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Hello friends,
You know what I learned this week? The nonpartisan Institute on Taxation and Economic Policy (ITEP) just took a look at our proposed ballot measure to introduce a graduated income tax.
According to their analysis, 94% of the revenue generated from the increase in corporate taxes would come from non-resident businesses. In other words, of the small portion of corporations that would pay slightly more on net (not gross) revenue of over half a million dollars in a year, the vast majority of them aren’t even based in Colorado.
As we dive deeper into the signature collection phase of this monumental effort it is becoming more and more clear to me that Coloradans are ready for this common sense change to our tax system. Those individuals and corporations making over half a million dollars in taxable income can afford to pay a little more. And people who are struggling or just barely making ends meet deserve a break. It’s that simple, and Colorado voters get it.
In a time when it feels like we’re being relentlessly assaulted with bad news, I hope you can take hope in the growing momentum and resolve of this movement to fight for communities across the state. I know I can.
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