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Unhappy returns: Ending tax ‘loophole’ not a good approach

THE OKLAHOMAN EDITORIAL | Modified: April 15, 2010 at 4:15 am | Published: April 15, 2010

A "little bit of an uptick” is how state Treasurer Scott Meacham described March revenue collections, which were higher than they were in the comparable month of 2009. But two consecutive months of positive revenue news doesn’t a recovery make. Along with the Oklahoma Policy Institute’s David Blatt, we’ve been urging lawmakers to use the downturn to find sensible new sources of revenue (such as ending or capping ineffective tax credits) and to better prepare for the next downturn.

photo - In this Monday, Feb. 2, 2009 file photo, Oklahoma State Treasurer Scott Meacham is pictured during a news conference in Oklahoma City. (AP Photo/Bill Waugh, File)

In this Monday, Feb. 2, 2009 file photo, Oklahoma State Treasurer Scott Meacham is pictured during a news conference in Oklahoma City. (AP Photo/Bill Waugh, File)

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Article Gallery: Unhappy returns: Ending tax ‘loophole’ not a good approach

As Tax Day 2010 approached, Blatt offered an idea that would generate $118 million a year in additional revenue — more than what the state took in from personal income taxes last...
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