Colorado Progressive Tax Plan Raises Long-Term Bracket Creep Concerns
By Nash Herman | Complete Colorado
Proponents of a progressive state income tax claim that it will give most Coloradans a break on their taxes.
Those familiar with history, inflation, and bracket creep see a much different long-term picture.
Repeating history
The US adopted a federal income tax in 1913, justified by the claim that only about one percent of the population would pay the tax in its earliest years.
Does this sound familiar?
Proponents of Initiative 195, the ballot measure to switch Colorado’s 4.4 percent flat income tax rate to a progressive tax, are adamant that the measure is fair because 97 percent of filers will receive a tax cut.
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