Fiscal Responsibility Bill [On President's Desk]

[Franzl]

In general, this bill has the right idea. Tax cuts for the lower classes and a higher 50% bracket from a certain point on.

I believe in progressive taxation, and I also believe in cutting the deficit.


One thing I don't agree with here is the marriage penalty for couples that make $1 Mio. together. I see no reason we should not allow them both individually to earn that amount before coming into the 50% bracket.

[Franzl]

It should go beyond 50%.

Be happy I'm willing to go that far. Take what you can get

[Franzl]

There's no point in a 1% rate. Just don't tax income under $8,025. I also think that a 50% rate should cut in much earlier than a million, but I suspect that I might be in a small minority on that

I agree on the 1% with you and Afleitch, we might as well just raise the standard deduction and start taxation at 10% or so from a certain point.

[Franzl]

Nay

Don't ever claim to be a fiscal conservative again.

[Franzl]

Nay

Don't ever claim to be a fiscal conservative again.

I don't support tax hikes. The better way is to cut spending.

And you know perfectly well that you won't find a majority in the Senate to cut the programs you'd like to.

Now you have a choice between:

a.) paying for these programs
b.) running up the deficit.

[Franzl]

I'm satisfied with that compromise. In exchange for having over $15,000 tax free and married couples not being punished as much, I have no problem accepting the highest bracket.

[Franzl]

I haven't heard any convincing arguments that would prevent me from voting in favor of this legislation.

I personally wouldn't mind seeing the two highest brackets integrated into one 50% bracket, as 60% is quite high, but even if it stays as it is presently, I intend to vote for this.

It's a matter of fiscal responsibility for me, and I believe this tax system, combined with the high individual deduction, is actually very friendly to the lower, middle and even upper middle class.

I'm not concerned about someone making over $2 million a year having to pay half or slightly more of what he makes over $2 million. We are only taxing at that rate from that point on, it's not like he's going to be paying over 50% of his total income!

[Franzl]

I'm interested in the separate provisions for tax rates for marrieds.

I'm not greatly inclined towards having tax incentives for marriage anyway but I raise the point particularly because, so far as I thought, Atlasia doesn't recognise marriage.

I believe Atlasia issues civil unions to any two adults, right?

I suppose we could change the wording

[Franzl]

Yeah, but nonetheless I'd be grateful if Senators could discuss a bit why civil unions should be tax incentivised.

Respectfully, I don't feel that they are. All it does is allow both members of a civil union to earn the same amount as if they were single. If that weren't allowed, I would feel that we would be punishing civil unions.

[Franzl]

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Link please, I couldn't find anything subsidizing higher education on the wiki

The "Help Atlasia Study Act" that I proposed did provide subsidies for higher education.

[Franzl]

AYE, and this isn't hard to support for a true fiscal conservative.

[Franzl]

A week has passed since this legislation was passed.

It is therefore declared law without the President's signature.