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Tag: Colorado Taxes

Prop 137 funds the right forest work and the wrong grant programs
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Colorado Accountability Project, Approved, Commentary, State

Prop 137 funds the right forest work and the wrong grant programs

By Cory Gaines | Commentary, Colorado Accountability Project A look at Prop 137, and why I'm opposed.  Prop 137, at least to me, has flown under the radar. I've not heard of it (perhaps I'm not looking in the right spots, but I don't think I've seen much in the mainstream media), and haven't thought to go and look through all the ballot initiatives either. A reader recently sent me a message and it had the opposition website which I link to first below. You are welcome to go and paw through it. It's clear that both the reader and whoever is running that site are firmly against Prop 137. I don't think that I entirely agree in that opposition, more on that soon.The second link below is to the Legislative page for the ballot measure. If you scroll down all the way to...
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New Uses for Pueblo Half Cent Tax Prompt Debate Over Voter Intent
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Uncategorized, Approved, Commentary, Complete Colorado, Local

New Uses for Pueblo Half Cent Tax Prompt Debate Over Voter Intent

By Nicki Hart | Commentary, Complete Colorado Pueblo offers a cautionary tale for communities across Colorado being asked to extend, renew, or continue a dedicated tax. When voters approve a tax for one purpose, how much can the government redefine that purpose before it must return to the people for permission? That debate is unfolding in Pueblo over the city’s Half-Cent Sales Tax Fund, a voter-approved revenue source that has existed for more than four decades. The fund originated in 1984 following the collapse of Pueblo’s steel economy. In 1992, voters fundamentally reshaped the program around a more specific economic promise that public funds would support capital improvements that create “primary jobs.” Primary jobs are those that bring new money into the local ec...
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What Amendment 87 Could Mean for Broncos Players and Colorado Employers
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Colorado Politics, Approved, Commentary, State

What Amendment 87 Could Mean for Broncos Players and Colorado Employers

By Jon Caldara | Commentary, Colorado Politics Do you want the Broncos to win the Super Bowl? Then you’d better hope Amendment 87 — which brings back Colorado’s economy-strangling “graduated” income tax — loses at the ballot box this fall. Seriously. Forget Republicans and Democrats. Forget tax policy. This is about Xs and Os — and whether Denver can afford the players who execute them and win a Super Bowl. Every successful business has star employees: rare talents without whom the enterprise simply doesn’t work. Same goes for an NFL franchise. Every business has star employees the whole operation is built around. Sometimes that star is the chief executive. No Henry Ford, no assembly line, no affordable car. No Steve Jobs, no iPhone — foldable or otherwis...
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Inflationary Bracket Creep With Initiative 195 Could Push More Coloradans Into Higher Tax Brackets
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Complete Colorado, Approved, Commentary, State

Inflationary Bracket Creep With Initiative 195 Could Push More Coloradans Into Higher Tax Brackets

By Nash Herman | Commentary, Complete Colorado Initiative 195, the proposed ‘progressive’ income tax ballot measure, promises long-term pain for Colorado taxpayers due to what economists call “bracket creep.”  But we do not need to speculate about the impact of bracket creep, as we can already see its effect in action since voters passed Proposition FF in 2022.  Proposition FF Through Proposition FF, voters decided to increase taxes on high-income Colorado earners to support a universal school lunch program.  The measure capped state deductions for tax filers with a federal adjusted gross income exceeding $300,000 and directed new revenue to the Healthy School Meals for All (HSMA) program.   READ THE FUL...
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Colorado Graduated Tax Initiative Draws Major Support From Democratic Lawmaker’s Nonprofit
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Complete Colorado, Approved, State

Colorado Graduated Tax Initiative Draws Major Support From Democratic Lawmaker’s Nonprofit

By Sherrie Peif | Complete Colorado DENVER – State Rep. Lorena Garcia, a Westminster Democrat, has been working overtime to ensure a progressive state income tax initiative makes it in front of Colorado voters this November, including donating big bucks via a tax-funded nonprofit to the issue committee charged with getting the measure on the ballot. If passed, Initiative 195 would raise the current flat tax rate of 4.4 percent to 7.4 percent for those earning more than $500,000, and increasing as incomes rise to a top rate of 8.4 percent for those earning more than $1 million. A majority of Colorado taxpayers might see a slight income tax reduction, with many eventually getting caught up in the graduated brackets, as they are not indexed for inflation. ...
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Colorado Progressive Tax Plan Raises Long-Term Bracket Creep Concerns
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Complete Colorado, Approved, State

