Saturday, October 22, 2011

Colorado’s Proposition 103

The school teacher’s Union is howling that Proposition 103 is “for the children, the K-12 education!”  But the essence of the Proposition is to raise the income tax from 4.65 to 5%, and the sales tax from 2.9% to 3.5%.

The proceeds go into the general fund, and there is no mechanism to segregate the funds and ear mark them for education!  The whole pitch is counter-factual! It’s merely the Democrats trying to raise taxes by hiding behind the children!

Raising taxes in a down economy will do economic damage. The Common Sense Roundtable estimates that 11,000 jobs will be destroyed outright, and 30,000 jobs that would have been created won’t be. This is a bad proposition! Shame on the Teacher’s Union and the rest of the Public Sector leeches feeding at the public trough!

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