Fallin cuts top tax rate, says state revenue growth is enough.

[nathanm]

Oklahoma voters also overwhelmingly support medical marijuana and a bit over half support decriminalization, but what are the chances of any action on that in the legislature? The people's opinion seems to be completely irrelevant to most of our state officials, elected or not.

[Townsend]

March Oklahoma Revenue Misses Mark by 9.1 Percent

http://kwgs.com/post/march-oklahoma-revenue-misses-mark-91-percent

OKLAHOMA CITY (AP) — Oklahoma's finance secretary says collections by the general revenue fund fell 9.1 percent below the official estimate in March.

Secretary of Finance Preston Doerflinger said Tuesday the state experienced another month of unusually low corporate income tax revenue. Doerflinger says that the decline followed a major increase in tax credit claims.

March collections totaled $413 million, which is $41 million, or 9.1 percent, below the official revenue estimate upon which the fiscal year's state budget is based.

Doerflinger says March's weak collections rekindled the possibility of mandatory cuts for all state agencies for the budget year that ends on June 30.

Collections totaled $3.9 billion during the first three quarters of the current fiscal year. That's $215 million, or 5.2 percent, below the official estimate for the nine-month period.

[heironymouspasparagus]

Oklahoma voters also overwhelmingly support medical marijuana and a bit over half support decriminalization, but what are the chances of any action on that in the legislature? The people's opinion seems to be completely irrelevant to most of our state officials, elected or not.

On one topic the people's opinion is different from state officials.  For the most part - as shown by what...about 65% vote for Failin' both times - this state loves the status quo of the people in office now.  We are the reddest of the red....and THAT is why we don't keep GM (OKC), don't get Micron Technology, and how many others?   When you have a company representative saying that dealing with state officials is like dealing with kindergartners - how can anyone expect world class results from "amateur hour" efforts??  Until we get smart enough to quit electing these people, it will be ongoing.  And we never will quit electing these people....


Just a couple days ago we voted to penalize an entire industry that has been - finally - very slowly making some progress here - solar and wind power.  We is gonna protects our oils and gas industry irregardless of what ever-one else thunks.

Really curious to see Google's reaction to this....their existing facility will be exempt, but will the 'new' one they were obviously thinking about??  
Will exceptionally low wage costs overcome their principals?

[Townsend]

Oklahoma House Passes Income Tax Cut Legislation

http://kwgs.com/post/oklahoma-house-passes-income-tax-cut-legislation

OKLAHOMA CITY (AP) — Legislation that would trim Oklahoma's personal income tax rate when state revenue increases has been approved by the state House.

House members voted 54-40 for the Senate-passed measure that is one of Republican Gov. Mary Fallin's top goals for the 2014 Legislature. It now goes to Fallin to be signed into law.

The measure will reduce the personal income tax rate from 5.25 percent to 5 percent in 2016 if state revenue projections are greater than projections in December 2014.

If growth continues, then a second reduction will take place lowering the rate from 5 percent to 4.85 percent no sooner than two years after the 5 percent rate is enacted, providing that there is sufficient revenue to cover the cost of the reduction.

[Townsend]

Oklahoma Poverty Rate Down Slightly

So that's good...

http://publicradiotulsa.org/post/oklahoma-poverty-rate-down-slightly

Oklahoma's poverty rate dips slightly but remains in the bottom third nationally.

Today, 16.8 percent of Oklahomans live in poverty, down from 17.2 percent last year. Rachel West with the Center for American Progress said the fastest way to lift families out of poverty is raising the minimum wage.

"Fifty-seven percent of total family income in minimum wage earners' families actually comes from that minimum wage job," West said. "So these are not teenagers that are working these jobs. This is a very real issue for families."

And though the state's poverty rate is down a little, high racial disparities remain.

While about one in six Oklahomans live in poverty, one in four of the state's Latinos and one in three black Oklahomans do. West said starting with children is the ideal way to address disparities.

"In that regard, I think raising parents' earnings but also investing heavily in education are smart policy options for eradicating this differential in the future," West said.

West said Oklahoma's universal pre-K program is a wise investment, as educational attainment is tied to poverty reduction.

