Keeping the fruits of one’s labor is paramount to a thriving economy because people must have money to spend on goods and services for the economy to grow. If taxes are too high, economic activity slows resulting in a drop in state income.
When people have more money in their pockets, they tend to buy more goods and services, which in turn supports new business development, salaries increase, more people get hired and the cycle continues. This is the essence of the free market system that our country was founded upon.
Therefore, I will:
- Support efforts to lower and/or eliminate our state income tax
- Continue to discuss the idea of comprehensive tax reform that considers all forms of taxation including property, income, sales, etc.
There is also a spiritual component to the issue of taxation. The Bible mentions the poor over 2000 times and in Psalms and Proverbs oppressing the poor, needy, widow and fatherless are mentioned over 30 times. Most of these give a strong warning on anyone who would do such a thing. When we consider raising taxes, it is imperative that we consider the impact to the widow/widower on a single income, the veteran on a single income, the single mother with one or more kids on a single income, the one paying on expensive medical bills, and many others that cannot afford anything else taken out of the money they make each month. One out of every 6 people in Oklahoma lives in poverty and out of that number, 67% are under the age of 18. These are the ones that we need to consider when raising taxes.