Income tax cut’s negative impact
Regarding the letters by Gerald Sawyer and Brian McAlpine (Your Views, Oct. 10): Revenues raised by the lottery and by tribal gaming in 2016 — $57 million and $132 million respectively — were more than offset by the top income tax rate cut supported vigorously by the governor and the
Legislature. That cut in
2016 approximated $356 million. You can’t raise
$189 million in new revenue and cut $356 million and expect to solve the school funding issue.
Please note that while
Oklahoma has grown, its appropriations have declined over the past 18 years. Without damaging state income tax cuts and supposedly temporary reductions in the GPT for horizontal drilling, additional lottery and gaming revenues would have been a great boost to education.
Meanwhile, there may be several reasons why a former Lyondell-Basell CEO was selected as University of Oklahoma president. LYB is one of the world’s largest plastics, chemicals and refining companies. A $30 million gift from now-OU President Jim Gallogly and others allowed development of a school of biomedical engineering, a new building, and the funding of 12 endowed positions and graduate fellowships. Don’t be surprised if the “bottom line” includes substantial cuts to the building and grounds maintenance, transportation, staffing and other support functions.
It does not seem that denigrating a past administration, on the brink of midterm elections, is necessary to advance Gallogly’s plan — regardless of yet-to-be-determined outcomes.
Jan New, Oklahoma City