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ROCKY MOUNTAIN HIGH TAXES – WALL STREET JOURNAL OPINION

October 26, 2013

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“Democrats and unions try to kill Colorado’s flat tax.”

 

Oct. 23, 2013 7:25 p.m. ET Wall Street Journal

Colorado has veered to the political left in recent years, and on November 5 it may take another leap toward California. The Democrats and unions who now run state government are promoting a ballot initiative that would raise taxes and unleash a brave new era of liberal governance.The Colorado Tax Increase for Education, or Amendment 66, follows the well-trod union script of claiming to raise taxes in the name of better schools. Its real purpose is to repeal restraints on tax increases and open the door to even higher taxes and more spending on everything.

The referendum would repeal the state’s current flat income-tax rate of 4.63% that liberals loathe because raising it requires raising taxes on nearly all Coloradans. And sure enough, Amendment 66 would raise the rate to 5% on income up to $75,000, and to 5.9% on all higher earners. That’s a 26.6% tax increase on anyone making more than $75,000 a year.

To read the rest of this article click here for the Wall Street Journal

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