L.C. 9.9 - Lincoln Budget Fiscal 2021

[S019]

Amendment

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) = $269.89bn

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) = $32.42bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3)

===============================

TOTAL EXPENDITURES - $ 755.80 billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
10% 12%    $25,000 - $49,9999 ($13.19 B)
16% 18%    $50,000 - $99,999 ($58.66 B)
23% 24%   $100,000 - $249,999 ($131.46 B)
28% 30%   $250,000 - $999,999 $489,999 ($80.20 B)
35%   $490,000 - $999,999
33% 39%   $1,000,000 + ($46.28 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B)
5%   $100,000 - $499,999 ($0.27 B)
5% 8%   $500,000 - $999,999 ($0.16 B)
10%  $1,000,000 - $4,999,999 ($1.00 B)
10% 14%  $5,000,000 - $9,999,999 ($0.68 B)
15%  $10,000,000 - $24,999,999 ($1.94 B)
15% 19%  $25,000,000 - $49,999,999 ($1.82 B)
15% 23%  $50,000,000 - $99,999,999 ($2.22 B)
15% 26%  $100,000,000 - $249,999,999 ($3.83 B)
15% 30%  $250,000,000 - $499,999,999 ($4.45 B)
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B)
15% 36%  $2,500,000,000 + ($141.91 B)
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B)

Carbon Tax (LC 2.20)
20$ per metric ton of CO2: $35.03 B

===============================

TOTAL REVENUES - $690.09 B
===============================

PROJECTED DEFICIT - - $ 65.71 B

I think this might be a good starting point, open to feedback though

Also ignore the numbers in parenthesis, the math for those needs to be done again

[S019]

I'd like to declare Wulfric's amendment unfriendly, but not hold a vote on it immediately, I want us to eventually have a vote on it or not yet, so consider this as me declaring unfriendly at some unspecified point in the future.

[S019]

Unfriendly, tax cuts are unwise when we already have a deficit

[S019]

NAY

[S019]

So here's where we are on this. My original intention was to have a figure of how much both of the government amendments raise (S019's and Mine), as well as updated cost figures for the rest of the budget. We would then vote on My amendment, then S019's amendment, then whatever else we need to do, and then final passage. However, it's unclear when or if we can get official math calculations. Blairite is not avaliable right now (and I'm not going to badger the admin into replacing him, that's MB's decision alone) and Lumine isn't comfortable doing it. I could potentially do some back of the envelope math, but I don't really have a way to account for population growth/inflation/etc. And we can hardly pass a budget without math, because then we don't know if we're in a deficit or surplus.

So here are our options:

1) Do nothing until Blairite or whoever bails us out
2) Have either myself or someone else in the Council (please speak up if this is for you!) do the math as best we can, with the understanding that accuracy may be lacking.
3) Pass a budget that leaves last year's math in the text, with the intention to amend this budget later when proper math is received. This would allow us to re-open our government soon, but on the other hand, it leaves our financial situation a mystery and might bind a future council to further action on this budget.

This isn't a vote, this will be a decision by consensus. How do you guys want to move forward?

Apparently Option 2 is what will likely happen unless we have a new CG, and that's what the other regions seem to be doing as well, they are just extrapolating the numbers from last year's budget, so I guess we assume that everything is in equilibrium?

[S019]

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) = $269.89bn

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) = $32.42bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3)

===============================

TOTAL EXPENDITURES - $ 755.80 billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
10% 12%    $25,000 - $49,9999 ($13.19 B) 15.828 B
16% 18%    $50,000 - $99,999 ($58.66 B) 65.9925 B
23% 24%   $100,000 - $249,999 ($131.46 B) 137.17565 B
28% 30%   $250,000 - $999,999 $489,999 ($80.20 B)
35%   $490,000 - $999,999
33% 39%   $1,000,000 + ($46.28 B) (54.6946 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B)
5%   $100,000 - $499,999 ($0.27 B)
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B)
10%  $1,000,000 - $4,999,999 ($1.00 B)
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B))
15%  $10,000,000 - $24,999,999 ($1.94 B)
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B)
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B)
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B)
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B)
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B)
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B)

Carbon Tax (LC 2.20)
20$ per metric ton of CO2: $35.03 B

===============================

TOTAL REVENUES - $690.09 B
===============================

PROJECTED DEFICIT - - $ 65.71 B

So here are the extrapolated numbers for my plan (un-official) and also apparently the gas tax was repealed, so we need to pass that again or just do without it. So, after doing this it's clear that we need the corporate hikes, because the other taxes barely did anything to the deficit.


