The one that kills me though is the State-run liquor stores. How are state-run liquor stores not an invasion of personal freedom? The States are going to get what they need out of us one way or another....
"If you don't agree with gay marriage, blame the straight people. They are the ones that keep having gay babies."
IMO there is no need for a (targeted) tax cut in okieville. Growth has been good and employment is just fine. The state budget has been difficult though so I don't see a need to even take a chance at lowering revenue or allowing a segment of the population to get out of paying taxes.
Lower expenditures first then lower taxes the fiscal year following if you're that set on lowering taxes.
I recently retired on the old Civil Service retirement plan. I don't pay any state taxes on my retirement check. Plus I own a farm, so I have enough write offs to cover the taxes on my farm income and my other contract income. In fact, I average about $4K back from the state, and about $15K from the state.
So suck it suckers.
you must be one of the loopholes Fallin wants to axe to cover lost income tax revenue, hehe
This governor is an idiot and I hope to God she is not reelected. This state's priorities are so bass ackwards, its ridiculous.
Why can't we pay our teachers more? Why can't we fix our ****ty a$$ roads for once? Oklahoma's roads are plain sh$t. Even Mississippi, a state worse than Oklahoma in the education department, has better roads than we do. If we're going to drop over 600 million on the crosstown, why not lay some tracks for a tram that would at least run through Reno across town, and say down Classen north and south bound? People would use it.
But oh no, let's put in 140 million to fix the dome! This pathetic state can't even pay their teachers a modest pay. They treat teachers, the people who educate about 90 percent of the state's children, like crap, chump change. Hell, they certainly did NOT hesitate to reneg on that 5,000 dollar bonus that was promised to teachers for achieving that certification. Hell, they should just go ahead and do away with public schools and privatize them all, that's what will eventually happen in the next decade.
If our state could raise taxes by just one to twenty cents, it would work wonders in my opinion. Hell, it worked for the MAPS projects.....Why not do it for basic infrastructure and improving education? I'll admit, the highest collegiate math course I took was Pre-calculus Algebra and I'm no math major, but it doesn't take a genius to figure out that Fallin's plan is eventually going to fail, especially if its based on "projected" growth.
I'm all for owning guns and the death penalty, but these hardcore right wingers are morons......Thank God Obama has a pretty decent shot at getting reelected, especially if the corporate puppet Romney wins the nomination.
"I was formerly a Noncommissioned Officer, part of a Corps known as the Backbone of the Army.......now I'm an Army Cadet, training to become a Commissioned Officer. Hooah......"
Bravo, sir!
I doff my hat to you and your rant.
One to twenty cents? Which will it be?
Do you remember HB1017? That was going to solve all the problems. Throwing money at lousy students doesn't seem to help. Parents raise smart kids, not schools.
For those of you curious, property taxes in Houston run about 2% of the apprasied value of the property. This includes city, county, school and other sundry taxes
Word. I remember when seeing a food stamp story about recipients complaining that they couldn't afford ice cream with their stamps anymore. Um... ok. Ice cream. I'm sure you can live without it!
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