Longtime political activist Kermitt Waters is preparing to put forward a constitutional amendment via a ballot initiative that would dramatically boost taxes on the mining industry and big businesses with revenue over $1 million a month (gaming exempted). And while we’ve heard of such tax hike efforts in the past, Water’s proposal has a kick: It’s not just a pure tax hike.
Indeed, the hike on mining and big business comes with the complete elimination of all property taxes on single family homes!
Another attention-grabbing aspect of Water’s proposal is the fact that the revenue raised from the tax hikes can’t be spent by the Legislature on what the Legislature wants to spend the money on.