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Bill: Tax Stimulus Act
Details
Submitted by[?]: Holy Eliyahu Confession
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: March 2619
Description[?]:
| A bill to reduce taxation on both companies and on individuals to help encourage spending. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 15
Current: 23
Proposed: 12
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 17
Current: 25
Proposed: 15
Debate
These messages have been posted to debate on this bill:
| Date | 21:44:03, August 08, 2008 CET | From | Holy Eliyahu Confession | To | Debating the Tax Stimulus Act |
| Message | considering how successive budgets have raised taxes on the top brackets noticeably, we believe article 2 will provide those individuals with a small windfall to encourage them to continue spending on expensive luxury goods despite the reduction in expendable income. as for article one we believe the cut will encourage production and international trade and investment. we understand that this will cut into spending, but we again encourage the government to lower defense spending to accommodate. |
| Date | 07:29:29, August 09, 2008 CET | From | The Liberal Party | To | Debating the Tax Stimulus Act |
| Message | Did you even run the numbers? We'll go into deficit spending if you reduce these taxes. Next time, run the numbers. |
| Date | 10:12:48, August 09, 2008 CET | From | Holy Eliyahu Confession | To | Debating the Tax Stimulus Act |
| Message | well you certainly had no problem proposing a budget which would nearly double income taxes in one year, so i dont see how minor cuts to stimulate the economy are the death knell of our budget. |
| Date | 10:20:38, August 09, 2008 CET | From | Holy Eliyahu Confession | To | Debating the Tax Stimulus Act |
| Message | I mean, with this cut were talking somewhere around a 5 billion dollar cut total for both packages together in income. you just proposed a budget which increased INCOME TAX by 50 billion, almost completely by drastically increasing taxation on top brackets. If basic economics is good for anything, it would indicate that the rapidly decreasing disposable income of the wealthy will cause income from luxury goods to tank, so technically your budget needs a luxury goods cut included in it to keep spending up anyways. As for the corporate taxes, were talking a decrease in income of less than 1 billion dollars which will pay dividends in encouraging investment in the Lodamuni economy. I don't see how you can legitimately say this package DOESENT make sense at this time. |
| Date | 16:53:21, August 09, 2008 CET | From | The Liberal Party | To | Debating the Tax Stimulus Act |
| Message | "it would indicate that the rapidly decreasing disposable income of the wealthy will cause income from luxury goods to tank" Exactly our point. Why cut is? To encourage spending? Please, stay on the real world. "As for the corporate taxes, were talking a decrease in income of less than 1 billion dollars which will pay dividends in encouraging investment in the Lodamuni economy." Again, real world, please. Those cuts will probably go straight into the wallets of big businesses owners. |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 26 | ||||
| no |
Total Seats: 77 | ||||
| abstain |
Total Seats: 16 |
| Random fact: Particracy allows you to establish an unelected head of state like a monarch or a president-for-life, but doing this is a bit of a process. First elect a candidate with the name "." to the Head of State position. Then change your law on the "Structure of the executive branch" to "The head of state is hereditary and symbolic; the head of government chairs the cabinet" and change the "formal title of the head of state" to how you want the new head of state's title and name to appear (eg. King Percy XVI). |
| Random quote: "Every month we do not have an economic recovery package, 500 million Americans lose their jobs." - Nancy Pelosi |