The Journal Record: Hamilton: Giving the rich their Gucci
media mention
“Look at the numbers: A 1-cent sales tax would cost 0.7 percent (or $90) for households earning $12,700 annually, 0.5 percent (or $262) for those earning $49,800 and only 0.1 percent (or $1,691) for those earning $1.6 million, according to the Institute on Taxation and Economic Policy. As the Oklahoma Policy Institute put it in a statement: “It will most hurt the pocketbooks of those families who are already struggling and who have received little or no benefit from the past decade’s repeated cuts to the top income tax bracket.
“A sales tax increase also risks encouraging more people to shop online, further eroding the sales tax base on which the state, cities, and counties depend,” the OPI said.”
“Look at the numbers: A 1-cent sales tax would cost 0.7 percent (or $90) for households earning $12,700 annually, 0.5 percent (or $262) for those earning $49,800 and only 0.1 percent (or $1,691) for those earning $1.6 million, according to the Institute on Taxation and Economic Policy. As the Oklahoma Policy Institute put it in a statement: “It will most hurt the pocketbooks of those families who are already struggling and who have received little or no benefit from the past decade’s repeated cuts to the top income tax bracket. “A sales tax increase also risks encouraging more people to shop online, further eroding the sales tax base on which the state, cities, and counties depend,” the OPI said.”