While the country as a whole is in a slow growth mode, Colorado is booming and the Denver real estate market is going wild. Denver has been rated the hottest home buying market in the entire country according to the Standard & Poor’s city home price index. Finally all of those in the political and big business coterie are going to get their chance to tax the lumpenproletariat into a spending oblivion. Yes, it’s true that because of the annoying TABOR Amendment to the state constitution, the little people must approve new tax measures, but that is where the more recent marriage of the politicians and big business comes in handy.
In more antediluvian times the business class often opposed new taxes sought by the political class. That was before big business learned that new taxes could be fun and profitable. Take for instance sales tax and property tax hikes. Big business figured out how to direct a significant portion of those taxes to themselves in the form of “tax increment financing” and tax rebates. A perfect example is the Colorado Regional Tourism Act which was designed by Colorado Springs businessman Steve Schuck to have the public pay for his proposed NASCAR race track in Aurora. When his project fell through, the folks from Gaylord Entertainment in Nashville glommed on by hook and by crook all of that potential tax money for their proposed Aurora hotel. Sure it got tied up in litigation, but someone had to take the public for a bath.
Government entities are prohibited by law to spend money to back new tax initiatives so business groups like Colorado Concern and the Denver Metro Chamber of Commerce foot the bill provided mem
bers of the Chamber and Colorado Concern get their cut of the action. We here in Denver love new taxes of virtually any sort as our esteemed mayor knows. When Mayor Hancock planned to quietly move the National Western Stock Complex from Denver to Aurora for the benefit of the incredibly greedy Gaylord Entertainment, he proposed that the move be paid by Denver taxpayers and not those in Aurora. Killjoy City Councilman Charlie Brown managed to thwart that con job, but few doubt that if it had gotten to ballot we Denver voters would have approved it despite the fact that it would have significantly harmed the city as a whole.
Now is the time to get any and all new taxes approved as the voting taxpayers are feeling flush. Moreover, Hancock and the City Council are counting on the contention that Denver voters are probably too dumb to figure out that massive increase in home values also means that there will be a massive increase in the property taxes we have to pay. If you live in an apartment complex don’t worry you won’t miss out on the fun as your landlord will simply add the cost of the tax increase along to you by bumping up your already exorbitant rent.
But we have to act fast, as those future property tax increases will become apparent to even the dullest homeowner in a couple of years. Where will all that increased property tax money go? It will go right to employing more municipal employees and provide large raises to one and all but in particular those represented by public employee unions. Don’t worry your city councilmember already voted herself/himself a hefty raise last year which will kick in over the next couple of years.
The Denver City Council as a whole is doing its part in the courageous tax effort. Just this last month it voted to put a .08 percent sales tax increase on the ballot for the so called Denver College Affordability Fund that will reimburse nonprofit organizations that provide scholarships as well as paying down the loans of graduates saddled with debt. So do you think you will ever see any of that money? Well, of course not. Only the politically connected need apply which of course includes the children and relatives of elected officials. O.K. you had to a pay a small fortune for your own college degree and that of your kids so why should you have to also pay for the politically favored to go to college? Because that is the way it works and if you are even thinking about voting “no” it proves you have no community mindedness or human compassion.
But what about the things like the hotel tax and the car rental tax. Can’t we raise those too? Don’t worry the mayor and the City Council have a massive proposed bond issue to pay for a makeover of none other than the National Western Stock Complex. At least because of Councilman Brown the National Western Complex will remain in Denver at least for a little while.
But what about also adding on some more taxes to our load through the auspices of the state? Now you’re thinking smart. A new group entitled “Building a Better Colorado” has been formed according to The Denver Post headed by none other than our beloved octogenarian, bipartisan, philanthropist Daniel L. Ritchie. Forget about the fact that some who know him call him a smug, unctuous Harvardian snob who loves to turn up his nose at anyone who doesn’t have a net worth of at least eight figures. This time Ritchie is working hard for all of us in coming up with a whole plethora of new state taxes we can approve this fall and next in order to build a better Colorado for himself and his business buddies. Hopefully, by our next issue we will know more about some of the fruits of his and his group’s Herculean labors on our behalf. Yes, if we can all work together we can take the average Denver taxpayer for a ride she/he will never forget or recover from when the good times end as they inevitably will.
— Editorial Board
