Budget & Tax
Jonathan Small | May 12, 2017
Capping vital deductions is bad policy
Some lawmakers searching for more revenue are trying to increase personal income taxes on Oklahoma families and small business owners – all while common sense ways to control spending are stymied by bureaucrats, special interests, and tax consumers.
The latest tax raising idea proposed at the State Capitol is to cap personal itemized deductions on state personal income tax returns. They claim that the proposed cap, at $17,000, would only impact the rich. The Oklahoma Tax Commission disagrees.
Read the rest over on The Journal Record.
Jonathan Small, C.P.A., serves as President and joined the staff in December of 2010. Previously, Jonathan served as a budget analyst for the Oklahoma Office of State Finance, as a fiscal policy analyst and research analyst for the Oklahoma House of Representatives, and as director of government affairs for the Oklahoma Insurance Department. Small’s work includes co-authoring “Economics 101” with Dr. Arthur Laffer and Dr. Wayne Winegarden, and his policy expertise has been referenced by The Oklahoman, the Tulsa World, National Review, the L.A. Times, The Hill, the Wall Street Journal and the Huffington Post. His weekly column “Free Market Friday” is published by the Journal Record and syndicated in 27 markets. A recipient of the American Legislative Exchange Council’s prestigious Private Sector Member of the Year award, Small is nationally recognized for his work to promote free markets, limited government and innovative public policy reforms. Jonathan holds a B.A. in Accounting from the University of Central Oklahoma and is a Certified Public Accountant.