How far into the year do we have to work in order to meet our tax obligations? Until April 6th.
From OK Labor Commissioner Mark Costello:
Celebrating Our “Freedom” Earlier Next Year
By Oklahoma Labor Commissioner Mark Costello
Do you remember what you were doing on April 6th of this year?
I think many of us would be hard-pressed to remember. It was a Saturday. In fact, Oklahoma City actually set a record high for the day at 74 degrees. Spring was in the air, and whether you knew it or not, it was a great day to breathe a sigh of relief.
You see, in Oklahoma, April 6th was Tax Freedom Day. That’s the day that we “celebrate” our independence from the taxman, both in Washington D.C. and Oklahoma City.
According to the National Tax Foundation, from January 1 to April 6, 2013, every dime you earned went to paying your share of federal, state and local taxes. I think that makes April 6th a day to celebrate indeed!
Oklahoma has always ranked near the bottom of the list for lowest overall tax burden, and this year we were 40th — for once it’s a good thing to be near the bottom of this list!
As we all know, the leadership in our own state capitol has made tax reform a priority and they should be applaud for it, but their work is not over. The tremendous tax burden that the federal government is pushing down to taxpayers is unprecedented. The growth in the IRS manpower to police the impending ObamaCare state is tremendous and we need any relief we can get.
But with great opportunities such as ours, come the great responsibilities that all elected officials owe to their citizenry: the money we spend comes from you, the taxpayer. The more money we spend, the more the taxpayer must provide. It’s a responsibility that I take very seriously. If state agencies, authorities, boards and commissions can conservatively manage your tax dollars, the less we need and the more likely we are to see your tax burden shrink and the more money stays in your pocket. It’s an economic theory that seems so simple that it just might work.
The lower the tax burden, the more competitive Oklahoma can be in attracting businesses and families to our state. A low tax burden leaves you the ability to make your own decisions, control your own destiny, and frankly, gives you the freedom to spend your money how you see fit. As we look forward to Independence Day I have a challenge for all of us elected office-holders. We should be pushing tax policies that put more money into citizen’s pockets, therefore, increasing freedom. It is my goal to celebrate Tax Freedom day earlier and earlier every year. Let’s make that a goal for all of us.
I’ve put a link to the National Tax Foundation on my Facebook page with links to the pertinent data for your review. You can find me at facebook.com/MarkCostelloforOklahoma.