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Republicans lose chance to cut Oklahoma's personal income tax Published: Sun, May 27, 2012 When the session started in February, it seemed inevitable that the personal income tax cut would be reduced. The Republican-controlled Legislature and the GOP governor all supported reducing the tax, but weren't prepared for the opposition they received. Read More
Oklahoma's personal income tax rate won't be cut this year Published: Fri, May 25, 2012 Gov. Fallin says she won't call a special session. House and Senate Republican legislative leaders are deadlocked. Read More
Republican base takes a hit with GOP-backed tax cut Published: Wed, May 23, 2012 REPUBLICANS usually claim the mantle of the “family friendly” political party through support for traditional values and policies that benefit parents with young children. That reputation may take a hit thanks to the GOP tax-cut plan. The plan includes both a rate reduction and the loss of some middle-class... Read More
Report card gives Oklahoma high mark for small-business friendliness Published: Mon, May 21, 2012 Oklahoma's Southern hospitality extends to our small-business climate. A recent nationwide survey of entrepreneurs provided a generous helping of good news as the state achieved an overall rank of third. The report card from Thumbtack.com and the Kauffman Foundation awarded Oklahoma an A+ for overall... Read More
Income tax-cutting proposal faces stiff test in Oklahoma House Published: Sun, May 20, 2012 Enough unhappy House Republicans could join with House Democrats to kill the proposal worked out last week by Republican legislative leaders and the Oklahoma governor. Read More
Oklahoma budget writers shouldn't worry about winning sound-bite war Published: Thu, May 17, 2012 ONE sign that the end of the legislative session is near: the theatrics escalate. This week's Senate Republican news conference provides proof positive. Senate GOPers announced a plan to cut Oklahoma's income tax a half-point over two years, lowering the rate to 5 percent and then to 4.75 percent. They would... Read More
Oklahoma Senate Republicans unveil tax-cutting plan Published: Wed, May 16, 2012 Their action catches House Republicans and the GOP governor, who have been holding secret talks with the Senate Republicans, off guard. House Republican leaders and the governor's office said negotiations will continue to come up with an income-tax cut. The legislative session ends May 25. Read More
Opinions of ordinary Oklahomans have helped shape tax cut debate Published: Sun, May 13, 2012 TAXES don't redistribute wealth. They redistribute people. So says professor Arthur Laffer, the inspiration for the most far-reaching proposals on Oklahoma income tax reform. The conundrum for Laffer's believers is this: How do you redistribute opinions about tax cuts, from the general to the specific? In... Read More
Governor urges Oklahoma lawmakers to cut state's personal income tax rate Published: Fri, May 11, 2012 Oklahoma Gov. Mary Fallin said she would like lawmakers to agree to a significant tax cut, saying Kansas legislators have passed a measure that would put that state's top personal income tax rate below Oklahoma's. Read More
Debate over tax cuts shouldn't end with Oklahoma legislative session Published: Sun, May 6, 2012 TAX credits have become the Mark Twain of Oklahoma politics: Reports of their demise have been greatly exaggerated. Officials have now acknowledged what's been obvious for weeks: Lawmakers lack the political will to eliminate most credits. The decision also means lawmakers won't approve a major tax cut. Gov. Mary... Read More
Text of Obama's State of the Union address Updated: Tue, Jan 24, 2012 Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests and fellow Americans: Last month, I went to Andrews Air Force Base and welcomed home some of our last troops to serve in Iraq. Together, we offered a final, proud salute to the colors under which more than a million of our fellow citizens... Read More
Understanding the kiddie tax Published: Mon, Jan 23, 2012 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
It pays to seek expert advice Published: Mon, Dec 5, 2011 DEAR BRUCE: My hobby is playing with the stock market. I don't believe you need to be wealthy to make some investments. I have $1,600 in a mutual fund and $950 in various stocks. I watch these daily, and it seems I know when to hold them and when to fold them. I put $50 a month in my mutual fund and invest $60... Read More
Will my children own my debt? Published: Tue, Nov 8, 2011 DEAR BRUCE: I am 81 and have foolishly let my credit cards get to a total of $35,000. About five years ago, I did a reverse mortgage on my house. The interest now has brought it up to more than what the house is worth. I had planned to use the money to remodel my bathroom, which I did, and I took a couple of trips.... Read More
Savage Truth on Money: Understanding the Kiddie Tax Updated: Fri, Jan 14, 2011 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
The Savage Truth: Understanding the Kiddie Tax Updated: Sat, Dec 18, 2010 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
Understanding the Kiddie Tax Published: Wed, Jan 20, 2010 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who could... Read More
Understanding the Kiddie Tax Updated: Wed, Nov 18, 2009 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who could... Read More
Task force would study corporate tax Updated: Fri, May 26, 2006 A task force formed through a resolution passed by the state House on Thursday will look to reform the state's corporate income tax structure. House Concurrent Resolution 1079, by Rep. Randy Terrill, R-Moore, would create an 11-member Advisory Task Force on Oklahoma Corporate Income Tax Reform. Terrill said the... Read More
Henry discusses plans for term Updated: Sun, Dec 15, 2002 Gov.-elect Brad Henry will face one of the worst budget crises in state history when he takes office next month. Henry sat down last week with editors and reporters at The Oklahoman to talk about his views on a variety of issues. He has definite ideas about taxes, budget cuts and improving education in the wake of... Read More
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