William Taylor: Giving high earners even more money

Regarding the June 28 Point of View “The dangerous TABOR”: A political ploy called “Taxpayers Bill of Rights” should be rejected by 100 percent of middle and lower income voters.

The idea of capping the income tax rate at just over 5 percent is a scheme to eventually replace the income tax with consumer taxes. That is just what the wealthy are longing for because they spend a much lower percentage of their incomes than the middle class on consumer goods.

That lets the high-income class spend on money-making ventures such as savings, stocks, real estate speculation, tax free bonds, etc., that are exempt from sales tax. Of course, investments are needed to ensure available money for the borrower, but why not give the less wealthy a chance to loan some?

This story was originally published June 29, 2016 at 3:24 PM with the headline "William Taylor: Giving high earners even more money."