TABOR Returns in Colorado (Taxpayers Deserve a Refund)

Center for Fiscal Accountability ^ | 7/22/10 | [Staff]

[Andrea19]

...The return of TABOR in Colorado helps put the spotlight on the importance of fiscal limits across the country. The constitutional amendment, first passed in 1992, resulted in massive government savings that were required by law to be returned to taxpayers. Between 1997 and 2001, taxpayers received $3.2 billion in tax refunds. Unsurprisingly, between 1995 and 2000, the state ranked first in growth state product growth and second in personal income growth. Referenda on increasing taxes were swiftly voted down by Coloradans who realized the positive potential of the spending limit.

Sensing the public’s aversion to higher taxes and spending, elected officials hatched ways to weaken the TABOR constraints on spending. In 2000, TABOR opponents passed Amendment 23 which mandated an increase in education spending even when state revenues are down. From 2001 to 2003, education spending increased in Colorado by $450 million.

This was followed by the passage of Referendum C in 2005, suspending Tabor’s revenue limit for five years. With Referendum C expiring, TABOR is back in effect, but with limited scope...

[Andrea19]

Someone I know recently explained how TABOR works to me; I'm intrigued by the idea, that way if Virginia has budget surpluses again, rather than being wasted on Metrorail design confusion, we taxpayers could get something back. And may the treason of Bill Owens be undone...

Help promote Conservative activism here & here & here & here

[afraidfortherepublic]

We had a WI legislator propose TABOR here, and the Republican Senate Majority leader refused to schedule it for a vote after the Assembly had passed it. She lost her seat in the next election, but a few Republicans continued to undermine it and it died.

The Assemblyman who proposed TABOR lost his seat a few years ago, but now he’s running for State Senate now, so perhaps it will be reborn.

[mountainlion]

Salazar cut the throats of tax payers by driving the oil industry out of Colorado. He cut income form the oil industry. Colorado has enough oil to pay each tax payer $1000 a year form oil revenues like Alaska does but they want to destroy the state in stead.

[AlmaKing]

Funny that a fiscal responsibility bill from Colorado is named TABOR.

Horace TABOR was one of the richest men in Colorado, becoming wealthy through silver mining in Leadville.
Problem for him was that he mortgaged everything to the hilt to pull the cash out so he could spend it on opera houses, etc.

When silver crashed, he crashed.

Sound familiar?

[La Lydia]

"... rather than being wasted on Metrorail design confusion, we taxpayers could get something back ..."

Dream on. Metrorail-Dulles-Tysons Corner redesign is going to be a black hole sucking in Virginians' tax dollars for the next 20 years. Did you see the "plan" they just approved? Its ideologically driven shortcomings are going to make traffic even worse. Think "anthill" with a Tiffany's and a Ruth's Chris. The only thing I can't figure out is how Gerry Connolly is going to take his slice off the top. The rest of Fairfax County and Alexandria, for that matter, get the shaft.

[drbuzzard]

As the article mentions, the undoing of TABOR was the absolutely moronic referendum which mandated continual increases in K-12 spending. That amendment was absolutely insane and by its very nature is guarantee to bankrupt the state.

[ebersole]

You are absolutely correct. They were able to get the bs referendum passed by crying it’s all about the childeren. And what do we have now as a result of releasing this funds supposedly for the children? Significantly decreased funding to the public schools by the state. Just another way for the government to rape and pillage the people and the coffers.

It’s just fascinating to listen and watch the liberals get their panties in a wad over TABOR and oh how CO is a backass state with backass people because we won’t just willy nilly pass any tax because the government can’t manage a budget. In Colorado Springs they also tried to raise sales tax and property tax (overwhelmingly defeated) with the usual pitch of having to cut police and fire and blah blah blah...voters said...Go ahead and cut away. Even a republican mayor and majority republican city council didn’t want to do the right thing and looked for an easy way out. It was the voters that held their feet to the fire and said we aren’t giving you any more money to waste.

Of course, the state government just raised “fees” on everything and tries to say it isn’t similar to raising taxes:)!

Having lived in several high tax states (MI, OH) in this country, I love the property tax in CO. On our property assessed around 300K, annual property tax is $1200