FT 22.02 - FY2022 budget (debating)

[AustralianSwingVoter]

Nay

[Unconditional Surrender Truman]

COMMONWEALTH BUDGET
for the fiscal year of 2022

I. REVENUES
☞ Income Tax: $141,458,440,106
$0K – $125K (0%): $0
$125 – $200K (5%): $4,544,572,163
$200K – $1M (15%): $51,494,832,936
$1M – $10M (30%): $45,459,789,567
$10M – $100M (45%): $30,242,234,007
$100M+ (60%): $9,717,011,433

☞ Corporate Taxes: $222,721,286,871
$0 – 100K (0%): $0
$100K – 1M (20%): $1,052,287,645
$1M – 10M (40%): $7,087,226,512
$10M+ (60%): $214,581,772,714

☞ Excise Taxes: $34,984,493,310
Alcohol (15%): $13,087,791,871
Gas & Diesel ($0.30/gallon): $14,653,207,484
Tobacco (40%): $7,243,493,957

☞ Misc. Taxes and Penalties: $249,838,957,800
Fremont Carbon Taxation Act: $31,011,738,620
Green Vehicle Promotion Act § 2(ii): $3,602,574,479
Royalties Act:
Coal: $2,877,687,513
Gas: $1,500,722,750
Oil: $11,355,570,000
Gaming Tax: $5,100,495,700
Estate Tax (50%): $5,852,884,365
Drug Tax: $3,446,083,796
Lodging Facility Sales and Use Tax: $5,091,240,579.71
Property Tax: $180,000,000,000

☞ FY2021 Surplus: $35,235,307,600

II. EXPENDITURES
☞ Tax Credits: $1,660,474,443
Green Vehicle Promotion Act §2(i): $1,236,935,443
Teacher's Tax Credit: $423,539,000

☞ Mandatory Spending: $239,857,999,000 (List A)

☞ Discretionary Spending: $395,932,000,000
Education: $195,282,000,000
Health and Human Services: $130,676,000,000
Justice: $16,921,000,000
Home Office: $53,053,000,000

TOTAL REVENUES: $684,238,485,700
TOTAL EXPENDITURES: $637,450,073,400
TOTAL SURPLUS: $46,788,412,300

[The world will shine with light in our nightmare]

Yeah so this needs to be fixed.

The top bracket pays 100% of their income to the regional and federal governments.

We might as well rename Frémont to Rainbowland.

Thank God we don't have a CG or else we'd be in a very deep recession. Either that or tax evasion would be a regional sport.

[Mr. Reactionary]

Meme region

[YE]

The top bracket applies to like 500 people and we literally had that top bracket since I was FM. They don’t even pay 100% of their income because it’s not how taxes work.

The surplus stems from the fact that years ago nothing was spent in the region and only taxes were collected I believe.