Colorado voters decide: Hike income, sales taxes for education?
Blog by Ashley Powers/Los Angeles Times
In a test of whether recession-scarred voters have any stomach for new taxes, Colorado residents will decide Tuesday whether to drum up nearly $3 billion for education by temporarily increasing state income and sales and use taxes. The debate over the measure closely mirrors recent rancor in Washington over the question of whether more spending will revive a moribund economy or slow down a nascent recovery. A likely swing state in 2012, Colorado is a particularly interesting place to see which argument voters cotton to. Its population is well-educated, with more than one-third of residents older than 25 holding at least a bachelor’s degree. But the state’s unemployment rate has been stuck around 8%, and a solid share of the electorate finds taxes distasteful, passing a major tax-limitation measure in 1992. (more...)