This was the most concerning to me because it was a campaign on “tax the rich” but this gives Colorado the authority to tax everyone more. Not just small business owners can be let down by this.
Partisan politics aside.🇺🇲
To the small business owners across Colorado, I am sorry. I am sorry that voters let you down.
Small business owners have my heart, and supporting them has always been one of my greatest passions.
With the passage of the graduated income tax measure last night, I am deeply concerned about what lies ahead for Colorado's small businesses and the families who depend on them.
Many voters heard the phrase "tax the rich." But what I wish more people understood is that owning a business does not automatically make someone wealthy.
A business can generate $500,000 in annual revenue and leave its owner with just $50,000 after expenses. That $50,000 is what pays the mortgage, puts food on the table, and supports a family.
To be clear, the new tax applies to taxable income, not gross revenue. But businesses with higher taxable earnings may face increased taxes, and those costs can affect their ability to reinvest, expand, hire employees, and remain competitive.
Small business owners take enormous risks. They work long hours, sacrifice time with their families, employ our neighbors, and pour everything they have into keeping their doors open.
Behind every small business is a person. A family. A dream. And often, a lifetime of sacrifice.
To every Colorado small business owner who is worried about the future, I see you. I understand the sacrifices. And I will never stop caring about the people who put everything on the line to build something of their own.❤️