The Economy, Taxes and Inflation

Issues

Spending of Trillions of dollars that we don’t have is absolutely wrong. Unfunded government spending is a direct cause of inflation. Continued spending increases by government will not lower the cost of food or gasoline or housing, things that matter to everyone. Frivolous spending pulls employees away from making food, gas and housing, leading to scarcity of these things and therefore higher prices – this is the definition of inflation. We need to control that government urge to splurge.

Small businesses are crucial to the economy and job growth. Some politicians think that government needs to define everything they do with regulations. But the cost of compliance can seriously burden them even if they are already doing the right thing. Overregulation can seriously cut job growth and slow down the economy.

Colorado proposition 120, on the ballot for this November will reduce the property tax assessment rates for multifamily housing and lodging properties, which sounds good, but the property classifications were purposely changed by the legislature AFTER the petition signatures were gathered. It failed at the ballot box this November.

The original proposition 120 proposal was submitted by Colorado Rising with over 190,000 valid signatures.  That was about 70,000 more signatures than they needed to get a proposal on the ballot.  It would have decreased property taxes for most classifications of property in Colorado. SB 293 changed the classification of properties in state law to eliminate many properties from the tax reduction – especially home and business properties. It probably should have had a smaller reduction in rates, and I think SB293 also sabotaged it. Here is a good example of how a more pragmatic, centrist approach would have helped significantly is writing better legislation.

Colorado’s current personal income tax rate is appropriate. Our economy is relatively strong and has provided adequate revenue to the state budget.

Our roads are finally getting some help, but this has been a long time coming. We can’t let them be so neglected again.

The State Legislature keeps trying to add government fees ( instead of calling them taxes, which is what they are) to get around the Tabor requirement of putting them to a vote of the people. We need to protect Tabor! Let the people decide on tax increases.

We supported the recent change to Gallagher amendment that will rebalance the property tax rates between business and residential properties.