EDIT: last time the corporate numbers were calculated weirdly, so ignore what I did, income numbers are fine though

[S019]

Good to see that we are out of the red, but there are bills with additional spending to score, which might put us back in there. I still prefer my amendment given that, but we should wait for those bills to be scored.

[S019]

So now that we have scores time to update this

S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 260 bn (L.C. 7.7) = $269.89bn $532.89 bn

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) [/b  = $32.42bn 105.42 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - $802.243428 with inflation adjustment 1.06531648 trillion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
10% 12%    $25,000 - $49,9999 ($13.19 B) 15.828 B
16% 18%    $50,000 - $99,999 ($58.66 B) 65.9925 B
23% 24%   $100,000 - $249,999 ($131.46 B) 137.17565 B
28% 30%   $250,000 - $999,999 $489,999 ($80.20 B) $27.5 B
35%   $490,000 - $999,999 $68.17 B
33% 39%   $1,000,000 + ($46.28 B) (54.6946 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: $369.36075 Billion

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

===============================

TOTAL REVENUES - $690.09 B $858.68703
===============================

PROJECTED DEFICIT SURPLUS -  $56.443602 B -206.629398 bn

Scores for my amendment, given the giant cost of L.C. 7.7, I think we have no choice but to go with my plan

Unsure as to whether L.C. 7.8 is an expense or revenue maker, PM'ed the CG, hopefully he gets back to me soon, but this is where we stand. Also couldn't figure out how to score the tourist tax, but I doubt it will cover our new deficit.

[S019]

Also going to put forward an amendment, 24 hours to object


S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 260 bn (L.C. 7.7) = $269.89bn $532.89 bn

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) [/b  = $32.42bn 105.42 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - $802.243428 with inflation adjustment 1.06531648 trillion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
12% 13%    $25,000 - $49,9999 15.828 B 17.147 B
18% 20%    $50,000 - $99,999  65.9925 B 73.325 B
24% 27%   $100,000 - $249,999  137.17565 B 154.3226063 B
30% 33%   $250,000 -$489,999   $27.5 B 30.25 B
35% 39%   $490,000 - $999,999 $68.17 B 75.96085714 B
39% 45%   $1,000,000 +  (54.6946 B) (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: $369.36075 Billion 414.1146173 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax
3% 10%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

===============================

TOTAL REVENUES - $858.68703 903.4408973 B
===============================

PROJECTED DEFICIT SURPLUS -  -206.629398 bn -161.8755307 B

Also going to propose a wealth tax increase, since I think we've maxed out on the income taxes, idk how to score it though, and I'm lost trying to figure out what happened last time.

[S019]

Also last time the income tax was scored based on the income of the owner not the property value, so I will be sending that to the Comptroller, to be ummm fixed.

[S019]

As sponsor, I object to sending this to a vote during Final Business Period for obvious reasons

[S019]

Amendment, I got property tax numbers from the CG to change the method of collecting it to be based on property value, and calculated the old property tax values by using my calculator, so hopefully they're right? Also bringing back the wealth tax for flexibility purposes

S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) = $269.89bn $271.38 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) = $32.42bn 32.49300 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - $802.243428 Billion 785.497 Billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
12% 0%    $25,000 - $49,9999 15.828 B 0 B
18% 20%    $50,000 - $99,999  65.9925 B 73.325 B
24% 27%   $100,000 - $249,999  137.17565 B 154.3226063 B
30% 33%   $250,000 -$489,999   $27.5 B 30.25 B
35% 39%   $490,000 - $999,999 $68.17 B 75.96085714 B
39% 45%   $1,000,000 +  (54.6946 B) (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: $369.36075 Billion 396.9676173 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

===============================

TOTAL REVENUES - $858.68703 792.3238973 B
===============================

PROJECTED DEFICIT SURPLUS-  -206.629398 bn 6.8268973 bn 145.5968973 bn

Okay, we finally have a massive surplus, yay, waiting for some more stuff on the CG, but I think we're close to a final product now

[S019]

Has anyone actually realized the Combined margin top tax rate would be 85% ?
https://talkelections.org/FORUM/index.php#6
Maybe we should ask for the comptroller to grade tax revenue on the Laffer curve, and 85% would clearly be on the right side of the Laffer curve. The Laffer curve is often exaggerated but there is a clear point where it happens. There is no reason for a 15% tax increase from 39 to 45 to result in a direct 15% increase in revenue in that bracket.

