Tuesday, March 17, 2009

Who is Bearing the Burden of Taxes in Oklahoma?

The Oklahoma Policy Institute recently updated their report about "Oklahoma's Fiscal Outlook."

They provide a valuable chart on page 52 that reveals the percentage of total income that families of differing income levels are paying for state and local taxes in Oklahoma. It show that families in the lowest income bracket (representing 20% of the state's population) pay 12% of their income in state and local taxes while families in the highest income bracket (representing 1% of the state's population) only pay 8% of their income in state and local taxes.

Sooner or later, the poorest among us are going to realize that almost all of the tax cuts that have been enacted have gone to the wealthiest among us.

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