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  1. #101

    Default Re: Oklahoma Economy

    Quote Originally Posted by Plutonic Panda View Post
    I am not advocating going the California way in regards to our taxes but I think Oklahoma could stand to have higher taxes in many areas and a tax reform in general eliminating income tax as part of that.
    Curious as to how? Property tax increase?

  2. #102

    Default Re: Oklahoma Economy

    Quote Originally Posted by jonny d View Post
    Curious as to how? Property tax increase?
    I'm not an expert in this field so I don't know what taxes would be best. What I do know is that Oklahoma is one of the lowest taxed states, ranks at the bottom for education, roads, mental health services, and many other sectors... and cities are constrained to using sales tax for most operations. There are other issues highlighted with Oklahoma's tax structure, but I see a need for change which would include better management of funds and a modest raise in taxes.

    I would like to see the fuel tax doubled and current fuel taxes go strictly to roads and freeways. I also think a modest increase in property taxes could be an idea.

  3. #103
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    Default Re: Oklahoma Economy

    Quote Originally Posted by Plutonic Panda View Post
    I am not advocating going the California way in regards to our taxes but I think Oklahoma could stand to have higher taxes in many areas and a tax reform in general eliminating income tax as part of that.
    I don't see how the state income tax can be eliminated, since there doesn't seem much agreement on what to replace it with. Putting sales taxes on services as a way to do it seems to be a non-starter. Raising property taxes wouldn't be popular, either.

    It would be nice to eliminate sales tax on food, but once again taxing services to make up for it isn't acceptable, especially at the state capitol. Maybe the people need to be given a chance to vote on it.

  4. #104

    Default Re: Oklahoma Economy

    If you take away the sales take which funds cities then where does the revenue come from to pay for city services?

  5. #105

    Default Re: Oklahoma Economy

    Quote Originally Posted by oklip955 View Post
    If you take away the sales take which funds cities then where does the revenue come from to pay for city services?
    I don't think Bunty is proposing eliminating sales tax, only sales tax on food which I agree with. But to your question, I think Oklahoma is due for a tax reform as well as a constitutional convention.

  6. #106

    Default Re: Oklahoma Economy

    Quote Originally Posted by Bunty View Post
    I don't see how the state income tax can be eliminated, since there doesn't seem much agreement on what to replace it with. Putting sales taxes on services as a way to do it seems to be a non-starter. Raising property taxes wouldn't be popular, either.
    I think you might be able to get by raising property taxes if you eliminate income taxes.

  7. #107

    Default Re: Oklahoma Economy

    Quote Originally Posted by Bunty View Post
    I don't see how the state income tax can be eliminated, since there doesn't seem much agreement on what to replace it with. Putting sales taxes on services as a way to do it seems to be a non-starter. Raising property taxes wouldn't be popular, either.

    It would be nice to eliminate sales tax on food, but once again taxing services to make up for it isn't acceptable, especially at the state capitol. Maybe the people need to be given a chance to vote on it.
    Do not want it going for vote (even though I know it will have to). Rural OK has proven time and time again that they do not want change.

  8. Default Re: Oklahoma Economy

    Quote Originally Posted by Plutonic Panda View Post
    I don't think Bunty is proposing eliminating sales tax, only sales tax on food which I agree with. But to your question, I think Oklahoma is due for a tax reform as well as a constitutional convention.
    OK legislature sucks at this too, from Ballotpedia:

    Section 2 of Article XXIV of the Oklahoma Constitution says that the question of whether to hold a convention must go on the Oklahoma ballot every 20 years. However, the last time Oklahomans voted on such a question was in 1970. According to the State Constitutional Convention Clearinghouse, "Since 1970, Oklahoma’s legislature has refused to follow its Constitution with regard to this provision. In 1994, it placed a referendum on the ballot to eliminate this requirement, but the people of Oklahoma defeated it. Since 1990, many bills have been introduced to implement this part of the Constitution but none has passed."

  9. #109

    Default Re: Oklahoma Economy

    The bulk of some cities sale tax is sales tax from food. How would these cities survive and provide services the bulk is fir and police.

