Tax Increase Bill

[MasterJedi]

That amendment has not passed, you need one more to have a majority becuase nobody abstained.


And:

The debate for another amendment starts as soon as a vote for another ends so that means there has to be 24 hours before that amendment can be voted on.

[WMS]

Well let me take care of that.

Aye on the amendment that's being voted on currently (Speedy's amendment IIRC).

[Democratic Hawk]

That amendment has not passed, you need one more to have a majority becuase nobody abstained.

Yes, my mistake . I've kept a record of all votes since I joined the Senate and I thought I came across instances where amendments had passed (5:1:0) but having rechecked they'd passed (5:0:1)

Anyway with Senator WMS' vote the amendment has passed, with 6 'Ayes', 1 'Nay' and 0 Abstentions

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I think I may have misinterpreted the term concurrent in the context of the Section 2: Rules on the Introduction of Amendment(s), Clause 2 of the OSPR:

2. If two (2) or more amendments are contained within a single post by any Senator, the debate time for such a proposal shall be the same as it would be for a single Amendment. If two (2) or more Amendments are contained within two or more separate posts, each post shall be treated as a separate Amendment, with debate time allocated for each single post being concurrent with the provisions for each single Amendment in Section 3 of this Article

Section 3: Rules on the Senate Debate of Amendment(s)

1. After an Amendment is proposed, it shall be debated for no less than twenty-four (24) hours and for no more than seventy-two hours.

2. If debate on the Amendment under consideration has halted for longer than twenty-four (24) hours during the timeframe specified by Clause 1, any senator may call for a vote on said amendment.

Basically, I've misinterpreted the term 'concurrent' and assumed the debate runs concurrently from the time that they were introduced, rather than from the time the vote on the previous amendment ends

My apologies, debate continues on my amendment

It would seem yours truly keen to get Senate business running like clockwork has gone into overdrive

'Hawk'

[Dr. Cynic]

It's alright, Senator. Senator MasterJedi's point of procedure was well taken, and it's ok... We've all been overly-eager at certain times.

In any case, I'm a little concerned about the percentage distribution, and would like assurances that the tax will not put such a heavy weight on the lower income brackets.

All I'm looking for is a few numbers, and possibly some assurances that the lowest bracket, particularly, will not be heavily burdened.

[MasterJedi]

I've been PPT for 8 months, it's hard to break the mold. And as for the debate I was just letting you know how it has been done since I first entered the Senate.

[Democratic Hawk]

In any case, I'm a little concerned about the percentage distribution, and would like assurances that the tax will not put such a heavy weight on the lower income brackets.

All I'm looking for is a few numbers, and possibly some assurances that the lowest bracket, particularly, will not be heavily burdened.

Currently all income up to $94,200 is subject to a social security tax rate of 6.2% - total tax payable: $5840.40

My proposed changes would affect those earning at the existing threshold or less as follows:

1) The first $75,000 of income subject to a tax rate of 6.0% - total tax payable: $4500
2) The remaining $19,200 of income would be subject to a tax rate of 6.5% - total tax payable: $1,248

So, basically, for those earning $94,200, the maximum contribution would be $5,748 - a cut of $92.40. Of course for those earning less, the cut will be greater

For example, a person earning $55,500 would currently pay $3,441, but under my proposals they would pay $3330 - a cut of $111

Furthermore, I estimate that only those earning over $95,600, under my proposals, would actually pay more in social security tax than what they do now. Of course, those who earn in excess of $95,600 will pay more but nowhere near what they would pay if the threshold were raised to a staggering $500,000

‘Hawk’

[Dr. Cynic]

Thank you for the info, Senator Hawk. That's all I wanted to know.

[Democratic Hawk]

I hereby open the vote on this amendment. Please vote Aye, Nay or Abstain

1. All income up to $150,000 shall be subject to social security taxes as follows:

i. For earnings between $0 to $75,000, the rate of contributions shall be 6%
ii. For earnings between $75,001 to $100,000, the rate of contributions shall be 6.5%
iii. For earnings between $100,001 to $125,000, the rate of contributions shall be 7%
iv. For earnings between $125,001 to $150,000, the rate of contributions shall be 7.5%
v. Employer contributiuons on all earnings up to $150,000 shall be 6%

'Hawk'

[Democratic Hawk]

Aye

'Hawk'

[MasterJedi]

Nay

[Dr. Cynic]

Aye

[Virginian87]

Aye.

[Speed of Sound]

Abstain

[Bdub]

Nay

[WMS]

Aye.

[Јas]

Aye

[Democratic Hawk]

With 5 'Ayes', 2 'Nays' and 1 Abstention, this amendment has passed

'Hawk'

[Democratic Hawk]

I hereby open the final vote on this Bill. Please vote Aye, Nay or Abstain

Tax Increase Bill

1. All income up to $150,000 shall be subject to social security taxes as follows:

i. For earnings between $0 to $75,000, the rate of contributions shall be 6%
ii. For earnings between $75,001 to $100,000, the rate of contributions shall be 6.5%
iii. For earnings between $100,001 to $125,000, the rate of contributions shall be 7%
iv. For earnings between $125,001 to $150,000, the rate of contributions shall be 7.5%
v. Employer contributiuons on all earnings up to $150,000 shall be 6%

2. Clause 5 of F.L. 11-6, National Sin Tax Act, is amended to read: "The taxes implemented by this act are an addition to, not an overriding of, any existing federal and regional taxes that are placed on the aforementioned products."

3. An estate tax is established. Each portion of the value of the estate shall be taxed at the following rates, with each rate corresponding to the tax rate on only the portion of the estate that falls in the appointed range:

a) $0-$5,000,000 – 0%
b) $5,000,001-$10,000,000 – 3%
c) $10,000,001-$17,500,000 – 4%
d) $17,500,001-$25,000,000 – 5%
e) $25,000,001-$50,000,000 – 7.5%
f) $50,000,001-$100,000,000 – 10%
g) $100,000,001 and above – 12.5%
h) Farmers' non-residential property shall be taxed at 50% the normal tax rate

'Hawk'

[Democratic Hawk]

Aye

'Hawk'

[MasterJedi]

Nay

[Bdub]

Nay

[WMS]

Aye.

[Јas]

Aye

[Speed of Sound]

Aye

[Virginian87]

Aye.