The nation's lowest poverty rate is eight-point-seven percent in New Hampshire. The poverty line is just under $24,000 for a family of four.

[sauerkraut]

I don't favor legalized pot, we have enough people in public who have foggy brains, without making pot legal and get many more altered brains in public not to mention drivers on pot, on top of of drivers on alcohol and other drugs. Legalized pot will jump our car insurance rates too. The whole idea of pot is to alter your brain and zone out. I do favor income tax cuts and wish Mary Fallin would get rid of Oklahoma's income taxes, income taxes are bad all all around and choke investments. 7 states currently have no state income tax. Tax cuts attract companies and jobs to Oklahoma. They expand the economy. That's how you grow the economy. Raising taxes kills the economy and drives companies and their jobs out of the state or overseas.

[RecycleMichael]

Your views are too simple. Taxes don't simply kill jobs. Tax cuts don't simply create jobs.

I fear the world is a little more complex than you can handle.

[sauerkraut]

Your views are too simple. Taxes don't simply kill jobs. Tax cuts don't simply create jobs.

I fear the world is a little more complex than you can handle.

This is not rocket science. If you ran a business and had to deal with state taxes and regulations and then federal taxes and federal regulations and the EPA always breathing down your back, the thought of moving your company to China will be pretty inviting. The USA has one of the worlds highest copr. tax rates of something like 35%. Is it any wonder Burger King moved to Canada and other companies are shifting their headquarters overseas?

[RecycleMichael]

If you were founded in America and the vast majority of all your locations, customers and sales are in America, you should be paying taxes in America.

I consider what Burger King is doing to be treason. Because they don't want to pay their share, others like me will have to pay more.

I will no longer eat at their restaurants. Their food sucked anyway.

You can make them tax heroes and eat there three times a day for all I care. 

[heironymouspasparagus]

I don't favor legalized pot, we have enough people in public who have foggy brains,

You mean like yours...


As for the rest of that mess you posted - as always reality is much different.

[sauerkraut]

If you were founded in America and the vast majority of all your locations, customers and sales are in America, you should be paying taxes in America.

I consider what Burger King is doing to be treason. Because they don't want to pay their share, others like me will have to pay more.

I will no longer eat at their restaurants. Their food sucked anyway.

You can make them tax heroes and eat there three times a day for all I care.  

Maybe if Obama cut taxes Burger King would be staying and it would help draw in more companies form overseas, instead of companies leaving the USA they would be coming here. Talk about treason, High taxes are not what our founders wanted. I used to work at a company called KeyStone Columbia in Warren, Michigan back in the 1970's they made electrical boxes, panels and wireways it was a union shop, they moved across the state line to Freemont Indiana in the far north eastern corner of the state, just south of the  Michigan state line the reason for the move was the high taxes in Michigan and regulations and this was way back  in the 1970's. Michigan was run by democrats for decades and look at the result it's no paradise. Obama wants to make our whole country just like Michigan and companies won't have any place (or other states) to move to except overseas. Obama's policys chase jobs away..

[Hoss]

Maybe if Obama cut taxes Burger King would be staying and it would help draw in more companies form overseas, instead of companies leaving the USA they would be coming here. Talk about treason, High taxes are not what our founders wanted. I used to work at a company called "KeyStone Columbia in Warren, Michigan back in the 1970's they made electrical boxes, panels and wireways it was a union shop, they moved across the state line to Freemont Indiana in the far north eastern corner of the state, just south of the  Michigan state line the reason for the move was the high taxes in Michigan and regulations and this was way back  in the 1970's. Michigan was run by democrats for decades and look at the result it's no paradise. Obama wants to make our whole country just like Michigan and companies won't have any place (or other states) to move to except overseas. Obama's policys chase jobs away..

Last time I checked, the President doesn't control the purse strings.  It's also been proven that trickle-down doesn't work.

Just like Mary Fallin really has nothing to do with how the state does economically.

But the uneducated/indoctrinated don't know the difference.

[Townsend]

Obama's policys chase jobs away..

Which policies specifically?

[Red Arrow]

It's also been proven that trickle-down doesn't work.

It seems to work as well as the "War on Poverty".

[RecycleMichael]

It's also been proven that trickle-down doesn't work.

Trickle down really means tinkle on.