  10. #110
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    Default Re: Oklahoma Economy

    Quote Originally Posted by oklip955 View Post
    The bulk of some cities sale tax is sales tax from food. How would these cities survive and provide services the bulk is fir and police.
    The majority of states don't have a sales tax on food. How do cities there make it? I don't know.

  11. #111

    Default Re: Oklahoma Economy

    Quote Originally Posted by Bunty View Post
    The majority of states don't have a sales tax on food. How do cities there make it? I don't know.

    Oklahoma is the only state that forces cities to rely solely on sales tax for general revenue. Cities in other states are able to bring in property and income taxes to fund their operations.

  12. #112

    Default Re: Oklahoma Economy

    Quote Originally Posted by checkthat View Post
    Oklahoma is the only state that forces cities to rely solely on sales tax for general revenue. Cities in other states are able to bring in property and income taxes to fund their operations.
    I wonder why the mayors of OKC, Tulsa, Norman and Lawton aren't pushing for a vote on allowing Home Rule in cities that have a population in excess of a predetermined number and accompanying legislation that would allow for local taxation.

  13. #113

    Default Re: Oklahoma Economy

    Quote Originally Posted by Jersey Boss View Post
    I wonder why the mayors of OKC, Tulsa, Norman and Lawton aren't pushing for a vote on allowing Home Rule in cities that have a population in excess of a predetermined number and accompanying legislation that would allow for local taxation.
    Past mayors have done just that and have consistently been defeated by the rural bloc.

  14. #114

    Default Re: Oklahoma Economy

    Quote Originally Posted by checkthat View Post
    Oklahoma is the only state that forces cities to rely solely on sales tax for general revenue. Cities in other states are able to bring in property and income taxes to fund their operations.
    To boot, the state also takes nearly half of all sales taxes.

  15. #115

    Default Re: Oklahoma Economy

    These Are The Best And Worst States To Start A Small Business

    According to data from the Bureau of Labor Statistics, about 1/5th of all startups don’t survive to their first birthday. And nearly half will never make it to their fifth.

    But as Wallethub points out, there are different reasons why startups fail. Among them, a bad location is one of the most commonly cited. But beyond situating the business in a popular thoroughfare, choosing the right state to launch your business can also make a huge difference in its odds of success.

    States that offer the right conditions for success, such as access to cash, skilled workers, affordable office space and other factors, can be critical in helping a business thrive.


    In a recent study, WalletHub compared the 50 states across 26 metrics for startup success, assigning each state a number in each category, then computing which states are the most business-friendly overall.

    The results are hardly surprising: High-tax, Democrat-controlled states in the northeast offer some of the worst conditions for businesses, while low-tax states, Republican-controlled states in the Sun Belt have some of the best conditions.

    See the complete ranking below:

    Texas
    Utah
    Georgia
    North Dakota
    Oklahoma
    Florida
    Arizona
    California
    Montana
    Colorado
    Idaho
    Washington
    Mississippi
    North Carolina
    Louisiana
    Kansas
    Minnesota
    Michigan
    Nebraska
    Tennessee
    Kentucky
    South Dakota
    Maine
    Indiana
    Nevada
    Oregon
    New Mexico
    Alaska
    Alabama
    Wisconsin
    Arkansas
    Missouri
    Wyoming
    Ohio
    Illinois
    Massachusetts
    Iowa
    South Carolina
    Virginia
    Maryland
    West Virginia
    New York
    Vermont
    Delaware
    Pennsylvania
    Connecticut
    Hawaii
    New Hampshire
    New Jersey
    Rhode Island

    https://www.zerohedge.com/news/2019-...small-business

  16. #116

    Default Re: Oklahoma Economy

    https://www.cnbc.com/2019/07/09/top-...-oklahoma.html

    CNBC- VA #1, Tx. #2, Oklahoma #43

    Just goes to show that these subjective rankings can place a state anywhere.

