Heath’s $3 billion tax increase: Open for business?" />

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Heath’s $3 billion tax increase: Open for business?

Posted by Kelly Maher on August 23rd, 2011
 
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Colorado state Sen. Rollie Heath, D-Boulder, argues that a $3 billion tax increase for education would send the message that Colorado is “Open for business.” I think it’s more like putting up a “Closed” sign.

Here’s what Heath said at his Aug. 1 press conference, marking the delivery of more than 142,000 petition signatures for a November ballot issue that would raise income and sales tax rates for five years.

“So now let me ask you for a moment, just to think ahead with me to Nov. 2 and this initiative has just passed,” Heath said. “I truly believe that the headlines across the country will be, ‘Colorado votes to break with the pack…and to reinvest in education and jobs.’ Can there be, can there be, a better message to send to the rest of this country, and to the world that Colorado, is truly open for business? I don’t think so.”

Open for business? Is a tax increase the way to convey that Colorado is truly open for business? The Common Sense Policy Roundtable released a report in April that the higher taxes would be a job killer:

“The reduction in growth rates over time indicate that the Heath Measures will reduce employment by 30,500 by 2017,” according to the analysis by Eric Fruits, Ph.D., of Economics International Corp.

Heath said at a committee hearing in April that in recruiting companies, “They don’t ask you about taxes. They ask us about your education, they ask you about your infrastructure. You don’t get asked taxes ’til way down the line.”

With Coloradans facing an 8.5% unemployment rate and a tough economy, this may be the worst time to enact tax-and-spend policies.

To say now that a tax hike is the best way to send a message that Colorado is “open for business” is not only disputed by economic analysis, it sounds like nothing but a sales job. Are you buying?

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  • Post by Kelly Maher on August 23rd, 2011

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