Oklahoma oil and teacher pay

An Oklahoma oil and gas industry group is challenging a tax on new wells that would give teachers in the state a $4,000 pay raise. This move would up the tax levied on each oil well from the current 2% to 7%. Not sure moving to tax your cash cow will prove a shrewd business move for the state in the longer run. About 20% of all jobs in Oklahoma are tied to the oil and nat gas sectors--do you really think it's wise to stifle investments?

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It's wise if you want to run your state into the ground. The oil industry took some hard knocks in the last couple of years, and Oklahoma was no exception. We should be investing in oil and gas, not deterring it.

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Is there actually a direct correlation to teacher salaries and a tax on oil wells? Would like to see the fine print on that one. 

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15 hours ago, Seleskya said:

Is there actually a direct correlation to teacher salaries and a tax on oil wells? Would like to see the fine print on that one. 

It is my understanding that Oklahoma has tried to raise teacher salaries for quite some time, and has been hotly debated. The only tax to my knowledge being discussed as a way to fund that (they have a budget deficit) is in the oil industry.

I think Oklahoma is pretty up front about its intentions in this matter. To be fair, teacher salaries in Oklahoma are pretty low.

https://articles.niche.com/teacher-salaries-in-america/

I'm not suggesting that the persons educating our children not be fairly compensated. Only that I think it is unwise to penalize the very thing that keeps your state going--oil. Particularly at a time when oil prices are up and drillers are looking to invest. They will just bypass Oklahoma and drill in New Mexico. 

 

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I think the prosperity of every state depends not only on resources but on education since America is fairing pretty poorly to this end. That said, no one expects oil and gas companies to agree to something like this so it's really not feasible. They should want to, but they won't so it is what it is. You're right, they'll just drill elsewhere. Business is business. 

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