Colorado Progressive Tax Plan Raises Long-Term Bracket Creep Concerns

By Nash Herman | Complete Colorado Proponents of a progressive state income tax claim that it will give most Coloradans a break on their taxes.   Those familiar with history, inflation, and bracket creep see a much different long-term picture.   Repeating history The US adopted a federal income tax in 1913, justified by the claim that only about one percent of the population would pay the tax in its earliest years.  Does this sound familiar?   Proponents of Initiative 195, the ballot measure to switch Colorado’s 4.4 percent flat income tax rate to a progressive tax, are adamant that the measure is fair because 97 percent of filers will receive a tax cut.  READ THE FULL ARTICLE AT COMPLETE COLORAD...
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Colorado Graduated Income Tax Proposal Heads to Signature Review
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Colorado Politics, Approved, State

Colorado Graduated Income Tax Proposal Heads to Signature Review

By Marianne Goodland | Colorado Politics The measure, which eliminates Colorado’s flat tax, is expected to raise $2 billion in new revenue The proposal to amend the Colorado constitution to change the state’s flat rate into a graduated income tax came in under the wire Monday, the deadline for groups to turn in petition signatures for November’s ballot, setting up a high-stakes battle over revenue. Backers of the graduated tax proposal — which would marginally decrease the tax liability for the lower ends of the new bracket, while raising taxes for others — turned in 157,000 signatures with about an hour to go before the 5 p.m. deadline. The proposal, if approved at the ballot box, is expected to generate $2 billion more in tax revenue for the state. Doze...
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The American Dream still depends on rewarding hard work
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Rocky Mountain Voice, Commentary, State, Top Stories

The American Dream still depends on rewarding hard work

By Gabe Evans | Guest Commentary, Rocky Mountain Voice When our founding fathers signed the Declaration of Independence, they envisioned a nation that could stand the test of time. A United States of America that not only encouraged freedom and independent thought, but that structurally safeguarded it. They believed in a nation defined by liberty, opportunity, personal responsibility, and an enduring love of country.  Today, 250 years later, we are living the future they imagined.  Our nation is known globally as the land of opportunity, where the American Dream thrives and is achievable for anyone who has the resolve to pursue it. That sense of promise is deeply personal to my family and I, as it is what led my Abuelo Cuauhtemoc Chavez — who was born in Mexico — to ...
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Initiative 195 would raise taxes on Colorado’s top earners. A new report asks whether they’d stay.
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Rocky Mountain Voice, State, Top Stories

Initiative 195 would raise taxes on Colorado’s top earners. A new report asks whether they’d stay.

By Jen Schumann | Rocky Mountain Voice The income tax on a Colorado household earning under $25,000 would fall by $9 a year under Initiative 195. A filer reporting between $2 million and $5 million would pay about $13,914 more. Both figures come from the measure's certified ballot title. The Common Sense Institute, a free-market policy group in Greenwood Village, says that second household is also the one most likely to pack up and leave Colorado, and that the state would lose part of the revenue the tax is supposed to bring in right along with it. Initiative 195 would end Colorado's flat income tax. The state taxed income on a graduated scale for its first 50 years, then switched in 1987 to a single rate, now 4.4 percent, that applies to every earner.  In its place, 1...
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Colorado’s budget keeps growing. Florida just cut spending again
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Complete Colorado, Approved, Commentary, State

Colorado’s budget keeps growing. Florida just cut spending again

By Nash Herman | Commentary, Complete Colorado While Colorado’s majority Democrats lament the state’s persistent budget challenges, Florida’s Republican majority just celebrated reducing spending for a second consecutive year in another business-as-usual state budget.  Colorado legislators have plenty of lessons they could learn from Florida, instead, they are more likely to double down on more tax and spend, economy-wrecking policies.  How the states compare  Governor Jared Polis recently signed a $46.8 billion state budget, an almost 7 percent increase over last year’s $43.9 billion in spending, this despite legislators’ constant catastrophizing about Colorado’s “budget shortfall.”  That amounts to approximately $7,800 for every Color...
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