LGC 4.11 - Tax Reduction and Cleanup Act - STATUTE

[Attorney General, LGC Speaker, and Former PPT Dwarven Dragon]

Tax Reduction and Cleanup Act

1. New Corporate Tax Rates
--- Recognizing that our corporate taxes need to be simplified and flattened to ensure Lincoln's competitiveness in the global economy, Corporate Tax Rates shall now be as follows:

Corporate Tax
0%  $0 - $99,999
7%   $100,000 - $4,999,999
15% $5,000,000 - $49,999,999
23%  $50,000,000 - $249,999,999
27%  $250,000,000 - $1,500,000,000
31%  $1,500,000,000 - 5,499,999,999
36%  $5,500,000,000+

2. New Income tax rates are as follows:

0.0%    $0 - $89,999
8% $90,000 - $249,999
20%  $250,000 -$489,999
30%   $490,000 - $999,999
45%   $1,000,000 +

3. The Vehicle Mile Tax is hereby repealed.


4. Estate Tax Reinstatement:

The estate tax is hereby reestablished at the following rates:

0%  $0 - $19,999,999
10%  $20,000,000 - $39,999,999
15%  $40,000,000 - $99,999,999
20%  $100,000,000+



5. Effective Date
-- This shall take effect immediately.
-- Taxpayers shall still be liable for the pre-existing taxes for the time period before this law went into effect, but shall pay according to this law for any activity after this bill goes into effect.

Sponsor: Speaker Dwarven Dragon
Occupying: Slot 5 of 6

[KaiserDave]

Wulfric said he would step back and not introduce new bills after the EMBARRASSING failures of his gun-grabbing bill, hamburger-grabbing bill, and attack on the Irish and the environment, yet here he is again!
This bill is a SHAM, and it is ILLEGAL. It does not show the changes it would make to the existing statute with bold text or strikethroughs. It is a DECEPTION. Shameful shameful shameful!

I once again demand his immediate resignation or expulsion.

[Never Made it to Graceland]

Corporate taxes should not be decreased.

[Utah Neolib]

Tax Reduction and Cleanup Act

1. New Corporate Tax Rates
--- Recognizing that our corporate taxes need to be lessened, simplified, and flattened to ensure Lincoln's competitiveness in the global economy, Corporate Tax Rates shall now be as follows:

Corporate Tax
0%  $0 - $99,999
5%   $100,000 - $4,999,999
12% $5,000,000 - $49,999,999
20%  $50,000,000 - $249,999,999
24%  $250,000,000 - $499,999,999
28%  $500,000,000 - $2,499,999,999
31%  $2,500,000,000+

2. Unenforced Taxes Cleanup
--- Any type of tax that is not collected at all under the 2021-22 budget, despite still having authorizing statute in force, is hereby repealed. In cases where the tax only composed a part of the statute, the remainder of the statute shall remain in force.

3. Repeal of the Tourist Tax
-- Recognizing that this Tax raises very little revenue and stifles regional Tourism, the Tourist Tax (L.C. 4.3) is repealed.

4. Effective Date
-- This shall take effect immediately.
-- Taxpayers shall still be liable for the pre-existing taxes for the time period before this law went into effect, but shall pay according to this law for any activity after this bill goes into effect.

Sponsor: Speaker Dwarven Dragon
Occupying: Slot 5 of 6

[KaiserDave]

The PEOPLE'S amendment is adopted.

[WD]

I move to disband the Court until the next election

[Attorney General, LGC Speaker, and Former PPT Dwarven Dragon]

Section 1: Promises Made, promises kept. I dropped the idea of a corporate tax reduction in the last budget debate so we could get something passed and stop having agencies function by CR, but I promised a later attempt at it. So here we go. This reduces our existing YUGE structure of 12 corporate tax rates to 7 and drops the top rate from 36% to 31%. It will greatly improve Lincoln's ability to compete in the global economy.

Section 2: Simple administrative stuff - clears away old statues for taxes we've agreed to no longer collect per the recent budget.

Section 3: Repeals the Tourist Tax, this just acts as a stick to reduce Lincoln Tourism while collecting little revenue. Best to dispose of it.

Section 4: Clarifies this takes effect immediately, no need to wait for the calendar year or fiscal year to change again to reap its benefits.

Would urge us to pass this soon.

Wulfric said he would step back and not introduce new bills after the EMBARRASSING failures of his gun-grabbing bill, hamburger-grabbing bill, and attack on the Irish and the environment, yet here he is again!
This bill is a SHAM, and it is ILLEGAL. It does not show the changes it would make to the existing statute with bold text or strikethroughs. It is a DECEPTION. Shameful shameful shameful!

Never said I would refrain from doing so forever dude. Also nowhere does it say the legislature must explicitly quote and bold/strikethrough when changing statute with new legislation.

[S019]

Corporate taxes should not be decreased.

Nonsensical spam aside, Crane's comment really hits the spot here. The idea that corporations will leave over a 30% corporate tax is kind of absurd.

[Unconditional Surrender Truman]

The voice of the people commends the BRAVE and PATRIOTIC amendment brought by Mme. Neoliberal.  The Rich Man's Tax Bill must be defeated!

[S019]

Anyways on a serious note I recommend this amendment

If anyone would like to sponsor:

Tax Reduction and Cleanup Act

1. New Corporate Tax Rates
--- Recognizing that our corporate taxes need to be lessened, simplified, and flattened to ensure Lincoln's competitiveness in the global economy, Corporate Tax Rates shall now be as follows:

Corporate Tax
0%  $0 - $99,999
5%   $100,000 - $4,999,999
12% $5,000,000 - $49,999,999
20%  $50,000,000 - $249,999,999
24%  $250,000,000 - $499,999,999
28%  $500,000,000 - $2,499,999,999
31%  $2,500,000,000+

2. 1. Unenforced Taxes Cleanup
--- Any type of tax that is not collected at all under the 2021-22 budget, despite still having authorizing statute in force, is hereby repealed. In cases where the tax only composed a part of the statute, the remainder of the statute shall remain in force.

