Small: For economic growth, personal income tax matters most

For economic growth, personal income tax matters most By Jonathan Small With Democrats holding Congress and the White House, most officials expect states to soon receive yet another round of federal bailout funding. That will translate into hundreds of millions of dollars flowing into Oklahoma government. Without doubt, that federal policy is wasteful and will encourage state governments to also be wasteful. But Oklahoma can make lemonade from these lemons. As federal funds slosh into our state, Oklahoma lawmakers should simultaneously use un-earmarked state funds to strategically reduce Oklahoma’s personal income tax. That will put the state on a path to strong economic growth and job creation and make us more economically competitive with Texas, Florida and Tennessee. The data make clear the single biggest advantage those three states hold over Oklahoma is that they do not impose a personal income tax. Read more » by Jamison Faught - March 04, 2021 at 01:19PM

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