1889 Institute: Oklahoma’s tax system can be improved

PRINCIPLES FOR SOUND TAX POLICY Oklahoma’s tax system can be improved. OKLAHOMA CITY, OK (July 15, 2021) – The 1889 Institute has published “The Why and How of Sound Tax Policy,” an exploration into the principles that should be followed in formulating tax policy. The study’s author, Luke Tucker, who is a PhD candidate in Philosophy at the University of Oklahoma, as well as 1889 Institute intern, looked across the ideological spectrum, and found an amazing amount of consensus among economists on this issue. He found that there are only four basic principles that should be followed in formulating tax policy: - Neutrality – keep taxes from fundamentally changing economic calculations  - Transparency – make it so people know what they are paying in taxes - Simplicity – make it easy to comply with tax law - Predictability – make it so it is easy to know what one will owe in taxes. “Luke brought a fresh set of eyes to this issue, taking nothing for granted and assuming nothing in advance,” said Byron Schlomach, director of the 1889 Institute and himself a PhD economist. “Luke did an excellent job of looking deeper and explaining why these principles matter.” Read more » by Jamison Faught - September 24, 2021 at 09:53AM

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