This November, Coloradans will vote on Proposition CC. It begins “Without raising taxes...”
Proponents argue that Prop CC does not increase the 4.63% income tax rate, therefore it does not “raise taxes.”
Prop CC goes on to ask “may the state keep and spend all the revenue it annually collects after June 30, 2019, but is not currently allowed to keep and spend under Colorado law...”
That sounds like the state wants to keep more of your money.
You work hard all year and your employer deducts $2,000 from your paycheck for state taxes. You complete your return and your employer withheld $200 too much. The state sends it back. You only had to pay $1,800 in taxes.
This time, your return shows the correct amount of taxes were withheld. Once the state gets everyone’s returns, it determines that as a result of your Taxpayer’s Bill of Rights, it collected too much tax from everyone. It owes you a refund of $150. You only paid $1,850 in taxes.
If Prop CC is passed, the state will “keep and spend all the revenue it annually collects.” That is the $2,000 that your employer withheld and sent to the state. No $150 tax refund.
Prop CC increased the amount of money that you paid to the state, that it will keep and spend. That is raising taxes.
Vote NO on CC and keep your money.