Refund? Rebate? What’s the difference man!

Well if you are talking about TABOR, Colorado and Ref. 23, there’s a lot of difference.

Lets start with those pesky taxes, you know, the ones the state takes out of your paycheck? If they take more than they were suppose to take, then you get a “refund”. They are just giving you back what they over-took.

If you’re getting a refund every year go see a tax professional and have your withholding changed. Then you’ll pay just the right amount of tax and get to enjoy, or invest, the “refund” every two weeks instead of once a year.

When we start talking about TABOR a lot of you are going to roll your eyes and curse the state government. Ok, lets all do that together now...

All Better? Great! The deal with the TABOR rebate is that you haven't been getting it for the last few years and you didn’t even miss it, did you?

The “rebate” is for sales tax revenue that is collected that the state is not allowed to keep. You get a “rebate” if all the other things sales tax pays for are full and the money is left over. Since there has been no money left over there has been no “rebate”

Those two ballot initiatives that we’ll be voting on this fall are about letting the state keep the “rebate” money, if there is any, and letting them spend it on stuff like roads - which are full of holes, and bridges - some of which are falling down. (fell free to sing the london-bridge-is-falling-down song now).

So if you’ve been getting all bent out of shape over this “refund” “rebate” debate just remember this: You’ll continue to get your income tax refund at the end of the year. If those two referendums pass this fall then you will get your income tax refund same as last year. If they pass we’ll all get better services from the state government and you’ll still get your income tax refund.

Read My Two Cents Worth at: www.oocities.org/valueopinion/index.html