Proposition 103 seeks to amend the Colorado Revised Statues by increasing individual and business income tax by nearly 8% (from 4.63% to 5.00%) and the sales and use tax rate will be increased by over 3% (from 2.93% to 3.00%) for five years. The proposition would require additional tax revenue to be spent on public education. The fiscal note indicates revenue of nearly $3 billion.
The proposition is bad because it fails to direct the legislature on what aspect of “public education” the revenue is to be allocated. Public education is broadly defined to include everything from pre-schools to colleges and universities, along with libraries and museums, not to mention community education. In addition to the definition difficulties and the lack of direction as to allocation of resources, the proposition also fails to offer a plan as to how an increase in revenue will improve education.
Raising taxes on the middle class during tough economic times is not the answer to our state’s and our nation’s lag educationally speaking behind the rest of the world, most notably the EU nations, Japan and South Korea. Students should learn to spend more time in the libraries reading and teachers should be empowered to actually teach. Parents are the third party in the ‘educational contract’ and need to encourage their children and explore the world of knowledge in literature, science, the arts, history, geography, civics et cetera.
Unemployment in Colorado is officially hovering just under 10%, the local unemployment rate is slightly lower. However, a study by the Economics International Corporation suggests consumer spending and business investments will decrease as a direct result of the proposition 103 tax hike, leading to circa 30,500 jobs being eliminated by fiscal year 2017. Such incriminating evidence is allegedly why Governor John Hickenlooper is unwilling to publicly support the proposition.
Election Day is Tuesday, 1 November 2011. Ballots must be received in the County Clerk's Office by 7:00 PM.
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