Given Fremont is literally taxing people at 99.9%, this is an improvement! Also there's a massive surplus, so there will probably be some decreases to the hikes

[S019]

Going to propose an amendment to make these rates a bit more reasonable

S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) = $269.89bn $271.38 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) = $0.13bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) = $32.42bn 32.49300 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - $802.243428 Billion 785.497 Billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

===============================

TOTAL REVENUES - 792.3238973 B 728.4614598 B
===============================

PROJECTED DEFICIT SURPLUS-  145.5968973 bn 81.73445976 B

[S019]

S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) = $269.89bn $271.38 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) = $32.42bn 32.49300 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 785.497 Billion 788.0095 Billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 728.4614598 B 728.5603254 bn
===============================

PROJECTED DEFICIT SURPLUS-  81.73445976 B 79.32082536 Billion

Yet another amendment , a former GM provided some scores to me that the CG had difficulty with.

[S019]

S019 AMENDMENT

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) = $269.89bn $271.38 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) = $32.42bn 32.49300 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 785.497 Billion 788.0095 Billion

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

Gas (L.C. 3.2):
Lowest 20% earners-5¢/g ($0.21 B)
Second lowest 20%- 15¢/g ($0.93 B)
Mid 40%-60%- 30¢/g ($2.69 B)
60-80%- 40¢/g ($4.55 B)
Upper 20%- 60¢/g ($8.27 B)
Total: $16.55 B

Diesel (L.C. 3.2):
Lowest 20% earners-20¢/g ($0.28 B)
Second lowest 20%- 30¢/g ($0.62 B)
Mid 40%-60%- 50¢/g ($1.49 B)
60-80%- 60¢/g ($2.27 B)
Upper 20%- 75¢/g ($3.45 B)
Total: $8.11 B

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
208$ per metric ton of CO2: $35.036.4312 B

Flat Gas Tax (LC 8.5): $28.924 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 728.4614598 B 728.5603254 bn
===============================

PROJECTED DEFICIT SURPLUS-  81.73445976 B 79.32082536 Billion

Yet another amendment , a former GM provided some scores to me that the CG had difficulty with.

Revenues - 728, Expenditures - 788 = Surplus?

Somewhere the math got out of whack here?

I think I never added the property tax increase to revenue, and that might've messed up the numbers

[S019]

I am in talks with the CG, and have sent him all of the remaining legislation to score and hopefully we can get updates for the property tax brackets as well

[S019]

Objection, there are still some massive costs I need to add into the budget

[S019]

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) + 180 bn (L.C. 6.17) =  $271.38 bn $451.38 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) + 252 mil (L.C. 5.15) + 250 mil (L.C. 9. = 32.49300 bn 37.995 bn

One time additional spending - $39.54bn (L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 788.0095 Billion 968.5115 bn

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B)

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
28$ $33 per metric ton of CO2: $36.4312 INSERT NEW NUMBER HERE B

Flat Gas Tax (LC 8.5): $28.924 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 728.4614598 B 867.330324 B
===============================

PROJECTED SURPLUS DEFICIT-  79.32082536 Billion $-101.1811746 bn

So I have gotten more costs back, also our property tax was still scored incorrectly, for reference, I was told we'd get around $300 billion from the top bracket alone, I am waiting for full property tax numbers, but for that reason, don't worry that we have a deficit now, since it'll be erased once I get full numbers. Also proposing a carbon tax hike, if you want to know why, please see L.C. 10.13

[S019]

I won't support anything with a wealth tax.

Is this an objection to my amendment, since the wealth tax is something from the last budget?

