Last month, I posed a series of questions worth examining, particularly in light of Oklahoma’s ongoing budget shortfall. In many areas related to our business competitiveness and quality of life, Oklahoma is not measuring up to its potential. The State Chamber has launched OK2030, a vision plan for Oklahoma, to study what’s not working and present innovative ideas for moving our state forward.

My previous column dealt primarily with questions related to Oklahoma’s governmental structures and procedures. Many Oklahomans responded, sharing their ideas on how things could be improved. But that was just the beginning of the discussion that policymakers, business leaders and the general public should be having.

Based upon the state’s budget difficulties over the last few years, and in light of a very recent Supreme Court decision, it is becoming increasingly obvious we should conduct a thorough review of our entire taxation system and how we finance local, county and state government. Our basic tax code, despite numerous amendments and revisions, was established almost 100 years ago. The world has dramatically changed since our code was enacted. Technological shifts in business and our personal lives have altered our society. Our economy has also radically changed from an agricultural, commodity and manufacturing based economy to a consumer-driven service economy.

It is time to ask serious questions about the tax system. Are we taxing the right things? Does our current tax system create more jobs and investment or hinder our growth potential? Will we be able to fund the core functions of state, county and municipal government adequately in the future? Is our current tax system fair and equitable to all of our citizens? What role should government have through its tax policies? Are there tax systems in other states that better serve the interests of their citizens? Can we reduce the cost of administering our own tax system?

These are but a few of the many questions we need to ask ourselves if we want a vibrant 21st-century Oklahoma.

No one enjoys paying taxes but they are an absolute certainty. In light of that, we must work together to develop the best tax system possible. At the State Chamber of Oklahoma, through OK2030, we would love to hear your ideas. Feel free to share them at OK2030.org.

Column by Fred Morgan, President and CEO of the State Chamber of Oklahoma, printed in The Journal Record on August 11, 2017