Nothing says “We have no money” like a good old fashioned tax cut!Seems the great state of Oklahoma has a trigger for some income tax cuts for FY 2012.
A state board approved cutting the state’s income tax rate Tuesday after approving healthier tax collection estimates for the upcoming fiscal year.
The action reduces the state’s top individual income tax rate from 5.5 percent to 5.25. The lower rate takes effect Jan. 1.
Wow - what a genius idea!! When we don’t have any money, and we’re cutting jobs and services by 3-5% statewide the best way to combat this $500 million short fall is to…. wait for it….. cut taxes. This is exactly how we should solve our problems.
Golly gee - I’m sure glad we elected someone as smart as Mary Fallin. She sure is brilliant.
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