Increasingly many seniors are just barely making it financially. If you’re a baby boomer or a little bit older with concerns about how to make ends meet, you’re not alone.
According to the National Council on Aging, one third of senior households have no extra money and may be in debt after meeting essential monthly expenses.
And, sadly senior bankruptcy is on the rise.
Unfortunately, at the very time senior homeowners are met with unexpected medical expenses, and other escalating cost of living increases, Amendment 73 backers are pushing a very deceptive $1.6 billion ‘blank check” tax hike.
"What Amendment 73 actually creates is a totally different property tax system just for school districts," Miller said Thursday. "I think if they stopped there (after the income tax), it would have been fine. It's still a big ask ... but they got into the property tax system." – Steve Miller, Larimer County Assessor, The Reporter Herald.
It is an absolute shame 73’s authors did not consider the ramifications of the measure on senior homeowners.
Though most Coloradans believe public education funding to be a worthwhile expenditure, senior voters can feel justified voting against Amendment 73, especially given our state’s rising cost of living.
Proponents of Amendment 73 want voters to believe the amendment will improve Colorado’s public education system.
However, civic minded senior voters feeling a twinge of guilt for not supporting the school system wherein many sent their own kids, must read the fine print to understand 73.
"While it pains me to oppose a measure that provides more funds for schools, I cannot support a measure that is being promoted on false premises and that takes away protection from significant tax increases on homeowners." - Jana Mendez, Former State Legislator and Boulder County Commissioner
It not only raises their property taxes, it holds zero guarantee the measure will improve opportunities for Colorado students.
As written, Amendment 73:
Does not guarantee dollars for classroom instruction
Does not provide for improving teacher salaries
Offers no assurance more teachers will be hired
Has no provisions to improve graduation rates
Amendment 73 has been scrutinized by a number of key business and economic leaders. Many are joining the fight to protect our state from this deceptive measure … a measure that fails our citizens and especially our seniors.
“What were they thinking?” has become the battle-cry of those fighting Amendment 73 --- the plan to gouge all property owners. If it passes seniors will have to find ways to stretch already-tight budgets.
In Colorado, Social Security payments only cover 36.3 percent of basic living costs. And, many seniors have re-entered the workforce to take hourly jobs just to make ends meet. Seniors who managed their finances to meet retirement obligations are realizing their dollars just may not stretch as far as they’d planned.
Social Security recipients collect $1,295 a month on average, but that payment won’t cover basic living costs in any state, including Colorado … That monthly payment covers only 36.3 percent of basic living costs, ranking the state 11th worst for coming up short. - The Denver Post: HowMuch.net and GoBankingRates Survey
Pro-education seniors need not feel guilty voting no on the blank check Amendment 73.
Many local school districts are floating their own bonds and mill levies to fund specific education program enhancements. Seniors interested in helping education may want to review those measures but should most assuredly vote against Amendment 73.