SB 105-16: Capital Gains Inflation Deduction Act (Passed)
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Author Topic: SB 105-16: Capital Gains Inflation Deduction Act (Passed)  (Read 2345 times)
WD
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Junior Chimp
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« Reply #25 on: November 26, 2021, 02:37:51 AM »
Nay
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S019
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« Reply #26 on: November 26, 2021, 02:58:12 AM »
AYE
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Crane
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Junior Chimp
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« Reply #27 on: November 26, 2021, 03:02:25 AM »
Nay
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GM Team Member and Senator WB
weatherboy1102
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« Reply #28 on: November 26, 2021, 04:19:12 AM »
Aye
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Computer89
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« Reply #29 on: November 26, 2021, 02:09:55 PM »
Aye
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Continential
The Op
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« Reply #30 on: November 26, 2021, 03:09:32 PM »
Aye
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OBD
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« Reply #31 on: November 26, 2021, 11:02:07 PM »
Aye
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Southern Senator North Carolina Yankee
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« Reply #32 on: November 27, 2021, 07:57:02 PM »
Aye
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Saint Milei
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« Reply #33 on: November 27, 2021, 08:24:58 PM »
aye
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Continential
The Op
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« Reply #34 on: November 30, 2021, 10:59:36 PM »
This bill passes the Senate.

Aye (6): Joseph Cao, S019, WB, OSR, North Carolina Yankee, Deadprez
Nay (2): Western Democrat, CraneHusband,
Abstain/Present (0):

Didn't Vote (9): Tack50, Lechasseur, OBD, discovolante, Pericles, MB, Muaddib, Spark, Kuumo
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The world will shine with light in our nightmare
Just Passion Through
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« Reply #35 on: December 01, 2021, 10:53:51 PM »
« Edited: December 01, 2021, 10:59:35 PM by President Scott☀️ »
Please sign this, Ishan.

Also 9 non-votes? WTF guys.
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Continential
The Op
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« Reply #36 on: December 01, 2021, 11:00:15 PM »
Quote from: President Scott☀️ on December 01, 2021, 10:53:51 PM
Please sign this, Ishan.

Also 9 non-votes? WTF guys.
I did?
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The world will shine with light in our nightmare
Just Passion Through
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« Reply #37 on: December 01, 2021, 11:05:23 PM »

i'm a dumb-dumb
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Joseph Cao
Rep. Joseph Cao
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Junior Chimp
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« Reply #38 on: December 01, 2021, 11:09:46 PM »

Probably should post it in here too to properly close off the thread.
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Continential
The Op
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« Reply #39 on: December 01, 2021, 11:11:47 PM »
Quote
Quote
AN ACT
To reform the taxation system

Quote
Be it enacted by the Senate of the Republic of Atlasia assembled

Section I. Title

This act may be cited as the Capital Gains Inflation Deduction Act.

Section II. Definition

CPI is the Consumer Price Index as published by the Bureau of Labor Statistics for any particular moment in time.

Section III. Capital Gains Inflation Deduction

A. As explained in Section II B, the portion of any capital gain that can be attributed to inflation is exempt from taxation.

B. For each capital gain derived from the sale of an asset, the product of the percentage change in CPI from the purchase of said asset to its sale and the purchase price is added to an individual's capital gains inflation deduction.

C. The total amount of an individual's capital gains inflation deduction is deductible from said individual's total capital gains tax liability for any given year. This deduction shall not be deductible from any other form of taxable income.

Section IV. Effective Date

This act shall be incorporated into to the tax code immediately.

Section V. Cost

This act is estimated to lower tax revenue by $15 billion annually.
Passed 6-2-0-9 in the Atlasian Senate assembled,

Ishan, President pro tempore
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AGA
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« Reply #40 on: December 01, 2021, 11:39:07 PM »
It seems that the PPT send the wrong bill to the President. The sent bill is missing the amendment to Section IV. If it is possible to redo this, the PPT may have the authority to change "Section II B" to "Section III B" as a spelling correction.
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Just Passion Through
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« Reply #41 on: December 04, 2021, 07:49:23 PM »
For the record, I edited the bill that I signed to include the amendment.
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Southern Senator North Carolina Yankee
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« Reply #42 on: December 04, 2021, 08:17:11 PM »
I am glad this concern has been addressed.
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