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Bill: Financial Overhaul, 3250
Details
Submitted by[?]: Selucian Masters Party
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: January 3252
Description[?]:
| Reasons: 1) Lowering the corporation tax The profits corporations make do not simply go to salaries. Most of it goes to investment. By lowering the taxes, we are encouraging investment, which will create more jobs and make our nation richer in the long run. It seems like a massive cut, but a thirty percent corporation tax only fetches about 8.7 billion SEN - almost the equivalent of the current budget for food and agriculture. That 8.7 billion would be better spent for investment in our nation's economy. 2) Lowering the sales tax on essential goods Because the benefits of the people have been cut, the money they pay for it should be reduced also. With their untaxed money, they can buy their own benefits. It seems like a meager consolation, but our government is in a financial tight-spot at the moment. 3) Lowering the luxury tax When the rich have more money to spend, they will either use the remains for investment or to buy more goods. Buying more goods helps maintain jobs and products, which is good for the economy in the long run. 4) Massive reduction in the budget Because of the deficit, it is justified to reduce the budget for all the departments with the exception of finance, whose budget will be used to slowly pay off our debts. When, because of population growth and investment, we gain a surplus, the budget of vital services will be increased incrementally. 5) Putting tax and budget proposals in the same bill The populace shouldn't pay the same amount of money for services they would no longer receive. That is why the tax cuts and the budget cuts should be implemented at the same time. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 30
Current: 35
Proposed: 8
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 13
Current: 0
Proposed: 5
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 44
Current: 30
Proposed: 37
Article 4
| Ministry | Current Budget | Old Budget | Propesed Budget |
| Head of Government | 7,000,000,000 SEN | 900,000,000 SEN | 600,000,000 SEN |
| Foreign Affairs | 4,500,000,000 SEN | 6,800,000,000 SEN | 5,000,000,000 SEN |
| Internal Affairs | 7,000,000,000 SEN | 19,000,000,000 SEN | 15,000,000,000 SEN |
| Finance | 20,000,000,000 SEN | 14,500,000,000 SEN | 15,000,000,000 SEN |
| Defence | 35,500,000,000 SEN | 48,600,000,000 SEN | 47,500,000,000 SEN |
| Justice | 5,000,000,000 SEN | 11,300,000,000 SEN | 10,000,000,000 SEN |
| Infrastructure and Transport | 7,000,000,000 SEN | 12,600,000,000 SEN | 11,000,000,000 SEN |
| Health and Social Services | 15,000,000,000 SEN | 40,000,000,000 SEN | 37,000,000,000 SEN |
| Education and Culture | 10,000,000,000 SEN | 55,000,000,000 SEN | 45,400,000,000 SEN |
| Science and Technology | 25,000,000,000 SEN | 34,000,000,000 SEN | 10,000,000,000 SEN |
| Food and Agriculture | 5,000,000,000 SEN | 8,050,000,000 SEN | 500,000,000 SEN |
| Environment and Tourism | 200,000,000 SEN | 2,900,000,000 SEN | 2,000,000,000 SEN |
| Trade and Industry | 10,000,000,000 SEN | 4,500,000,000 SEN | 1,000,000,000 SEN |
| Total | 151,200,000,000 SEN | 258,150,000,000 SEN | 200,000,000,000 SEN |
Debate
These messages have been posted to debate on this bill:
| Date | 21:18:11, January 29, 2012 CET | From | Selucian Masters Party | To | Debating the Financial Overhaul, 3250 |
| Message | If we have to tax so much to keep our current expenses, then clearly our current expenses are unjustified. |
| Date | 03:55:52, January 30, 2012 CET | From | Selucian Masters Party | To | Debating the Financial Overhaul, 3250 |
| Message | Can all the parties give an immediate feedback? I want this deficit solved as quickly as possible. Princeps Senatus Edmund Thaler |
| Date | 19:37:20, January 30, 2012 CET | From | LP | To | Debating the Financial Overhaul, 3250 |
| Message | We would be ready to support the plan in principle. However, a reduction in income tax would preferable to a cut in indirect taxes. |
| Date | 20:57:19, January 30, 2012 CET | From | Selucian Masters Party | To | Debating the Financial Overhaul, 3250 |
| Message | The government is planning just the thing in a more prosperous time. |
| Date | 22:17:15, January 30, 2012 CET | From | LP | To | Debating the Financial Overhaul, 3250 |
| Message | We don't trust the government. |
| Date | 01:23:39, January 31, 2012 CET | From | Selucian Masters Party | To | Debating the Financial Overhaul, 3250 |
| Message | This is a viable, rational way to solve the budget deficit, and the KLP is perfectly willing to throw this nation under the bus because other people besides themselves are in control of government. |
| Date | 10:35:20, January 31, 2012 CET | From | LP | To | Debating the Financial Overhaul, 3250 |
| Message | This is not a plan this is a suicide note. |
| Date | 18:34:13, January 31, 2012 CET | From | Selucian Liberal Party | To | Debating the Financial Overhaul, 3250 |
| Message | As a party we support lower taxes and a smaller budget, but not massive cuts in one go. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 228 | ||||
| no |
Total Seats: 522 | ||||
| abstain |
Total Seats: 0 |
| Random fact: If your "Bills under debate" section is cluttered up with old bills created by inactive parties, report them for deletion on the Bill Clearouts Requests thread: http://forum.particracy.net/viewtopic.php?f=11&t=4363 |
| Random quote: "The theory of Communism may be summed up in the single sentence: abolition of private property." - Karl Marx |