Oklahoma is over taxed.

Here’s proof. According to the state treasurer, state revenues grew by a very healthy 10 percent in July. The new taxes on cigarettes, gasoline and energy production started on July 1 but they will not impact the state reports until the August accounting.

Some state agency heads, greedy for more money, argued in the liberal media that even though revenues were up 10 percent, they had projected a 12 percent growth and therefore the numbers were “disappointing.”

That growth has been sustained for more than a year now and it has triggered a state statute that will require depositing as much as $370,000,000.00 in the Rainy Day fund. When budget requirements are met, a percentage of the overage must go into that fund.

In other words, the Legislature didn’t need to enact the biggest tax increase in state history. It was actually a measure designed to grow state government in its cost and overreach.

Oklahoma has low unemployment. America is seeing more than 4 percent economic grow – a figure unheard of under the Obama Regime but what could be normal under President Trump’s economic policies.

For the state, income tax collections are up almost 10 percent. Sales taxes are up 8.8 percent. Gross production taxes on oil and natural gas have risen 64 percent.

Here is the worst part of this situation. When the new Legislature convenes in February, the state health agency, corrections and public education will be screaming for those excess funds. And more tax increases.

And based on the way the elections have gone, they will get more taxes and bigger, more intrusive government.

Hang on to your wallets.