Posted on 11/07/2013 1:56:29 PM PST by ThethoughtsofGreg
On Tuesday a ballot measure to raise income taxes on Coloradans to raise funds for increased education spending failed. In fact, the measure, Amendment 66, didn’t just fail–it went down in flames. The measure was defeated by a 32 percent margin. This major defeat was in spite of the fact that the measure’s backers outspent the opponents by a large margin, raising $10 million to support the initiative, including a $1 million each from New York Mayor Michael Bloomberg and Bill and Melinda Gates.
Amendment 66 would have eliminated Colorado’s flat rate income tax of 4.63 percent in favor of a new tiered income tax system that would tax income below $75,000 at 5 percent and income above that amount at 5.9 percent. This would have amounted to nearly $1 billion in new taxes on all Coloradans. Most notably, this measure would have even increased taxes on low earners in addition to high earners.
(Excerpt) Read more at americanlegislator.org ...
Ain't that a shame.
All that dough and no go.
Perhaps they should donate to Wendy Davis too!
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Gentlemen, start your engines for rendering plants, canneries, uranium mining, metals recycling and other useful production operations! [Wishful thinking, until the NIMBYs are all foreclosed and gone with government default.]
We’ve got a recalcitrant county in Oregon that refuses to jack up property taxes 300%. The State legislature has apparently passed a law which would allow the Governor, with the county commissioners’ permission, to move in and “fix” the problem. We have at least 18 timber-dependant counties that may find themselves in such a predicament.
Amendment 66 would have eliminated Colorado’s flat rate income tax of 4.63 percent in favor of a new tiered income tax system that would tax income below $75,000 at 5 percent and income above that amount at 5.9 percent. This would have amounted to nearly $1 billion in new taxes on all Coloradans. Most notably, this measure would have even increased taxes on low earners in addition to high earners.Bill Gates ping.
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