  17. #117

    Default Re: Oklahoma Economy

    Quote Originally Posted by Jersey Boss View Post
    https://www.cnbc.com/2019/07/09/top-...-oklahoma.html

    CNBC- VA #1, Tx. #2, Oklahoma #43

    Just goes to show that these subjective rankings can place a state anywhere.
    This post has zero to do with what I posted. Zero. I posted top states to start a company. Good troll though

  18. Default Re: Oklahoma Economy

    Quote Originally Posted by OKC Guy View Post
    This post has zero to do with what I posted. Zero. I posted top states to start a company. Good troll though
    Do you really think an article written by someone with the handle Tyler Durden is really an objective source of information? He apparently didn't read or maybe he just didn't understand what Palahniuk was trying to convey. Zerohedge is arguably one of the least reputable sources you could link for objective facts. You might as well link an onion article.

  19. #119

    Default Re: Oklahoma Economy

    What warranted the name calling? Moderator please check this individual.

  20. #120

    Default Re: Oklahoma Economy

    Zero Hedge is actually a pretty good source of information, and even then it's just aggregating WalletHub's study.

    That being said the two studies are apples and oranges.

    WalletHub is more specifically studying best place for startups based on business friendliness. A measure Oklahoma will always score well at.
    CNBC is taking a more comprehensive approach for best place to operate a business as a whole. I've followed these studies for years and really enjoy them.

    Of the top 10, 6 are Red, 4 are blue. Bottom 10 is 6 Red 4 Blue.
    So anyone saying its because of R or D isn't seeing the whole picture of the study. It's much more complicated than just R or D.

    Stitt likely reads the CNBC survey, so as far as action is concerned maybe it will help.

  21. Default Re: Oklahoma Economy

    Quote Originally Posted by gopokes88 View Post
    Zero Hedge is actually a pretty good source of information, and even then it's just aggregating WalletHub's study.

    That being said the two studies are apples and oranges.

    WalletHub is more specifically studying best place for startups based on business friendliness. A measure Oklahoma will always score well at.
    CNBC is taking a more comprehensive approach for best place to operate a business as a whole. I've followed these studies for years and really enjoy them.

    Of the top 10, 6 are Red, 4 are blue. Bottom 10 is 6 Red 4 Blue.
    So anyone saying its because of R or D isn't seeing the whole picture of the study. It's much more complicated than just R or D.

    Stitt likely reads the CNBC survey, so as far as action is concerned maybe it will help.
    IFCN fact checkers disagree with you. Unless you are looking for extreme bias and conspiracy theories it is a great source of information.

  22. #122

    Default Re: Oklahoma Economy

    FWIW, I often see Oklahoma near the top of lists about starting businesses. This is normal, believe it or not. There are nearly zero roadblocks to get things started in this state, and that's largely what the lists are based off.

    Here is one from Fortune in case you don't believe me. OK is #4.
    https://fortune.com/2018/07/03/starting-a-new-business/

    WalletHub #5
    https://wallethub.com/edu/best-state...usiness/36934/

    Business Insider on the other hand has us at #25 (high tax, poor labor market & low quality of life hurt us)
    https://smallbiztrends.com/2018/07/b...ness-2018.html

  23. #123

    Default Re: Oklahoma Economy

    Further on the Buisness insider ranking, labor market usually isn't a huge setback as most startups are just a few people. Rare is it that a company turns into a huge labor sucking company. I would say the same about quality of life as well. Seems like a non-factor.

  24. #124

    Default Re: Oklahoma Economy

    Quote Originally Posted by citywokchinesefood View Post
    IFCN fact checkers disagree with you. Unless you are looking for extreme bias and conspiracy theories it is a great source of information.
    It's not a zerohedge article. They just grabbed it from wallethub. Wallet hubs main purpose is to generate clicks for financial products, but who's not trying to sale you stuff.

  25. Default Re: Oklahoma Economy

    Quote Originally Posted by jn1780 View Post
    It's not a zerohedge article. They just grabbed it from wallethub. Wallet hubs main purpose is to generate clicks for financial products, but who's not trying to sale you stuff.
    If that is the case the OP of the link should have posted the article from wallet hub. Zerohedge is not news source, it should be blacklisted, its like posting an infowars link and expecting to be taken seriously.

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