How the Oklahoma GOP created a $1.6 billion dollar deficit
- Thread starter eastcane
- Start date
Reading comprehension?
"The cautious approach to tax cuts was abandoned in the mid-2000s, once Democrat Brad Henry became Governor and Republicans gained control of the House of Representatives. Under a series of bills passed under bipartisan agreements between 2004 and 2007, the top rate was cut to 5.5 percent by 2009. These mid-2000s tax cuts also included a “trigger” that automatically reduced the top rate to 5.25 percent"
"The cautious approach to tax cuts was abandoned in the mid-2000s, once Democrat Brad Henry became Governor and Republicans gained control of the House of Representatives. Under a series of bills passed under bipartisan agreements between 2004 and 2007, the top rate was cut to 5.5 percent by 2009. These mid-2000s tax cuts also included a “trigger” that automatically reduced the top rate to 5.25 percent"
Well Henry actually was a Republican if you cut to the bone, he worked with an overwhelming Republican House and Senate, and was a well trained lap dog for any trickle down scheme. Fallin had to put the breaks on additional top tier rate cuts after the bottom fell out of the economy here, but these people jus tdon't have that kind of backbone, it is much easier to borrow the money through bonds, than confront the fundamental problem facing her, a much smaller tax base to fund state government through, and the need to reverse the revenue bleeding.
Fallin pushed her top tier income tax cuts through as well, cut oil production taxes from 7 to 2%, increased tax credits for new business to historic levels, so the fact that we're looking at a $1.6 billion dollar deficit, 4 day school weeks, nursing homes closing through Medicaid cuts, single mothers and their children getting ready to lose medical insurance through Medicaid (111,000), and you realize trickle down has largely destroyed education, transportation, health care coverage, elderly living care, you name, this state now is officially is in critical condition.
Fallin pushed her top tier income tax cuts through as well, cut oil production taxes from 7 to 2%, increased tax credits for new business to historic levels, so the fact that we're looking at a $1.6 billion dollar deficit, 4 day school weeks, nursing homes closing through Medicaid cuts, single mothers and their children getting ready to lose medical insurance through Medicaid (111,000), and you realize trickle down has largely destroyed education, transportation, health care coverage, elderly living care, you name, this state now is officially is in critical condition.
I've been on this board now for almost ten years and I'm still amazed by some of the partisan rationale. The Dems controlled the Senate for six of Republican Henry's eight years in office. I know...pesky facts.
Facts aren't important when they bask in hatred of their fellow american's that just don't quite agree with their radical views. Like claiming others are racist when they themselves loyally vote time and time again in the traditionally racist party of Wallace and Byrd.
The answer would be not enough revenue, maybe Fallin could be Trump's VP and the nation can go to four day school weeks. Sweet.
Don't forget sub $2 natural gas and windmill tax credits going to out of state interests...
I read that the windfall was paired with an equal reduction in the state budget. A net change of zero, if you will.
Not sure if that's accurate though.
Even if that, it negates the idea that it was for education, which was part of the way it was advertised. I'm pretty neutral on the lottery. It tried it and found that the probabilities of winning $3 was very low. Casinos, on the other hand, I guess can be fun if you like coming home smelling like an ash tray. However, I know of several instances where casino gambling has led to a severe addiction.
Sorry, Rabid, I got off of the PBS topic.
Similar threads