[S019]

L.C. 3.7 Finding True North Act: https://talkelections.org/FORUM/index.php?topic=325737.0


Update: we are almost done, all that needs costing is the above tax credit repeal and the property tax

EDIT, these bills that we passed since, may need to be costed, though we could leave them for the next budget:

https://talkelections.org/FORUM/index.php?topic=420093.0

https://talkelections.org/FORUM/index.php?topic=421709.0

https://talkelections.org/FORUM/index.php?topic=430513.0

[S019]

So, this means we are up to date on everything except lower bracket property taxes, rail expansion, and the carbon tax hike, also edit: the 300 bn number assumed a 1% rate, since we have a 5% rate, it's actually 1.5 trillion

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) + 180 bn (L.C. 6.17) +2.377187 bn (L.C. 10.5) =  $451.38 bn 453.757187 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn 31.33389046 (inc. L 14.9) + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) + 252 mil (L.C. 5.15) + 250 mil (L.C. 9. = 37.995 bn 37.88889046 bn (-0.106109542 bn)

One time additional spending - $39.54bn(L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 968.5115 bn 968.4053905 bn

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B) $1500 bn

Total: $180.54 B $280 B

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
28$ $33 per metric ton of CO2: $36.4312 INSERT NEW NUMBER HERE B

Flat Gas Tax (LC 8.5): $28.924 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 867.330324 B 2539.730324 bn
===============================

PROJECTED DEFICIT SURPLUS-  $-101.1811746 bn 1388.947748 bn

[S019]

Amendment again, scored tourist tax and scrapped property taxes on properties worth under $1 million, if the remaining bills wreck our budget, we can bring them back

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) + 180 bn (L.C. 6.17) +2.377187 bn (L.C. 10.5) =  $451.38 bn 453.757187 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) =$54.66bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn 31.33389046 (inc. L 14.9) + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) + 252 mil (L.C. 5.15) + 250 mil (L.C. 9. = 37.995 bn 37.88889046 bn (-0.106109542 bn)

One time additional spending - $39.54bn(L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 968.5115 bn 968.4053905 bn

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B $1500 bn)

Total with Multiplier: $180.54 B $280 B $1500 bn

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
28$ $33 per metric ton of CO2: $36.4312 42.9367714281 B

Flat Gas Tax (LC 8.5): $28.924 B

Tourist Tax (L.C. 4.3): 0.1245052828 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 2,582.6670954281 B 2582.791601 B
===============================

PROJECTED DEFICIT SURPLUS-  1,614.2617049281 1614.38621 B

[S019]

One final amendment and last piece of legislation to be scored (yay!)

I think we should move for a final vote in 24 hours (when the objection time for this amend is over)

IN THE LINCOLN COUNCIL

A RESOLUTION

Establishing the budget for the Lincoln Government lasting from October 2020 until September 2021

Resolved by the Lincoln Council convened,

Expenditures

Health - $269.89bn + $1.49bn (L603) + 0 bn (L.C. 7.7) + 180 bn (L.C. 6.17) +2.377187 bn (L.C. 10.5) =  $451.38 bn 453.757187 bn  No Funds may be used to carry out or enforce L.C. 7.7

Pensions - $104.40bn + $0bn (LC 11.11) = $104.40bn

Education - $105.19bn + $ 35.63bn (L505, L601, L 12.9, L 13.06) = $140.82bn

Defence - $0.10bn + $0.03bn (L 11.22) + $2.5125 bn (L.C. 5.13) = $0.13bn $2.6425 bn

Transport - $54.18bn + $0.48bn (L 15.6) + $313.4737258 B (L.C. 9.14) =$54.66bn 368.1337358 bn

Welfare - $40.93bn + $0.22bn (L 11.4.2, L 14.9) = $41.15bn

General Govt - $20.27bn + -$0.11bn (L513, L 15.9) = $20.16bn

Debt Interest - $23.30bn

Protection - $23.83bn + $4.86bn (L 6.4.3, L 7.3.1, L 10.16.5) = $28.69bn

Other - $31.44bn 31.33389046 (inc. L 14.9) + $0.98bn (LC 1.13) + 3 mil (LC 8.2) +50 mil (L.C. 5. +20 mil (L.C. 4.2) + 252 mil (L.C. 5.15) + 250 mil (L.C. 9. = 37.995 bn 37.88889046 bn

