Full Text: Tax and Budget Compromise Act

Day 839, 11:29 • Published in USA USA • by sydiot

I do not legislate without my morning coffee.


The following is the full text of the tax and budget compromise bill currently on the floor of the General Assembly.

I am reposting it here for public review because I understand that people are frustrated seeing the mess Congress has made of the recent tax debate. Not everyone will like it, but that's why they call it a compromise. This bill has strong bi-partisan support and will move to a vote very soon, but I wanted to bring it here without any segments edited or censored so that the American public can see what we're up to.




Proposal Title: Tax and Budget Compromise Act
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Details of Proposal:


I think very few people disagree with me when I say the way we've gone about this tax and budget conversation is a disaster. The over-the-top proposals for tax hikes and the public humiliation of well intentioned Congressmen have brought us to a place where we are approving haphazard tax changes that could seriously affect our labor and product markets. Not only that, we have through our bungling further degraded this body's reputation with the American public and lost sight of our duties as a branch of government.

I propose the following bill as a replacement to all previous proposed changes to our tax structure, including those already passed in-game. I have not consulted with others on this proposal yet, and I'm very open to comments from all concerned in this thread. I have made adjustments to the previous compromise bill to reflect a more measured step in every regar😛 income, VATs and imports. While I am still firmly against the raising of import taxes as we have proven they are detrimental to our country's long term economic health, I am willing to concede given that so much of Congress feel very strongly that they should be in place. I also feel strongly that any further adjustments to the budget or tax policy be born from the Budget and Finance committee, and providing that this bill passes (I have no idea if it will or not, obviously) that we make a resolution that all conversations on budget and taxes for the remainder of this term stay within committee to prevent the over-politicization of sensitive matters of fiscal policy.

This bill includes:

A hike in all income taxes to 22%.

A drop in all VATs to 6%, with the exceptions of Food which is raised to 20% and infrastructure which is set to 50% and Houses which remain at 1%.

A hike in all import taxes to 3% with the exception of diamonds which remain at 1% and infrastructure which is set to 99%.

The cut of strategic reserve weekly savings from 500 to 250 Gold/week.

The addition of a supplemental budget line for Karnataka of 300 Gold/week.




This is not as big of a change on either side as the last compromise bill, but it accounts for the added revenue needs for Karnataka and prevents the need for further military cuts at this time. The fact is, the question of drastically cutting the military budget is NOT a good issue to handle in an openly hostile public argument like the one we have now. It is our duty as a body to effectively fund our programs and govern in such a way as to maintain the continuity of those programs and the effective and responsible use of the public's funds. If we can come to an agreement on taxes and this new budget we can go back to the Budget and Finance Committee, invite military and presidential leadership into the conversation and have the real talks about whether the military lines must be cut. This bill will finance our programs until such a conversation is possible.

It is my solemn intention to find a solution to our current problem, and not to exacerbate animosity and divisiveness. We must be responsible in our duties and give this compromise its due consideration. My hope is that by conceding on all sides we can return to the center and do everything we can to settle this issue amicably while leaving the more volatile question of budget cuts to the committees where it belongs.

[hr]

For the record, I propose the following tax structure:

(Income, Import, VAT)

food
22% 3% 20 %

gift
22% 3% 6 %

weapon
22% 3% 6 %

moving tickets
22% 3% 6 %

grain
22% 3%

diamonds
22% 1%

iron
22% 3%

oil
22% 3%

wood
22% 3%

house
22% 3% 1 %

hospital
22% 99% 50 %

defense system
22% 99% 50 %


[hr]

Budget as proposed to Congress on Mar. 7, 2010:

Amendments are indicated in italics, linked and dated.

US GOVERNMENT BUDGET MAR '10 - MAY '10

Defense:
Line 1. Marines: 455 Gold
Line 2. Airborne: 445 Gold
Line 3. Army: 625 Gold
Line 4. Mobile Infantry: 445 Gold
Line 5. National Guar😛 50 Gold
Line 6. Training Corps: 100 Gold (amended 3/2/2010)
Line 7. Office of Militia Support: 70 Gold
Line 8: Special Forces: 170

State:
Line 9. Executive Fund (MPPs, Battle Costs, etc.): 600 Gold

Treasury:
Line 10. Monetary Supply: 250 Gold
Line 11. Debt: 150 Gold
Line 12. V2 Fun😛 40 Gold

Interior:
Line 13. Interior Department: 25 Gold
Line 14. Arm America: 25 Gold

Line 15. Strategic Reserves: 250 Gold (use must be approved by SCI) (EDITED BY THIS BILL)

Total Weekly Budget: 3950 Gold

All non-budgeted surplus to stay in CBO until appropriated by Congressional approval. Any revenue shortfalls are to be taken first from Supplemental Budget and then lines labeled Reserves. Budget lines can be paid in Gold, USD, or foreign currency equivalent when requested, subject to DoCBO approval.

SUPPLEMENTAL BUDGET MAR '10 - MAY '10

State:
Line 16. Karnataka Tsunami Relief: 300 Gold

Total Weekly Supplemental Budget: 300 Gold

Total Weekly Budget + Supplemental: 4000 Gold
[hr]


Originator: sydiot
Sponsor: sydiot
Committee: Budget and Finance

Date submitted to Congress: 3/7/2010
As required by Congressional Procedure this proposal will remain in debate for no less than 7 hours from submission to the Floor of Congress; in the case of proposals made between 0:00 and 7:00 eRep time, the proposal must remain in debate until at least 14:00 eRep time.

Approvers:
As required by Congressional Procedure five congressional approvals required to move proposal to vote.
1) Eugene Harlot
2) Colin Lantrip
3) John Largo
4) Dell Fargus
5) Sweetbags
6) Joe Dasmoe
7) Michael IIII
😎 SGGHays
9) Desertfalcon
10) JayM32


Voting Recor😛

Additions to the above (minus Approvers) for Voting topic only:

Proposal Discussion: Look around, buddy.

Results:

Archive Date:




love, sydiot



I met The Rock! He was soooo nice.