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