Of the 50 states, Oklahoma has the 22nd highest sales tax burden. There are those, including the governor, who wish to raise that rate significantly.
But Oklahoma has the very lowest property tax in the 50 states, yet no one seeks to tap that form of taxation at all!
Do you suppose that could have anything to do with whom that tax burden falls upon? Property taxes hit those who have property. But sales taxes hit those who consume the most.
Young people pay a far higher portion of of their income on consumption.
Oklahoma's income taxes are 37th out of 50. This means that we tax folks in their productivity. It's not terrible, but it's not even close to the yoke some states put on folks.
Where Oklahoma is very low, is in property taxes. In fact, Oklahoma has the lowest property taxes in the nation. #50 and that's not set to change any time soon. Why?
Property owners are largely the established and elderly. They vote like crazy! In fact, those in the 55-70 age range are the most faithful voting block in the state.
Picking your poison...
The most sensible idea, for those wishing to hike taxes and grow the burden of bigger government; is to tap into property taxes.
But the governor & legislature don't seem to even hint of it... why?
Is there a cowardice spirit in the halls of government? Say it isn't so!
For politicians to go after our young adults is a very cowardly tact. Our sales tax is high enough and it's beyond the point of diminishing returns. Folks buy from other states and raising consumption taxes will just drive that economic segment even lower.
Our jobs and our property aren't likely to go to California, but our internet buying habits already went there
If we want young people to stay in Oklahoma, perhaps we'd do well to tell our tax policy about it!
Wallet Hub published the almanac data used in this report.