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Bill: The Budget Reconciliation Act of 2519
Details
Submitted by[?]: Liberal Social Democratic Republicans
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: November 2519
Description[?]:
| To eliminate the corporate income tax and replace it with an augmentation in the sales tax on non-essential goods, promoting savings and investment, while maintaining distribution neutrality, and increasing revenue in order to fund more social and military programs. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 10
Current: 25
Proposed: 0
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 3
Current: 25
Proposed: 8
Debate
These messages have been posted to debate on this bill:
| Date | 23:38:59, January 19, 2008 CET | From |  Liberal Social Democratic Republicans | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | I'm not sending this for a vote yet just in case someone wants me to slightly alter the sales tax rate to, say, 7, 9, or 10 percent. |
| Date | 00:09:38, January 20, 2008 CET | From | Alorian Public Union | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | Revenues should come from corporations rather then individuals. Corporations make more money then individuals. We will not support article 1 as is. |
| Date | 07:32:36, January 20, 2008 CET | From | Liberal Social Democratic Republicans | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | Taxing corporations is a disincentive to investment and entrepreneurship. It also may double tax capital gains. Ultimately, the corporate tax is regressive because it is passed on to the consumer. Even though sales taxes are regressive, they do promote savings and investment. |
| Date | 09:21:22, January 20, 2008 CET | From | Freedom, Peace & Love Party | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | With DWCs in place, most corporate profit gets redistributed to the workers anyway (either through improved company facilities, better benefits, or straight to the employees pocket). Aloria isn't 100% capitalist. Taxing sales on luxury goods makes far more sense than taxing corporations. |
| Date | 16:52:03, January 20, 2008 CET | From |  Moderate Libertarian Party (NoCoalition) | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | Article 1 great. Article 2 way too high! Article 2 we could ACTUALLY support an increase of NO MORE THAN 5%. |
| Date | 17:21:36, January 20, 2008 CET | From | Alorian Public Union | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | Not zero though. No real world country has 0, unless I'm badly mistaken. 8 is a perfectly rational sales tax. |
| Date | 19:24:04, January 20, 2008 CET | From | Democratic Rationalists (PrCoa) | To | Debating the The Budget Reconciliation Act of 2519 |
| Message | Corporations pretty much pass along all their taxes to consumers anyway. Corporate taxes therefore become de facto hidden sales taxes. For that reason, we're disinclined to support corporate taxes as such (we prefer the people know when and how they're being taxed), but we haven't found the political will present to support the tax increases needed to offset revenues lost to elimination of the corporate tax. We vote yes for this since it replaces a hidden sales tax with an open sales tax sufficient to offset the revenues lost to the elimination of the corporate tax. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 218 | ||||
| no |
Total Seats: 532 | ||||
| abstain | Total Seats: 0 |
| Random fact: The grey space in the east is populated by the forum-based countries, known in-game as the former colonies or the "Third World". These countries are managed by the Third World Coordinator but players can request control of individual countries in the Third World Control Requests thread: http://forum.particracy.net/viewtopic.php?f=11&t=8302 |
| Random quote: "Freedom is not worth having if it does not connote freedom to err." - Mahatma Gandhi |