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Economic Freedom
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Tax Cut Effects on Sales Tax Revenue

April 16, 2018 - 12:03pm CDT

In a recent article, I showed that income tax cuts cannot explain Oklahoma’s recent budget challenges. And it was not only income tax revenue that increased after income tax cuts. Since 1991, income tax revenue has grown by $2.39 billion as the tax rate fell from 7% to 5%. Data from the Oklahoma Tax... READ MORE

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Capital Gains Volatility

April 13, 2018 - 3:19pm CDT

The drop in oil prices that began at the end of 2014 challenged Oklahoma’s economy and, in turn, the state’s budget. A phrase often heard when discussing this is that Oklahoma needs more stable revenues. This could be done by relying on less volatile sources of revenue, or it could happen as a resul... READ MORE

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Gov. Henry on Capital Gains

April 7, 2018 - 9:58pm CDT

In his Fiscal Year 2005 Executive Budget, former Gov. Brad Henry recommended a full exemption from the individual income tax for all capital gains resulting from Oklahoma business interests or property held for five years or more. “A key to economic growth, and especially wage and income growth, is... READ MORE

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Capital Gains Taxes: Facts & Myths

April 6, 2018 - 4:54pm CDT

In 2004, Oklahoma voters exempted some investments from the state income tax on capital gains. What does that mean? How does it work? And what about claims that this is a “handout” or only for “the rich”? Fact: “Capital gains” is what you get when you own a house, rent property, other types of ... READ MORE

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Should Oklahoma Ask More of Tribal Casinos?

April 3, 2018 - 10:25am CDT

The state of Oklahoma leaves some of its chips on the table and walks away, according to a new editorial at NonDoc. In Connecticut, state coffers receive 25 percent of slot-machine revenues, roughly five times as high a percentage as Oklahoma. In New York, an expansion of tribal gaming in 2013 incl... READ MORE

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The Tax Cut Blame Game

March 22, 2018 - 4:26pm CDT

Those who want higher taxes generally blame past tax cuts for Oklahoma’s recent budget challenges. They cast particular blame on cuts to state income tax rates. While OCPA has questioned the severity of these challenges, we have also researched the connection between tax cuts and revenue. Data from... READ MORE

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A Look at February’s Economic Report

March 16, 2018 - 9:19am CDT

The Oklahoma Treasurer’s monthly economic report, released this week, highlights February revenue collections. The report provides a breakdown of total gross receipts collected during the month along with various economic indicators for the state of Oklahoma. Total gross receipts collected by state... READ MORE

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ROI: Help Hollywood or Help Kids

March 12, 2018 - 10:33am CDT

The Oklahoma Film Enhancement Rebate Program and the Oklahoma Equal Opportunity Education Scholarship Act each share similar financial parameters, which makes it easy to compare these tax incentive programs. In fiscal year 2016, both programs had a cap of $5 million. The film rebate is paid out to f... READ MORE

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Off the Top, Off the Charts

February 28, 2018 - 1:08pm CST

Total state appropriations and total state spending are not the same thing. Conversations about the state budget and how much agencies have to spend often focus on a number near $7 billion. This number is only appropriations, not total spending. Appropriations is what the Legislature is authorized ... READ MORE

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Will Cigarette Tax Revenues Go Up in Smoke?

February 21, 2018 - 8:52am CST

Headlines often give the game away when it comes to agenda-driven journalism. Such is the case with “Somebody says” headlines, where the “somebody” is invariably pushing a point of view shared by the reporter. And so both the Tulsa World and The Oklahoman recently provided: “Health care advocates sa... READ MORE

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