Amendment 69 is bad for business
By Cindy Streza
Published Thursday, October 13, 2016 8:36 am
The Delta County Board of REALTORS® is concerned. REALTORS® believe every Coloradoan should know how Amendment 69 could affect their lives, if passed. Amendment 69 would amend our state's constitution to establish a government agency called ColoradoCare System to collect a 10 percent tax on ALL income to provide health care for all -- 10 percent of all income from whatever source the income is received. Workers would pay 3.33 percent and the employer would pay 6.67. There would be a 10 percent tax on salaries, tips, interest, rents, dividends, capital gains and agricultural income. Retirement income currently taxable in Social Security, pensions, annuities and IRAs would have 10 percent taxes added. Amendment 69 would make Colorado's state income tax rate to be 14.63 percent, giving us the highest state tax rate in the entire United States of America.
Amendment 69 starts with the following: "Shall state taxes be increased $25 billion annually in the first full fiscal year, and by such amounts that are raised thereafter, by an amendment to the Colorado Constitution establishing a healthcare payment system to fund healthcare for all individuals whose primary residence is in Colorado..."
This amendment would be exempt from the Colorado Taxpayer Bill of Rights (TABOR). Amendment 69 would create a 15-member interim board of trustees, appointed by the governor and legislative leaders, with the authority to increase the 10 percent tax without voter input. If 69 passes, businesses will leave our state. Colorado will go to the bottom of the list for companies considering a place to start or relocate. The Delta County Board of REALTORS® is confident that the consequences for Colorado will be negative. Vote NO on Amendment 69.
On behalf of the
Board of REALTORS®