Proposition 116

Colorado's Proposition 116 proposes to cut tax rates for individuals and businesses from 4.63% to 4.55%. This proposition has two differing sides as some people think it will help, "the business owner, like the individual, can spend it better than the state" while others believe it will "disproportionally benefit the wealthiest Coloradans." Despite the divide, Proposition 116 is a policy that represents a policy of free society. Proposition 116 represents a policy for free society as it takes money away from the government and gives more purchasing power to the people and businesses of Colorado. 

Proposition 116 does have some controversy to it. The tax cuts have a possibility to increase Colorado's gross domestic product from $8.1 million to $55.5 million in just 5 years because of the extra spending. This is speculation in hopes that Colorado's population will spend it towards their labor and/ or capital. Some of the worries is that government spending has already been cut and another tax cut will limit spending towards things like education and transportation and that those who have an income of $500,000 will receive more than half of the total tax cut savings. 

In spite of the controversy, Proposition 116 is ultimately a policy that represents free economic ideals as it gives money back to people in which they have the choice to spend wherever and whenever instead of the money being spent on things like education and transportation by the government.