The Associated Press today ran a national story focusing on income inequality and how it has affected states’ revenues. The story also looked at how a number of states, including Colorado, rely heavily on income tax for revenue. Because income tax fluctuates so much on account of capital gains, it has proven to be a volatile revenue source for the state.

CFI was quoted in a local AP companion story that ran with the national story. We noted how TABOR prevents lawmakers from adjusting the tax system at all, even if the changes were revenue neutral. Moreover, the state moved to a flat income tax in the 1980s, exacerbating inequality.

Read that article here.