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OCPA: Taxing capital gains will burden economy further (OPINION)

OCPA: Taxing capital gains will burden economy further (OPINION)

NONDOC.com
By Dave Bond -  April 10, 2018 

A capital gains tax is, above all, a tax on small businesses, on entrepreneurs, on capital generation, on private investment, on job creation and on adding value to local and state economies. SB 1086, currently under consideration at the Oklahoma Capitol, would impose a capital gains tax by repealing our state’s capital gains deduction.

Texas, the economy Oklahoma competes with the most every day, has no capital gains tax because Texas has no income tax. Imposing a capital gains tax in Oklahoma would leave our state at an even greater disadvantage versus Texas in terms of keeping entrepreneurs and job creators from leaving Oklahoma and taking job opportunities with them.

Taxpayers move, take their money to Texas... FULL ARTICLE

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