NewsOK
The Oklahoman Editorial, Published: December 22, 2010
STATE Treasurer Scott Meacham, with only a few days left in his time in office, has reversed his position and now says a state personal income tax cut is likely due to revenue growth.
Only a few days ago, Meacham said he would be surprised if the state saw a 4 percent growth in revenue, which is what it would take to trigger a reduction in the top income tax rate from 5.5 percent to 5.25 percent.
What a difference a few days can make! It's never bad news when state revenues reverse their declines of recent years or to hear that an income tax cut is coming. So why isn't there more rejoicing?
Because modest revenue growth alone won't cover the budget shortfalls expected for fiscal 2012, which starts next July 1, six months after Meacham has been replaced by Ken Miller and Gov. Brad Henry has been succeeded by Mary Fallin... FULL ARTICLE
Posted on
Wed, December 22, 2010
by Crystal Drwenski