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Bill: URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463
Details
Submitted by[?]: Capitalist Working Families
Status[?]: defeated
Votes: This bill proposes to change the allocation of funds in the budget. It requires more than half of the legislature to vote yes. This bill will not pass any sooner than the deadline.
Voting deadline: August 2463
Description[?]:
| ************************************************************************************************************************ BREAKDOWN of BUDGET (cf. http://80.237.164.51/particracy/main/budget.php?nationid=6 ): Revenue: 18,847,663,782 RUT Expenses: 59,437,734,606 RUT DEFICIT: -40,590,070,824 RUT ************************************************************************************************************************ To the National Assembly of the Commonwealth of Rutania: Since it has been nearly F-I-V-E (5) years that this Legislature has actually voted on a Balanced Budget, I would like to take this time to inform you on the Nation's DIRE economic needs: (1) First and foremost, the draconian and irresponsible reduction of the Luxury Tax on items that the WEALTHY purchase (e.g. Rolexes, Cruise vacations to the Bahamas, Jewelry, etc.) from 50% to the miniscule 15% by this Legislature in the last session without the proportional reduction on overall Federal Government spending has resulted in a budget DEFICIT for the FIRST time in the history of this Commonwealth of an ABOMINABLE 40 Billion RUT!!! (2) (a) Second, after reviewing the dire economic situation with the distinguished Economist, Dr. Fiona C. Maclachlan, of Manhattan College & President of the Pigou Club (founded by the Harvard Economist, Dr. N. Gregory Mankiw), we are credible in asserting the problem in the slowing of economic growth. That is as Dr. Machlachlan explains: "FISCAL CROWDING OUT!!!" as seen by evident of the Rutania's recent GDP statistics: ************************************************************************************************************************ GROSS DOMESTIC PRODUCT (GDP) [cf. http://80.237.164.51/particracy/main/budget.php?nationid=6 ] Consumption: 297,896,009,867 RUT (71.60%) ***GOVERNMENT: 59,437,734,606 RUT (14.29%)*** ***INVESTMENT: 58,702,612,497 RUT (14.11%)*** Net Exports: 0 RUT (0.00%) GDP: 416,036,356,970 RUT (100.00%) ************************************************************************************************************************ (b) You see, although OVERALL GDP growth has risen exponentially due to the abolishment of Income taxes for families below the 17,000 RUT threshold and reduction of taxes above, the INVESTMENT component of the Gross Domestic Product (GDP) is still at a BARE MININIUM. "This is," as Economist Dr. Machlachlan explains, "because Government Spending was just TOO HIGH contributing to 14.29% of GDP thus exceeding the 14.11% contribution of INVESTMENT spending by businesses which is where manufacturing jobs and business expansion occur thereby resulting in a 40 BILLION ruta deficit." Why??? Well, this condition is known as "Fiscal Crowding Out" where if there is too much of GDP growth coming from increases in Government spending, this will lead to INFLATION. When the ugly monster of INFLATION grips the countryside, the economy becomes very VOLATILE (like a "roller coster") and businesses scale back on investment and manufacturing. (3) (a) Third, since this is the FIRST time in Rutanian history that we have had a budget crisis of this magnitude, the ballooning of the National Debt is having a CONTRACTIONARY (shrinking) effect on the Commonwealth's overall money suppy that is circulating in the economy. In other words, the PRICE of money (as when you borrow it) as reflected in the interest rates that banks charge on Car notes, mortgages, small business loans, etc. is SKYROCKETING at an alarming rate. (b) When the price of any commodity (in this case "money" when you borrow it) goes up, the demand for it goes DOWN thus leading to an economic downturn as was seen in the Great Depression of 1929 in the United States on Planet Earth that is on the southside of the Milky-Way Galaxy. In the same way, the Rutanian people and businesses are taking out less loans which is steadily increasing depressed business activity and UNEMPLOYMENT!!! (4) Therefore, we suggest that we IMMEDIATELY increase the National Luxury Tax by a mere 10 percentage points from the old level of "15%" to "25%" in order for the Legislature to proportionally cut overall Federal spending in HALF by the end of this year. Fortunately, this would eliminate the deficit, curb inflation, lower interest rates, and thereby put a halt to the "Fiscal Crowding Out" economic situation thus creating jobs for millions of Rutanians currently out of work. Thank you for your full support. Cordially, Christian E. Savage, Minority Leader of the Capitalist Working Families Party Co-Signed, Dr. Fiona C. Machlachlan, Chief Economist of the Pigou Club & Manhattan College |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 15
Current: 33
Proposed: 25
Article 2
| Ministry | Current Budget | Old Budget | Propesed Budget |
| Head of Government | 22,000,000 RUT | 18,867,303 RUT | 9,433,651 RUT |
| Foreign Affairs | 285,000,000 RUT | 18,867,303 RUT | 9,433,651 RUT |
| Internal Affairs | 2,463,000,000 RUT | 0 RUT | 0 RUT |