3. Repeal of the Tourist Tax
-- Recognizing that this Tax raises very little revenue and stifles regional Tourism, the Tourist Tax (L.C. 4.3) is repealed.

4. 2. Effective Date
-- This shall take effect immediately.
-- Taxpayers shall still be liable for the pre-existing taxes for the time period before this law went into effect, but shall pay according to this law for any activity after this bill goes into effect.

[KaiserDave]

If there is a serious case to be made for tax reform (and there absolutely is, including unforced taxes), Wulfric is not making it. Our byzantine tax system requires reform (reform I will welcome and SIGN), but Wulfric insists on cutting the corporate tax for his friends and leaving it at that! Very disappointing!

[KaiserDave]

It's a disgrace that Wulfric is still allowed to propose bills. He comes after our guns, our burgers, or water, the Jews and the Irish, and yet he is allowed to propose legislation unimpeded! Dangerous!

[WD]

It's a disgrace that Wulfric is still allowed to propose bills. He comes after our guns, our burgers, or water, the Jews and the Irish, and yet he is allowed to propose legislation unimpeded! Dangerous!

Wulfric hates everything that makes this country great. He does not believe in freedom. He does not believe in equality. Any bill written by him should be given NO QUARTER.

[Attorney General, LGC Speaker, and Former PPT Dwarven Dragon]

If there is a serious case to be made for tax reform (and there absolutely is), Wulfric is not making it. Our byzantine tax system requires reform (reform I will welcome and SIGN), but Wulfric insists on cutting the corporate tax for his friends and leaving it at that! Very disappointing!

Actually, I don't necessarily insist on that. We did decline to collet a ton of excise taxes and reduced income taxes for everyone making under $490,000 in our last budget, but if there are further changes that have merit, I am more than willing to listen. I figured start this simple and if we want to make it bigger let's do it together.

I personally cannot vote for anything that doesn't include some sort of corporate tax reduction as a component thereof, but that doesn't have to be the only component nor does it have to be the rates I came up with.

--

Oh and I obviously object to the Utah Neolib amendment and a vote will be held on that after some debate time has passed.

[KaiserDave]

I put my FULL TRUST in Deputies Brother Jonathan and Utah Neolib to make sure a REASONABLE bill emerges. They are real Lincolnites and GREAT legislators.

I support tax reform and cleanup, if DONE RIGHT. Not done with Wulfricist perfidy.

[Unconditional Surrender Truman]

Ladies and gentlemen, hobos and tramps,
Cross-eyed mosquitoes and bow-legged ants,
Pull up a chair and sit down on the floor
And I'll tell you a story I've never heard before:

One bright day in the middle of the night,
Two dead boys got up to fight.
Back to back they faced each other,
Drew their swords, and shot each other.

A deaf policeman heard the noise;
He came and killed those two dead boys.
If you don't believe this lie is true,
Just ask the blind man: he saw it, too.

[S019]

If there is a serious case to be made for tax reform (and there absolutely is), Wulfric is not making it. Our byzantine tax system requires reform (reform I will welcome and SIGN), but Wulfric insists on cutting the corporate tax for his friends and leaving it at that! Very disappointing!

Actually, I don't necessarily insist on that. We did decline to collet a ton of excise taxes and reduced income taxes for everyone making under $490,000 in our last budget, but if there are further changes that have merit, I am more than willing to listen. I figured start this simple and if we want to make it bigger let's do it together.

I personally cannot vote for anything that doesn't include some sort of corporate tax reduction as a component thereof, but that doesn't have to be the only component nor does it have to be the rates I came up with.

--

Oh and I obviously object to the Utah Neolib amendment and a vote will be held on that after some debate time has passed.

Well I just noticed that you outright repealed the estate tax. If I have an estate worth $20 million (I don't sadly ), I should absolutely be paying an inheritance tax on that, because if I have $20 million, I'm better off than like 99.9% of people.

[Unconditional Surrender Truman]

I move that Wulfric be immediately removed from the speakership and replaced by a PATRIOTIC officer of the court!

[Unconditional Surrender Truman]

AYE!

[Left Wing]

AYE!

[KaiserDave]

Seriously folks, Wulfric proposes unserious bills and attacks the Irish and Jews and he is still Speaker! We gotta change that! The General Court performed HEROICALLY, to stop those bills, but the work is not yet done.

[AGA]

This bill doesn't go nearly far enough.

[WD]

I move that Wulfric be immediately removed from the speakership and replaced by a PATRIOTIC officer of the court!

The contrast between Lincoln and Fremont could not be clearer. Here, the legislature passes bills to coddle the rich, but in Fremont, under the leadership of First Minister Truman, we have created a workers paradise, millionaires have been abolished, and the workers have been given bread, peace, and the fruits of their labour.

[S019]

This bill doesn't go nearly far enough.

That moment when you manage to make the liberal (me) look like an arch-socialist

[Unconditional Surrender Truman]

I move that Wulfric be immediately removed from the speakership and replaced by a PATRIOTIC officer of the court!

The contrast between Lincoln and Fremont could not be clearer. Here, the legislature passes bills to coddle the rich, but in Fremont, under the leadership of First Minister Truman, we have created a workers paradise, millionaires have been abolished, and the workers have been given bread, peace, and the fruits of their labour.

Lincoln needs a FRÉMONTER speaker! —it is the only way peace and democracy will be restored. As such I hereby endorse the honorable UTAH NEOLIB for Wulfric's replacement.