Big money interest groups are trying to stop a bill that would repeal the capital gains tax deduction–SB 1086. Oklahoma’s capital gains deduction allows income from the sale of Oklahoma real estate or stock in an Oklahoma-based firm to go fully untaxed. Here are seven reasons why we can’t let them block a repeal of this wasteful tax loophole.
Capital gains should be taxed at the same rate as income earned by hard-working Oklahomans. It’s time for this inefficient and unfair use of tax dollars to go. You can find your legislators information here. Please call your state representative today and ask them to vote YES to SB 1086.
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