Gov't Affairs

WSJ Weighs in on 66

In a recent editorial, titled “Rocky Mountain High Taxes: Democrats and Unions Try to Kill Colorado’s Flat Tax,” the Wall Street Journal issued a scathing indictment of Amendment 66. Calling the amendment “ the Colorado Tax Increase for Education,” the editors said, “Its real purpose is to repeal restraints on tax increases and open the door to even higher taxes and more spending on everything.”

The editorial notes that “A 2011 study by Ernst & Young found that more than half a million small businesses in Colorado, or 92% of all in-state businesses, pay taxes at individual tax rates and thus would face a tax increase under Amendment 66.” The editorial also warns that “all tax revenues attributable to this measure (would) be collected and spent without future voter approval.” It’s not surprising that a conservative media outlet would not be enthusiastic about the measure, but it was interesting that a national publication would comment on a proposed state-level constitutional amendment. The list of the Amendment’s supporters does not include many the state’s major employers, chambers of commerce or economic development organizations:

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