KGOU: Study: Education Sales Tax Would Cost Average Family $262

“A proposed penny sales tax increase would cost medium-income Oklahomans about $262 a year and raise $608 million annually to finance public schools and higher education, a new data analysis shows. The bottom 20 percent of Oklahoman households would chip in $90 a year, and the top 1 percent would pay $1,691, the study says.As a percentage of income, though, the tax would fall hardest on the poor. That’s because they spend a bigger portion of their income on retail purchases. The analysis was prepared in recent days by the Institute on Taxation and Economic Policy, a nonpartisan research organization based in Washington, D.C. It was requested by the Oklahoma Policy Institute, a Tulsa-based group that supports higher levels of funding for education and other core state services.”

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