FT 8-06: Commonwealth Budget for FY2019 (Passed)

[YE]

Am currently thinking of these following tax brackets:
-2%
0%
2%
5%
10%
15%
20%

Not sure on exact income thresholds yet but the highest will be in the hundreds of millions. Also will be added in taxes from the drug bill and cutting the tobacco and alcohol taxes and gut the firearm tax altogether.

[The world will shine with light in our nightmare]

Fully on board with a negative income tax.

Will we need to call in the GM for the revenue projections on drugs?

[Southern Delegate matthew27]

Fully on board with a negative income tax.

Will we need to call in the GM for the revenue projections on drugs?

As long as it is directed towards the avg worker that makes under 50k per year.

That is who deserves a bigger piece of the pie. I could get behind such a negative tax.

[YE]

First of a series of amendments (this one is procedural more or less to add the spending):

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[YE]

Is it bizarre to anyone else that we're getting so much money from the Carbon Tax with our low levels of spending?

[Southern Delegate matthew27]

Am currently thinking of these following tax brackets:
-2%
0%
2%
5%
10%
15%
20%

Not sure on exact income thresholds yet but the highest will be in the hundreds of millions. Also will be added in taxes from the drug bill and cutting the tobacco and alcohol taxes and gut the firearm tax altogether.

How about this amendment? It isn't right that the top 10% is taking something like 90% of the wealth and this would start to fix that.
-8% for 0 through 30k
-2% for 30.1k through 50k
2% for 50.1k through 99.9k
5% for 100k through 249.9k
10% for 250k through 499.9k
15% for 500k through 999.9k
20% for 1 through 10 million
25% for 10.1 million 2 billion
30% for 2 billion and upward

[YE]

I mean those are probably too high given current levels of spending and my intent of allowing the surplus to last but I'm not forcing a vote on it. Can we save the "10% is taking 90% of the wealth" rhetoric for real life please? I think most here support progressive taxation - the key is I'm trying to get the target amount of revenue (~$25 billion or so from progressive taxes) without too much of a surplus.

[Southern Delegate matthew27]

I mean those are probably too high given current levels of spending and my intent of allowing the surplus to last but I'm not forcing a vote on it. Can we save the "10% is taking 90% of the wealth" rhetoric for real life please? I think most here support progressive taxation - the key is I'm trying to get the target amount of revenue (~$25 billion or so from progressive taxes) without too much of a surplus.

Ok, I won't talk about that.

What do you think about this?
-4% for 0 through 30k
-2% for 30.1k through 50k
2% for 50.1k through 99.9k
5% for 100k through 249.9k
10% for 250k through 499.9k
15% for 500k through 999.9k
20% for 1m and up.

[YE]

^That'd end up generating too much revenue.

[YE]

Next amendment (to adjust income tax rates):

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[YE]

Next amendment (to cut sin tax rates):

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[Lumine]

I object. I'd rather keep sin taxes high and discuss lowering taxes elsewhere, particularly if those taxes can act as a deterrent to reduce the consumption of alcohol and tobacco. Also, why get rid of a tax on firearms?

[Southern Delegate matthew27]

I'd rather keep the taxes the same on the rich and reduce them for the little guy.

[YE]

I object. I'd rather keep sin taxes high and discuss lowering taxes elsewhere, particularly if those taxes can act as a deterrent to reduce the consumption of alcohol and tobacco. Also, why get rid of a tax on firearms?

Because it makes no sense to have weed and tobacco at much higher rates than weed? I don't see a reason to tax firearms that disproportionately affect poor rural areas given our fiscal situation.

[The world will shine with light in our nightmare]

A vote on the amendment is open.

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[The world will shine with light in our nightmare]

Aye.  When sin taxes are set too high, people will do anything they can to avoid paying them, in effect creating another black market and causing more hostile confrontations between citizens and law enforcement.  This was the case for Eric Garner, who died during a police chokehold when he was under suspicion of selling "loose" cigarettes.

[YE]

^Also why I didn't increase the weed and other drug taxes to alcohol and tobacco levels in the legalization bill.

Anyhow, aye.

[Goldwater]

AYE

[Southern Delegate matthew27]

aye

[Galaxie]

Eh, aye

[The world will shine with light in our nightmare]

With four votes in favor, the amendment is adopted.

[YE]

Is it bizarre to anyone else that we're getting so much money from the Carbon Tax with our low levels of spending?

[The world will shine with light in our nightmare]

Is it bizarre to anyone else that we're getting so much money from the Carbon Tax with our low levels of spending?

I mean, I wasn't here when Fremont drafted its last budget or adopted the carbon tax.  That revenue figure is awfully large, though.

I'm not sure how we can find the other missing figures without the help of the GM.  Are we at least satisfied with the budget in its current framework?

[YE]

Are we at least satisfied with the budget in its current framework?

I am. I'll get to revising the carbon tax stuff over the weekend (probably once the hurricane nearing the Aloha state that has my fascination passes through and I'm all weathered (pun intended) out).

[YE]

https://uselectionatlas.org/AFEWIKI/index.php/Royalties_Act
https://uselectionatlas.org/AFEWIKI/index.php/Green_Vehicle_Promotion_Act_of_2017
https://uselectionatlas.org/AFEWIKI/index.php/Fremont_Carbon_Taxation_Act_of_2017

Looking at the substance of these bills, this is good policy that just happened to bring in too much revenue. If we're going realistically, this region would have lost tons of manufacturing jobs and the economy would have suffered had tremendously and there'd be a right wing wave against the environmental left.

Most likely I'll half or even fourth the tax rates listed here.