collected $12.18 billion this year, $73 million more than last year. This trickle down stuff from trump looks to be working. Everybody wins with a good economy. With oil around $75 everybody can live with that.
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State of Oklahoma has record tax revenues
- Thread starter purkey
- Start date
Does that mean we can get rid of the tax increases and still pay the teacher raise? If so... win win.
For once Donald was wrong. I don't get tired of the winning. #MAGAeconomy
For once Donald was wrong. I don't get tired of the winning. #MAGAeconomy
Obviously just trickle down from increased green fees.
Where did the rise in revenues come from? Personal income tax? Corporate? Gross Production? Property?
Still waiting for that $73 million check dammit. I’ve got nonrefundable one-way tickets to the Caribbean lined up, ready to sip on pina coladas with little umbrellas.
If that's the route you're going, I REFUSE to allow you to butcher local rums by putting them in pina coladas. I'll prepare you a real rum drink list. You just have to bring me back some rums when you come home to visit.
“During 2017, lawmakers approved revenue-raising measures that changed sales tax exemptions and tax incentives on the production of oil and gas, which is also known as gross production. The new revenue accounts for more than 3 percent, or $33.8 million extra during the month of June alone.
Since August of last year, those revenue changes have brought in $308.5 million more for state programs and services than Oklahoma would have without them.
Tax increases on cigarettes, fuel and gross production that were signed into law in late March took effect July 1, and will have no impact on collections until next month's report.”
https://newsok.com/article/5600296/oklahoma-beats-cash-collection-record
Since August of last year, those revenue changes have brought in $308.5 million more for state programs and services than Oklahoma would have without them.
Tax increases on cigarettes, fuel and gross production that were signed into law in late March took effect July 1, and will have no impact on collections until next month's report.”
https://newsok.com/article/5600296/oklahoma-beats-cash-collection-record
That last recession was the last one. Spend spend spend because there will be no more downturns.
Well, DUH! That’s why it’s called the “last recession”.
Nice to see a non inflammatory and non serious rebuttal. Kudos.
here are some factual numbers...spin away!
THE announcement this week that Oklahoma’s state gross receipts to the treasury have hit an all-time high would normally be celebrated from the rooftops by state politicians. But for the most part that hasn’t happened, perhaps because the tax collection surge contrasts so starkly with the “sky is falling” rhetoric of so many.
State government’s budget year runs from July to the end of the following June. In the just-concluded 2018 fiscal year, gross receipts to the treasury increased by $1.2 billion, or 11.1 percent, compared with 2017. Gross receipts have experienced positive growth for 15 consecutive months. Twelve-month collections have been higher than the previous period for 11 months in a row now.
Just $308.5 million of the $1.2 billion increase was due to tax increases approved by the Legislature in 2017. Put another way, collections would have surged dramatically even had no tax increases been approved.
Some lawmakers will argue that a little less than half of gross receipt collections are deposited into the state’s general revenue fund, which is used for legislative appropriations. Yet much of the remainder is separately apportioned “off the top” by lawmakers and spent outside the appropriation process, and the disbursement of much of the total amount is still controlled by legislators through state law.
Regardless, tax collection growth suggests lawmakers’ claims of imminent financial doom had more in common with Chicken Little’s warnings in the original folk tale than lawmakers would like to admit.
You expect @CSCOTTOSUPOKES to reply to facts? Still waiting for him to go back to the jobs report thread and own up to being an idiot.
Would be encouraging to see you remember the reaction to an ingratiating post like this that makes you an insider to the board instead of trying allways to be the villain.
