On 'millionaire' range, president switches tag

by The Oklahoman Editorial Board Published: November 28, 2012

Oklahoma's top rate is far better — just 5.25 percent — but it kicks in at $8,700 (or $15,000 for married couples). In Oklahoma, you can qualify for welfare and still land in our millionaires' bracket. And there are six brackets below that.

The Oklahoma Policy Institute, which generally opposes tax cuts and supports increased government spending, has endorsed reform, including raising the personal exemption and stretching out and indexing the tax brackets so more low-income people are taxed at a lower rate.

Those changes might not have much pro-growth benefit, but they deserve support simply to make Oklahoma's tax code less punitive for the poor. Such changes would not be necessary but for one fact: At both the state and federal level, calls to “tax the rich” inevitably lead to higher taxes for working families.

by The Oklahoman Editorial Board
The Oklahoman Editorial Board consists of Gary Pierson, President and CEO of The Oklahoma Publishing Company; Christopher P. Reen, president and publisher of The Oklahoman; Kelly Dyer Fry, editor and vice president of news; Christy Gaylord...
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