Gov. Polis was faux shocked and outraged this week to learn the Biden administration is plotting yet again to tax Coloradans TABOR refunds just as Polis was scheming to do the same.
Now it’s a Battle Royale between the two Democrats to see which one can plunder more of our paychecks for more wasteful government spending that only worsens our inflated economy.
We can’t make this stuff up.
Colorado Politics reports that new guidelines released Wednesday says taxpayers who itemize deductions and don’t deduct the Taxpayer Bill of Rights (TABOR) refunds from the state taxes they paid, will get dinged for more money.
It sounds like some folks could get tripped up by tricky accounting.
Basically, Biden wants to tax Coloradans on taxes they already paid and treat it like new income.
From Colorado Politics:
“TABOR refunds essentially are refunds of sales tax, and so, it looks like they might have a slightly different interpretation just for Colorado. We aren’t sure yet,” said Daniel Carr, spokesman of the Colorado Department of Revenue. “I think the IRS is looking at it as almost a unique type of refund. But we’re still trying to figure out exactly how they’re going to treat us.”
Polis responded:
“Our administration strongly disagrees with the IRS guidance as it fails to factor in that TABOR refunds are returning sales tax dollars in addition to income tax dollars and fees that our citizens have already paid and therefore are an entirely legitimate tax refund and should not be subject to further state or federal taxation.”
We might believe Polis to be somewhat sincere in his huffing and puffing back at the Biden administration, if it weren’t for the fact Colorado Democrats have been trying for decades to roll back TABOR for their own poor spending habits.
But what’s really galling, is Polis’ faux outrage now, just as he has Prop HH on the ballot in November that seeks to completely obliterate our TABOR refunds over the next several years so the state can keep the money.
The audacity would be astounding, if this wasn’t just tax and spend Democrats behaving like tax and spend Democrats, and taxpayers continuing to keep them in office to allow it.