Taxes, Responsibility and Common Sense
Frodo Tea Baggins
Well let's face it congress is meant to be a job of responsibility. I'm not here to debate the tax models of whether lowering tax would be beneficial but rather to explain how some, like myself reach decisions on proposals.
The recent late debate on lowering the income tax is missing something. Some of us are aware of how Ireland finances things but I'll explain for those that don't. Military funding comes from using the money market to produce funds to allow it to operate therefore taxes do not affect it, it is a seperate entity. What taxes do do is provide 100% of our MPP funding. Currently our tax levels allow for 6 MPPs per month. A seventh is possible in a good month.
Now currently the treasury shows a slight surplus. The reason for this is after the MUFC period and CUA we had a broke treasury and forgien relations on the poor side. Also including previous thefts the country was more or less broke. The surplus came not from having an higher tax rate but a short period where we operated with fewer MPPs until we could regain our place in the rest of the world. Now all of this is coming together we have the MPPs we want again and have a slight bit of extra money without any increases to the public.
Now a current check shows we currently have 6 MPPs with just losing the Bulgarian one, which if we renew returns us to 7, this is our target area. Overspending our small savings would be a poor plan because you never know when we may need that extra bump. In short we have returned to our sustainable level of taxes versus MPPs. Now as much as everyone would love to see lower income tax, here is the problem. Where are the numbers to show we can maintain our current balance of spending?
Simply put I'm not against lowering the income tax if it can be shown as to not effect our MPPs. A small increase to the VAT in exchange if it can be proven? Are wages higher that will make up the difference? Show me something, some reason I can support it without disrupting the budget. I think that's fair, however it has not been produced, so in good faith I've had to vote these recent proposals down.
In conclusion, I'm not against a change but I've had to vote against this simply because the procedure to allow such change wasn't given nor proven, as a congressman that's my job. Better luck next time.
Kaptain Kidd
Comments
An interesting article. V+S
Very very good explanation.
Thank you for writing this 🙂
On your first paragraph the price of gold has dropped with 10 IEP but it picked up again . however the price of gold vs iep has remained constant at 0.005 gold to iep. Can you please explain how the MOF makes money from these figures with no forward selling or buying. I cannot figure it out.
MoF makes shit....like Sweet before MoF just seat a watch how money from taxes gets in...that it.....
With 22 years of experience as a mechanic I only have one answer. If you have tried and have failed the answer is obvious, you didn't use a big enough hammer.
remind me to never allow you to do my taxes...and or fix my car! 😃
I will give an example of what happens.
-You have 10 gold
-Sell 10 gold at 222 IEP to 1 gold
-You have 2220 IEP
- Sell 2000 IEP at 0.005 gold to one IEP
-You make 10 gold plus the extra 220 IEP
The MoF does this to make money on the MM, although normal citizens can only buy 10 gold a day I believe the rules are different for orgs which the government has many of, so the MoF can do it on a much larger scale.
Well at least no confusion about gender of author of this article anymore...i can sleep now...
A good summary and the reason why any proposals to change tax rates are going to struggle unless we have details from the MoF to back them up. Buying and selling on the foreign markets is another possible way of raising money, but that's volatile.
Good article that ties in with this article here: http://www.erepublik.com/en/article/prevailing-wage-vs-commune--2300800/1/20
I think I have a solution that might help.
o7
Thank you for your input. I value public opinion when setting tax policy.