Education Funding at the expense of the few.
Are you a family earning less than $150k per year, and thrilled at the thought of not paying for the personal income tax increases proposed under amendment 73?
The additional Colorado tax brackets added under amendment 73 do not appear to be annually adjusted for inflation.
What does this mean??
As you and your partner get those raises and your professional career advances, it’s only a matter of time before you too will pay these taxes.
This Initiative, if passed, becomes Colorado’s version of the former federal alternative minimum tax (or AMT) trap.
Therefore, in the beginning while perhaps only 2% of Coloradan’s will pay the income tax increase, as Colorado’s economy booms and wages increase, the number affected by this tax WILL increase over time.
~ Andy Jones
Understand more by watching this short video from Prager University