Happy Monday! Kim invites her listeners to the Inaugural Web Salon Series Candid COVID Conversations. Experts in the field of medicine, resilience, neighborhood safety and education will join Kim this Thursday at 6pm. You can register here: kimmonson.com. Kim takes a look at HB21-1311 Income Tax, another run around TABOR (Taxpayer’s Bill of Rights) with increased taxes.
Researcher Patti Kurgan joins Kim for a few remarks on SB21-260 Sustainability of the Transportation System. Patti states that there are two key questions that need to be answered by the sponsors of this bill: (1) Why is there no sunset clause on all the fees? (2) And , Why can’t SB97-1 be reinstated and let SB21-260 die? It is estimated that approximately $200 million/year for General Fund dollars for transportation projects would be generated. This would result in no new taxes veiled as fees for Colorado residents.
Jason McBride, Vice President with Presidential Wealth Management, states unequivocally that any more taxes is a flat no. Jason states that your personal financial portfolio should ascertain your known factors. Annuity check-ups and financial asset evaluations are a necessity. Give Jason a call at 303-694-1600 to set up a session, and he promises to not charge you a “fee.”
Guest Ben Murrey, Fiscal Policy Center Director at the Independence Institute, comments on SB21-260 Sustainability of the Transportation System. Ben notes that the fees embedded in this bill should be presented to voters at the ballot box. $3.8 billion of the $5.3 billion cited in the bill comes from fees. Ben explains when Enterprises came into existence, and what a fee was and what it is becoming. Voters in 2020 clearly stated, with the passage of Proposition 117, that voters want a voice on any new fees. SB21-260 is reverse Robin Hood as lower income people will be paying for electrical vehicle subsidies for the highest earners. Ben hints at a ballot initiative in November, 2022, on reducing the gas tax if this bill is signed into law. HB21-1311 Income Tax has familiar tones of HB20-1420. Tax deductions for businesses are reduced in favor of increased earned income tax credits that benefits illegal immigrants without a social security number. A fair tax is a flat tax without advantages carved out for select groups of people.
Responses