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Bill: Corporation Tax Reform
Details
Submitted by[?]: Revolucia Partio de Koburo
Status[?]: passed
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: December 3308
Description[?]:
| "In order to encourage further economic growth and a further increase in national wealth, the finance ministry proposes to cut corporation tax by ten percent. Additionally, as all corporations within Cobura are worker-owned and operated, it would surely strengthen the socialist project and the democratic workers councils that underpin it, if we were to reduce their tax liabilities." - Enrique Gutiérrez, Finance Minister |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 30
Current: 25
Proposed: 20
Debate
These messages have been posted to debate on this bill:
| Date | 17:00:13, May 23, 2012 CET | From |   Nacia Repuvlican partio de Kobura | To | Debating the Corporation Tax Reform |
| Message | We support all tax cuts but ask how we can continue with our massive amount of debt. |
| Date | 17:02:20, May 23, 2012 CET | From | Revolucia Partio de Koburo | To | Debating the Corporation Tax Reform |
| Message | "Cobura has no debt." - Enrique Gutiérrez, Finance Minister |
| Date | 17:05:07, May 23, 2012 CET | From | Nacia Repuvlican partio de Kobura | To | Debating the Corporation Tax Reform |
| Message | Revenue 77,398,999,093 COb Expenses 335,100,000,000 COB Surplus -257,701,000,907 COB This is a annual Deficit and should be taken into consideration -257,701,000,907 COB every year x by how may years already. Just because the buget is considered not working simple math will show we are in a bottomless pitt. |
| Date | 17:10:50, May 23, 2012 CET | From | Nacia Repuvlican partio de Kobura | To | Debating the Corporation Tax Reform |
| Message | Cobura has no debt."?? ok |
| Date | 17:14:09, May 23, 2012 CET | From | Revolucia Partio de Koburo | To | Debating the Corporation Tax Reform |
| Message | "A deficit is a budget outcome. It is not debt. A deficit has to be converted into debt. As Cobura is a monetary sovereign - the monopoly supplier of a non-convertible fiat currency - we are under no obligation to issue debt. Debt issuance is an anachronistic mechanism dating from the gold standard era which does not apply to a modern financial system. Debt issuance is therefore entirely voluntary. Furthermore the Coburan government, being a monetary sovereign is not financially constrained. We create money through government spending. We must spend before we can tax and furthermore if the government is running a deficit then the private sector will be in surplus. If we attempt to balance the budget we will simply put the private sector into deficit, which will cause an enormous expansion of private debt, which will have severe consequences. Balancing the budget is a fools errand. We must spend what is required to sustain aggregate demand." - Enrique Gutiérrez, Finance Minister |
| Date | 17:14:42, May 23, 2012 CET | From | Revolucia Partio de Koburo | To | Debating the Corporation Tax Reform |
| Message | OOC: Btw, this is the last time I will ask you to distinguish IC/OOC posts. |
| Date | 01:23:51, May 24, 2012 CET | From | Nacia Repuvlican partio de Kobura | To | Debating the Corporation Tax Reform |
| Message | When a government takes loans to pay for thier overblown budgets that is called debt. Consider everything I say IC :-) |
| Date | 11:50:53, May 24, 2012 CET | From | Revolucia Partio de Koburo | To | Debating the Corporation Tax Reform |
| Message | "The government is not taking out loans, nor does it need to. As the monopoly issuer of a currency it would make no sense to do so." |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 500 | ||
| no | Total Seats: 0 | ||
| abstain |
Total Seats: 0 |
| Random fact: Particracy does not allow real-life fictional references (eg. Gandalf, Harry Potter, Luke Skywalker). |
| Random quote: "Everything that is really great and inspiring is created by the individual who can labor in freedom." - Albert Einstein |