SB 108-08: Funding a Greater Society Act (Passed)
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Author Topic: SB 108-08: Funding a Greater Society Act (Passed)  (Read 1925 times)
Continential
The Op
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« Reply #25 on: March 27, 2022, 11:42:00 AM »
« edited: March 30, 2022, 08:01:12 PM by ‎Ishan »
As promised with some changes:

Quote
AN ACT
To provide for tax increases on high incomes

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

Section 1. Title

1. This act may be cited as the Funding a Greater Society Act.

Section 2. Tax Changes

Changes to income tax brackets:

Quote
by tax bracket:
 0-13K      100% $0 ($0)
 13K-50k    15%: $99,079,925,000 ($99.07 billion)             
 50K-130K  205%: $650,319,950,000 ($650.32 billion) 
 130K-210K  29%  31%: $452,282,000,000.00 ($452.29 Billon)     
 210K-413K  34%  38%: $317,099,000,000.00 ($317.10 Billon)
 413K+  45%: $244,141,000,000.00 ($244.14 Billon)

Total Revenue: $1,762,921,875,000 ($1,762.92 Billion)

The Wealth Tax Act is amended as follows:
Quote
1. Households of a net worth greater than $50 million shall have a 2% 4% annual tax imposed on their net worth.
2. A 2% 4% annual surcharge shall be imposed on net worth greater than $1 billion.
3. A 1% 2% annual surcharge shall be imposed on net worth greater than $5 billion.
4. A 1% 2% annual surcharge shall be imposed on net worth greater than $10 billion.

Revenue: $576.00 Billion
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WD
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« Reply #26 on: March 27, 2022, 11:59:46 AM »
Quote from: Cardinal 🐦 on March 27, 2022, 06:57:33 AM
For the record, here is an amendment where I transfer the revenue levels for the unaltered brackets from the budget and add the total revenue in the income tax section, for clarity.

Quote
AN ACT
To provide for tax increases on high incomes

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

Section 1. Title

1. This act may be cited as the Funding a Greater Society Act.

Section 2. Tax Changes

Changes to income tax brackets:

Quote
by tax bracket:
 0-13K      10%    $ 12,700,800,000.00 ($ 12.70 billion)
 13K-50k    15%    $ 297,239,775,000.00 ($ 297.24 billion)
 50K-130K   25%     $ 812,899,937,500.00 ($ 812.90 billion)
 130K-210K  29%  31%: $452,282,000,000.00 ($452.29 Billon)    
 210K-413K  34%  38%: $317,099,000,000.00 ($317.10 Billon)
 413K+  45%: $244,141,000,000.00 ($244.14 Billon)

Total Revenue: $2,136,362,512,500.00 ($2,136.36 Billion)

The Wealth Tax Act is amended as follows:
Quote
1. Households of a net worth greater than $50 million shall have a 2% 4% annual tax imposed on their net worth.
2. A 2% 4% annual surcharge shall be imposed on net worth greater than $1 billion.
3. A 1% 2% annual surcharge shall be imposed on net worth greater than $5 billion.
4. A 1% 2% annual surcharge shall be imposed on net worth greater than $10 billion.

Revenue: $576.00 Billion



Sponsoring this amendment.
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WD
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« Reply #27 on: March 27, 2022, 12:00:21 PM »
« Edited: March 27, 2022, 12:24:49 PM by Senator WD, PPT »
We will be considering the amendment drafted by the Former Vice President, and then we will be turning to Ishan’s amendment.
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WD
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« Reply #28 on: March 27, 2022, 12:01:04 PM »
24 hours to object to the Battista amendment.
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Deep Dixieland Senator, Muad'dib (OSR MSR)
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« Reply #29 on: March 28, 2022, 06:29:15 AM »
Objection to the amendment
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WD
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« Reply #30 on: March 28, 2022, 08:03:10 PM »
Objection being raised, a vote is now open on the Battista amendment. Please vote Aye, Nay, or Abstain
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Pedocon Theory is not a theory
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« Reply #31 on: March 28, 2022, 08:24:38 PM »
Aye
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Mr. Reactionary
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« Reply #32 on: March 28, 2022, 09:20:26 PM »
Nay
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GM Team Member and Deputy PPT WB
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« Reply #33 on: March 28, 2022, 09:59:07 PM »
Aye, though as I stated I won't support the bill if there is over 100% taxes after the regional taxes are factored in
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WD
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« Reply #34 on: March 28, 2022, 10:00:39 PM »
Aye
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S019
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« Reply #35 on: March 28, 2022, 10:07:07 PM »
AYE
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West_Midlander
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« Reply #36 on: March 29, 2022, 04:56:03 AM »
Nay
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beesley
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« Reply #37 on: March 29, 2022, 05:13:35 AM »
Aye
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Saint Milei
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« Reply #38 on: March 29, 2022, 07:34:54 AM »
nay
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WD
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« Reply #39 on: April 05, 2022, 09:17:53 PM »
Closing in 24 hours
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If my soul was made of stone
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« Reply #40 on: April 05, 2022, 09:18:51 PM »
AYE
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Deep Dixieland Senator, Muad'dib (OSR MSR)
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« Reply #41 on: April 05, 2022, 10:17:39 PM »
Nay
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« Reply #42 on: April 05, 2022, 10:39:12 PM »
Aye
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WD
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« Reply #43 on: April 06, 2022, 11:24:38 AM »
By a vote of 7-4-0-7, the amendment is adopted.
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WD
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« Reply #44 on: April 06, 2022, 11:25:18 AM »
Quote
AN ACT
To provide for tax increases on high incomes

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

Section 1. Title

1. This act may be cited as the Funding a Greater Society Act.

Section 2. Tax Changes

Changes to income tax brackets:

Quote
by tax bracket:
 0-13K      100% $0 ($0)
 13K-50k    15%: $99,079,925,000 ($99.07 billion)             
 50K-130K  205%: $650,319,950,000 ($650.32 billion) 
 130K-210K  29%  31%: $452,282,000,000.00 ($452.29 Billon)     
 210K-413K  34%  38%: $317,099,000,000.00 ($317.10 Billon)
 413K+  45%: $244,141,000,000.00 ($244.14 Billon)

Total Revenue: $1,762,921,875,000 ($1,762.92 Billion)

The Wealth Tax Act is amended as follows:
Quote
1. Households of a net worth greater than $50 million shall have a 2% 4% annual tax imposed on their net worth.
2. A 2% 4% annual surcharge shall be imposed on net worth greater than $1 billion.
3. A 1% 2% annual surcharge shall be imposed on net worth greater than $5 billion.
4. A 1% 2% annual surcharge shall be imposed on net worth greater than $10 billion.

Revenue: $576.00 Billion


A vote is now open on Ishan’s amendment. Please vote Aye, Nay, or Abstain.
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Mr. Reactionary
blackraisin
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« Reply #45 on: April 06, 2022, 12:13:41 PM »
Nay
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West_Midlander
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« Reply #46 on: April 06, 2022, 01:03:19 PM »
Nay
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Deep Dixieland Senator, Muad'dib (OSR MSR)
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« Reply #47 on: April 06, 2022, 08:19:34 PM »
Nay
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beesley
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« Reply #48 on: April 07, 2022, 02:19:02 AM »
Nay
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Joseph Cao
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« Reply #49 on: April 07, 2022, 10:03:32 AM »
Nay.
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