Vail Daily letter: Wrong about measures
Vail, CO, Colorado
Louise Funk is in a funk because someone wants to lower her taxes. She wrote to complain about the three tax relief ballot issues – 60, 61, and 101. She is with the opposition campaign committee.
Calling a 2 percent slowing of future government revenue growth “drastic” is more than an exaggeration. She is whipping up false fears.
She objects to protecting children from repaying our skyrocketing government debt. State debt has tripled in the last 10 years, and repayment costs have doubled. That’s not an opinion but the finding in the state voter guide.
State debt is $17 billion, and local debt is $36 billion. That’s over $10,000 per man, woman and child, yet her side wants even more borrowing. The bond dealers group gave them $100,000 to save their sales commissions.
She says there’s “no way to replace” with state aid the 10-year phase-out of a small amount of school revenue. The yearly school amount is under 3 percent of total revenue.
State spending is about $20 billion, up 476 percent since 1984. Yearly replacement would cost 0.6 percent of that huge amount. Schools won’t lose one dollar.
The state wastes at least 1 percent of its revenue yearly it could send to schools instead.
Car registration fees will not be $1 and $2; they will be $10. She is mixed up. A flat $10 for 5 million cars means $50 million yearly to press buttons, usually recording “no change in status.” The state now pays county clerks $4 per registration but charges us an average of $81. The other 95 percent is diverted. That fee more than doubled last year, remember?
There is no $2 billion state loss. Her major error is income tax revenue won’t decline from reducing the rate 0.1 percent because that occurs only when income tax revenue grows over 6 percent. That will take 15 to 20 years, according to the voter guide, so revenue will be nearly triple by the time the full 1 percentage point rate reduction occurs. A slower rate of growth is not a cut.
Lower taxes have never caused a recession. When after-tax profits increase, business hires people. Consumers have more to spend. The website COtaxreforms.com links on its home page a Wall Street Journal column by a Harvard professor of political economy. He studied 37 years of date in 21 countries and found that government spending causes recessions, and lower spending and lower taxes promote recovery. To create jobs, lower taxes. That’s Economics 101.
Those scary TV ads say “73,000 jobs,” but their figures ranged from 20,000 to 100,000 this summer. All are bogus. They paid a staff member to come up with a number. See “Fibs by Foes” No. 1 at the site.
She writes the measures “inundate businesses with runaway fee increases.” None of the issues raises any fees – another falsehood. She says the issues “punish homeowners by requiring payment in advance” on state infrastructure needs. Homeowners can’t pay state infrastructure. There is no state property tax – another falsehood. Had enough deception from their $6 million corporate campaign? Vote “yes” on 60, 61 and 101.
Western Colorado campaign coordinator for 60, 61, 101, Cedaredge