One time additional spending - $39.54bn(L 6.5.1, L 7.1.1, L 7.4.2, L 7.5.1, L 9.10.5, L 10.16.5, L 10.26.5, L 11.17, L 15.3, L.C. 7.6)

Grants - Public Transit (LC 8.5): $28.924 B

Grants - Small Business (LC 9.: $250 Million

===============================

TOTAL EXPENDITURES - 968.4053905 bn $1336.539116 B

===============================

PROPOSED TAXES

Income tax
0.0%    $0 - $24,999 ($0 B)
0%   $25,000 - $49,9999 0 B
20% 13%    $50,000 - $99,999  73.325 B 47.66125 B
27% 22%   $100,000 - $249,999 154.3226063 B 125.7443459 B
33% 29%   $250,000 -$489,999   30.25 B 26.58333 B
39% 36%   $490,000 - $999,999 75.96085714 B 70.11771 B
45%   $1,000,000 +  (63.10915385 B)

Rates remain the same for married couples filing jointly, but brackets are doubled.

INCOME TAX TOTAL REVENUE: 396.9676173 B 333.1051798 B

Alcohol Tax
12% ($6.84 B)

Tobacco Tax
12% 35% (L.C. 6.18) ($3.42 B) (9.975 B)

Cannabis Tax
12% ($2.49 B) + $1.25bn (L10.25.4) = $3.74 B

Other drugs tax (L10.25.4) = $0.58bn

New automobile purchase tax (by curb weight): $120 per thousand kilograms ($1.02 B)

Luxury Tax
30% ($6.48 B)

Wealth Tax -  0%
3%
Total Wealth Tax with Lincoln Population Multiplier = ($39.31 B)

Property tax
0.0%    $0 - $24,999 ($0 B)
1%   $25,000 - $49,9999 ($15.53 B)
2%    $50,000 - $99,999 ($54.57 B)
3%   $100,000 - $249,999 ($78.63 B)
4%   $250,000 - $999,999 ($24.21 B)
5%   $1,000,000 + ($7.60 B $1500 bn)

Total with Multiplier: $180.54 B $280 B $1500 bn

Estate Tax
15%  $10,000,000 - $19,999,999 ($0.61 B)
15%  $20,000,000 - $49,999,999 ($1.66 B)
20%  $50,000,000 + ($6.79 B)
Total Estate Tax with Lincoln Population Multiplier = ($2.82 B)

Corporate Tax
0.0%  $0 - $99,999 ($0 B) * .36 = $0
5%   $100,000 - $499,999 ($0.27 B) * .36 = .0972 B
5% 8%   $500,000 - $999,999 ($0.16 B) (0.256 B) * .36 = .09216 B
10%  $1,000,000 - $4,999,999 ($1.00 B) * .36 = .36 B
10% 14%  $5,000,000 - $9,999,999 ($0.68 B) (0.952 B) *.36 = .34272 B
15%  $10,000,000 - $24,999,999 ($1.94 B) * .36 = .6984 B
15% 19%  $25,000,000 - $49,999,999 ($1.82 B) 2.305 B * .36 = .8298 B
15% 23%  $50,000,000 - $99,999,999 ($2.22 B) (3.404 B) * .36 = 1.22544 B
15% 26%  $100,000,000 - $249,999,999 ($3.83 B) (6.639 B) * .36 = 2.39004 B
15% 30%  $250,000,000 - $499,999,999 ($4.45 B) (8.9 B) * .36 = 3.204 B
15% 32%  $500,000,000 - $2,499,999,999 ($21.09 B) (44.902 B) *.36 = 16.16472 B
15% 36%  $2,500,000,000 + ($141.91 B) (340.56 B) *.36 = 122.6016 B
Total Corporate Tax with Lincoln Population Multiplier = ($55.86 B) ($148.00608 B)

Carbon Tax (LC 2.20)
28$ $33 per metric ton of CO2: $36.4312 42.9367714281 B

Flat Gas Tax (LC 8.5): $28.924 B

Tourist Tax (L.C. 4.3): 0.1245052828 B

Fines

(L.C. 6.19): 0.0988656 B

===============================

TOTAL REVENUES - 2,582.6670954281 B 2582.791601 B
===============================

PROJECTED DEFICIT SURPLUS-   1614.38621 B 1246.252484 B

[S019]

Objection, I don't see a reason for scrapping the wealth tax