Colorado is facing a fiscal deficit which is larger than any time in our history. Solving this issue will create the framework for our economic future.
Some will argue now is the time to increase taxes, creatively find new fee revenues and eliminate some tax credits which were designed to entice new jobs and economic growth. We are concerned business owners and believe this is the wrong starting point in solving our state’s fiscal problem.
Recently we became aware of a secret plan developed under the guise of “Colorado Reform Roundtable” to push through more tax and fee increase policies in 2011. In radio ads, voters are urged to go to www.secrettaxhike.com to learn more about the plan. We simply cannot allow these policies to come to fruition in 2011.
Students of economic history know you cannot tax your way out of a recession. Colorado cannot tax businesses and individuals more and expect a positive result in job and free enterprise growth.
We believe the economic foundation for solving Colorado’s fiscal crisis is creating new jobs and growing the economy through successful business enterprises. It is our belief that using job creation and growth in free enterprise as the cornerstone criteria for solving our fiscal deficit is just common sense.
As we are confronted with this devastating recession, our first reaction as business owners is not to tell our consumers to “pay us more”. Our initial reaction is how do we find ways to keep our customers while being more efficient and cost effective in delivering our products and services? In doing this, we want to keep our most valuable asset, our staff and employees.
Eventually, we may be forced to restructure and let some go. At other times, we freeze salaries or cut salaries for all employees so jobs can be kept until better times return. The list of difficult choices could be expanded; but, all this is done to “ride out the recession” and be ready for the economic recovery, which will create another opportunity for growth – more jobs, more profits and more tax revenues for Colorado.
Colorado’s state legislators should follow a similar process as they attack Colorado’s 2011 fiscal deficit.
We can assure you that raising taxes, raising fee income and eliminating tax credits will not contribute to Colorado’s growth. Consider what has occurred in the last 36 months.
All of this has occurred and we still have a huge state deficit facing us.
As Colorado business owners, we encourage our legislators to focus on job growth and making Colorado an exceptional state for free enterprise. Giving priority to “tax and spend policies” does not grow an economy. We are asking our state representatives to make a pledge to the people of Colorado: their first priority and major focus for solving our state’s fiscal deficit is create jobs and grow Colorado’s economy through positive business growth policies, not raise taxes, increase fees, or eliminate tax credits.
Also signing this commentary were Jack Hays, Lou Hutchison, T. Scott Martin and Terry J. Stevinson. EDITOR’S NOTE: This is an online-only column and has not been edited.
