Gov. Jared Polis wants to eliminate Colorado’s income tax, but as wealth disparities grow it’s not fair to reduce taxes on the state’s top earners
income tax
Posted inElection 2022
Colorado voters poised to cut the state’s income tax rate for the second time in two years
Proposition 121 slashes the rate to 4.4% from 4.55% starting in tax year 2022. Another income tax measure, Proposition GG, passed Tuesday as well.
Posted inElection 2022, News, Politics and Government
Heidi Ganahl wants to eliminate Colorado’s income tax, which accounts for about a third of the state’s budget
Heidi Ganahl, the Republican gubernatorial nominee, is campaigning on a bold promise to eliminate Colorado’s 4.55% individual income tax, the largest source of revenue for the state’s general fund, during her first four-year term. “I will take us to zero income tax,” she told Republican voters during a candidate forum in April. But Ganahl, a […]
Posted inOpinion, Opinion Columns
Opinion: Tax rebates are coming. Everyone should get the same amount
Though many people continue to struggle to make ends meet, and the cost of living in Colorado continues to rise, by any typical measure Colorado’s economy is booming. On average, incomes are rising, jobs are returning —and, in turn, the state is collecting more tax revenue than it’s allowed by the state Constitution to keep […]
Posted inNews, Politics and Government
Here’s the income-tax cut and refund payment Coloradans will get because the TABOR cap was exceeded
Colorado taxpayers will get a break on their income taxes and a refund payment because the state’s cap on government growth and spending under the Taxpayer’s Bill of Rights was exceeded last fiscal year. The income tax rate will drop to 4.5% in 2021, down from 4.55%, and individual taxpayers will get an additional sales […]
Posted inBusiness, News, Politics and Government
Billionaire Phil Anschutz appeals dismissal of his lawsuit seeking $8 million Colorado tax refund
Colorado billionaire Phil Anschutz and his wife, Nancy, want a state appeals court to revive their lawsuit seeking a nearly $8 million tax refund. Phil Anschutz, who controls a vast business empire, has an estimated net worth of more than $10 billion. The Anschutzes argue that changes to federal tax law made through the CARES […]
Posted inBusiness, Crime and Courts, Economy, News, Politics and Government
Billionaire Phil Anschutz and his wife are suing Colorado for a tax refund. How much they want is a secret.
Colorado billionaire Phil Anschutz and his wife, Nancy, are suing the Colorado Department of Revenue for a tax refund in a case that could have big financial consequences for the state. The couple argue that due to changes to federal tax law made as part of Congress’ 2020 pandemic response bill, the CARES Act, Colorado’s […]
Posted inOpinion, Opinion Columns
Opinion: I’ve learned firsthand why Colorado high schools should offer financial literacy education
I was 24 years old, listening to an NPR podcast and driving up the rugged west coast of New Zealand in a campervan, the first time I learned that canceling a credit card hurts your credit. At that point in my adult life, I’d already had three credit cards, canceled one, and thought I was […]
Posted inOpinion, Opinion Columns
Opinion: Wealthy Coloradans should support paying their fair share of taxes
Last month, Colorado passed Proposition 116, which will lower the current flat state income tax rate of 4.63% to 4.55%. Supporters of the measure said that Coloradans needed relief from the economic fallout of the coronavirus pandemic, but this regressive, shortsighted tax cut will end up doing more harm than good. Amidst an economic recession […]
Posted inElection 2020, Politics and Government
The 2020 election untied and retied the fiscal knot in Colorado with decisions on Gallagher and taxes
On the same ballot that cemented statewide Democratic power not seen since 1936, Colorado’s voters once again sent their elected leaders mixed messages on taxes and spending. They voted to raise taxes in one measure, and cut them in another. They authorized expansive new social programs, while limiting the state’s ability to afford the programs […]