Amendment 69 — Tax Foundation Says Amendment 69 Would Hurt Colorado's Economy

It doesn’t matter who does the math, Thomas: Amendment 69 would be a disaster for Colorado taxpayers. This week the Tax Foundation, an independent research organization, released a report on the impacts of passing ColoradoCare into law — and it’s as bad as we thought.nnHere are some of the Tax Foundation’s findings:n

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• “Amendment 69 would hurt Colorado’s tax climate as the state would surpass California with the highest individual income tax rate in the country.”

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• “Amendment 69 would create a new bureaucracy, with immense authority to change taxes, outside of the state’s current balance of powers, eliminating transparency for taxpayers.”

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• “The economic incidence of payroll taxes is borne by employees, not employers. Splitting responsibility for the payment of the tax between employer and employee does not change the economic incidence.”

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• “Colorado would plummet from 16th to 34th nationally on the State Business Tax Climate Index, confronting voters with an important choice in the Centennial State.”

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nExperts from all across the political spectrum — as well as independent research entities like the Tax Foundation — all agree: Amendment 69 is wrong for Colorado.