| Finance | 150,000,000 RUT | 3,600,000,000 RUT | 1,800,000,000 RUT |
| Defence | 5,624,000,000 RUT | 30,000,000,000 RUT | 15,000,000,000 RUT |
| Justice | 285,000,000 RUT | 2,850,000,000 RUT | 1,425,000,000 RUT |
| Infrastructure and Transport | 15,313,000,000 RUT | 3,600,000,000 RUT | 1,800,000,000 RUT |
| Health and Social Services | 28,750,000,000 RUT | 2,850,000,000 RUT | 1,425,000,000 RUT |
| Education and Culture | 16,850,000,000 RUT | 3,600,000,000 RUT | 1,800,000,000 RUT |
| Science and Technology | 6,763,000,000 RUT | 3,600,000,000 RUT | 1,800,000,000 RUT |
| Food and Agriculture | 5,931,000,000 RUT | 2,850,000,000 RUT | 1,425,000,000 RUT |
| Environment and Tourism | 1,255,000,000 RUT | 2,850,000,000 RUT | 1,425,000,000 RUT |
| Trade and Industry | 2,663,000,000 RUT | 3,600,000,000 RUT | 1,800,000,000 RUT |
| Total | 86,354,000,000 RUT | 59,437,734,606 RUT | 29,718,867,302 RUT |
Debate
These messages have been posted to debate on this bill:
| Date | 15:50:09, September 29, 2007 CET | From | Capitalist Working Families | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | P.S.: Btw, Well since we were discussing the economics of Rutania, I just came across an educational-but-short video series that explains 3 major questions that people have always "wondered" and probably already knew the answers to in their sub-conscious mind that you might be interested in during our Legislative Recess(haha): (a) What is the "Money" that we spend in the economy (the "Mall"), give the Gov't in taxes, etc.??? (b) Where does "money" really come from and who created it??? (c) Contrary to popular opinion, counterfeiting is indeed completely legal.....that is, of course if you are a Rich Banker on Wall Street or even at your neighborhood bank!!! Also, the short easily understood documentary explains the real reason why healthcare costs and gasoline prices are continually ***skyrocketing***!!! The videos are sub-divided into 5 10-min. sections as listed below and can be very interesting for your spare time: (1) Corrupt Banking System---Cartels (Legal Mafia) Robbing the People (1/5); (2) Corrupt Banking System---How Money is Created (2/5); (3) Corrupt Banking System---Money is Debt (3/5); (4) Corrupt Banking System---Monetary Reform (4/5); (5) Corrupt Banking System---Warning About the NWO [a.k.a. "Global Fascist/Nazi Government] (5/5); If you're interested, you can watch the entire 45 min. documentary on the following link: http://video.google.com/videoplay?docid=-9050474362583451279 . Thanks again. |
| Date | 15:50:11, September 29, 2007 CET | From | Capitalist Working Families | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | P.S.: Btw, Well since we were discussing the economics of Rutania, I just came across an educational-but-short video series that explains 3 major questions that people have always "wondered" and probably already knew the answers to in their sub-conscious mind that you might be interested in during our Legislative Recess(haha): (a) What is the "Money" that we spend in the economy (the "Mall"), give the Gov't in taxes, etc.??? (b) Where does "money" really come from and who created it??? (c) Contrary to popular opinion, counterfeiting is indeed completely legal.....that is, of course if you are a Rich Banker on Wall Street or even at your neighborhood bank!!! Also, the short easily understood documentary explains the real reason why healthcare costs and gasoline prices are continually ***skyrocketing***!!! The videos are sub-divided into 5 10-min. sections as listed below and can be very interesting for your spare time: (1) Corrupt Banking System---Cartels (Legal Mafia) Robbing the People (1/5); (2) Corrupt Banking System---How Money is Created (2/5); (3) Corrupt Banking System---Money is Debt (3/5); (4) Corrupt Banking System---Monetary Reform (4/5); (5) Corrupt Banking System---Warning About the NWO [a.k.a. "Global Fascist/Nazi Government] (5/5); If you're interested, you can watch the entire 45 min. documentary on the following link: http://video.google.com/videoplay?docid=-9050474362583451279 . Thanks again. |
| Date | 15:50:51, September 29, 2007 CET | From | Capitalist Working Families | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | sorry about the double post. |
| Date | 01:36:48, September 30, 2007 CET | From | Capitalist Working Families | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | Vox, are you FLIP-FLOPPING on this issue(LOL)??? I say that b/c you actually voted for this budget TWICE already when it wasn't necessary [we had budget surplus]; Now, you vote against when the nation faces a 40 Billion dollar deficit. Nevertheless, what are your objections and/or concerns? |
| Date | 03:37:42, September 30, 2007 CET | From | Rutanian Conservative Party | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | I say Raise income taxes |
| Date | 18:18:08, September 30, 2007 CET | From | Capitalist Working Families | To | Debating the URGENT!!! Fix the Budget CRISIS, INFLATION, & UNEMPLOYMENT Act of 2463 |
| Message | If we raise income taxes on the people, that will HINDER economic growth and bring us into a THIRD WORLD COUNTRY!!! |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 108 | |||
| no | Total Seats: 554 | |||
| abstain | Total Seats: 88 |
| Random fact: When elections in a country are held, all bills in the voting phase are reset to the debate phase. |
| Random quote: "And what is Aleppo?" - Gary Johnson |