Amendment 69 is a bad idea for several reasons. First, this is another attempt to change our state Constitution, making it hard to repeal or amend, when action by the state Legislature could achieve the same result.
Second, this amendment would establish “a new statewide system to finance health care services,” which is just another way of saying it will create yet another huge state bureaucracy.
Third, even if you have “alternative forms of coverage” (such as employer-based health insurance, private insurance, etc.) you “will still be required to pay the new taxes that fund ColoradoCare” (the proposed new health care system.) Since ColoradoCare may not be fully implemented for a couple of years, you would have to pay for both insurance coverages at the same time.
Fourth, “the new taxes will be in addition to the state’s current 4.63 percent income tax.” The full tax rate for both wage and non-wage income will be 10 percent. Additional taxes will also be levied on non-wage income including “capital gains, dividends, interest, rental income, non-corporate business income, and retirement income, including Social Security income.” For retirees and investors alike they would see a 10 percent decrease in income over the exempted amount.
Last, the amendment states several times that Coloradans “may have savings” and refers to “potential savings” without any guarantees that it will be effective or a cost-saving measure.
Jan Saunders
Cortez