I am a supporter of the single-payer approach to medical insurance, who after “looking under the hood” of ColoradoCare, cannot support Amendment 69. It would impose high and unfair taxes on retirees and create unforeseen problems that cannot be corrected.
Section 9(d) illustrates these problems. Under this clause, the entire Colorado taxable income of a retiree would be subjected to a 50 percent tax “from July 1 until December 31” in the transitional year, while taxable income from W-2’s would only be taxed at 3.33 percent. Retirees with Medicare and employee subsidized supplemental insurance do not need ColoradoCare. This tax is huge and unfair.
The proposed constitutional requirement to pay taxes from July 1 to December 1 for one specific year would create a nightmare for taxpayers and the state, requiring compliance with new paperwork requirements. Every taxpayer with income not shown on a W-2 would have this problem. Interest, dividends, capital gains, etc. would likewise be taxed at 50 percent required to be reported for the above six-month period. No longer would transferring such income categories from your federal tax return would be adequate.
If this act were passed as legislation, it could be easily changed to a 25 percent (still too high in my opinion) tax on retirees’ entire year’s earnings, avoiding the nightmare tax paperwork changes. Colorado constitutional amendments can only be changed by new constitutional amendments, a totally impractical way to make needed changes. I agree with those who argue proposals this complex do not belong in the Colorado Constitution.
Who knows what other problems would be discovered if this proposal passes? I will vote “No”.
John Viner
Durango
