Second Income Tax Bill

[TeePee4Prez]

SCHEDULE X — 
 Single

 $0 $7,000 10% 
 $7,000 $28,400 15% 
 $28,400 $68,800 25% 
 $68,800 $143,500 28% 
 $143,500 $311,950 33%   
 over  $311,950 35%

PROPOSED: 

143,000-311,950 35%
311,950-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

 Married Filing  Jointly or   Qualifying   Widow(er)   
 $0 $14,000 10% 
 $14,000 $56,800 15% 
 $56,800 $114,650 25% 
 $114,650 $174,700 28% 
 $174,700 $311,950 33% 
 over  $311,950 35%

 PROPOSED: 

174,700-400,000 35%
400,000-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

SCHEDULE Y-2 —
 Married Filing  Separately 
 $0 $7,000 10% 
 $7,000 $28,400 15% 
 $28,400 $57,325 25% 
 $57,325 $87,350 28% 
 $87,350 $155,975 33%   
 35% over $155,975

PROPOSED: 

87,350-200,000 35%
200,000-1,000,000 37%
1,000,000-5,000,000 38%
5,000,000+ 40%

Rest will remain

SCHEDULE Z —
 Head of  Household   
 $0 $10,000 10% 
 $10,000 $38,050 15% 
 $38,050 $98,250 25% 
 $98,250 $159,100 28% 
 $159,100 $311,950 33% 
 35% over $311,950

PROPOSED: 

159,100-311,950 35%
311,950-2,000,000 37%
2,000,000-10,000,000 38%
10,000,000+ 40%

Rest will remain

Other proposals:

Expand hope credit to $4,000 per year
Expand Lifetime Learning to 35% of college expenses up to $15,000 annually

Phaseout for credits goes between $180,000-200,000.

GOTTA GO TO BED. MORE TO COME!

[KEmperor]

You're just in your own little world, aren't you?

[PBrunsel]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

[TeePee4Prez]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

[PBrunsel]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

Why don't we just cut federal spending to pay down the deficit?

[King]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

Why don't we just cut federal spending to pay down the deficit?

If you would like, Mr. President, I will assist you in cutting in the budget.

[PBrunsel]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

Why don't we just cut federal spending to pay down the deficit?

If you would like, Mr. President, I will assist you in cutting in the budget.

Thanks King, that is what we need. We do not need another tax hike.

[ilikeverin]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

Why don't we just cut federal spending to pay down the deficit?

If you would like, Mr. President, I will assist you in cutting in the budget.

Thanks King, that is what we need. We do not need another tax hike.

Let's learn the difference between 'wants' and 'needs'

You do not want another tax hike, but you may need another tax hike

Besides, what is there to cut?

I mean, there's always loophole closing, but that can only get you so far :S

[PBrunsel]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

Well I just thought I'd help out with some college credits and pay down the deficit better.  Any better ideas?

Why don't we just cut federal spending to pay down the deficit?

If you would like, Mr. President, I will assist you in cutting in the budget.

Thanks King, that is what we need. We do not need another tax hike.

Let's learn the difference between 'wants' and 'needs'

You do not want another tax hike, but you may need another tax hike

Besides, what is there to cut?

I mean, there's always loophole closing, but that can only get you so far :S

Tax hikes are never needed. Necesity is the mother of invention, not annoyance.

[King]

Alright then. Hopefully I will have something written up by the time you give your Constitutionally required State of the Forum Address on December 1st.

[King]

Annually, we are spending an estimated $2.4 trillion (not including tax credits). I hope to cut that to at least $2.0 trillion if not less.

[The Duke]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

We defeated IrishDems last tax hike.  What tax hike are you referring to?

[PBrunsel]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

We defeated IrishDems last tax hike.  What tax hike are you referring to?

Didn't Akno get an income tax hike through?

[King]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

We defeated IrishDems last tax hike.  What tax hike are you referring to?

Didn't Akno get an income tax hike through?

No, Akno supported the IrishDem Plan. I believe the IrishDem Plan  would have not only wiped out the deficit but also creates an $8 trillion surplus. Which would just destroy our economy...

[King]

The problem with our spending is, we have ~$170 billion in Atlas spending and no income from taxes...I don't how we can assess taxes because we don't know population, income, etc statistics for the country.

[TeePee4Prez]

Yeah, this is a more feasible plan I think.  Sometimes you need encessary government spending.  It is a vital part of the GDP.  Y(GDP)=C+I+G+(E-I).

[Bono]

The problem with our spending is, we have ~$170 billion in Atlas spending and no income from taxes...I don't how we can assess taxes because we don't know population, income, etc statistics for the country.

It's the same as America.

[Nym90]

The problem with our spending is, we have ~$170 billion in Atlas spending and no income from taxes...I don't how we can assess taxes because we don't know population, income, etc statistics for the country.

I feel that my Competitive Contracting Bill would help the government to save money, and thus I support both it and this Income Tax Bill as a common sense approach of modest tax hikes and spending cuts so as to ensure that vital government programs have the money that they need, while spending is reduced in such a way that will not decrease and in fact will increase in some cases the level of service that Atlasians get from their government.

[The Duke]

The problem with our spending is, we have ~$170 billion in Atlas spending and no income from taxes...I don't how we can assess taxes because we don't know population, income, etc statistics for the country.

It's the same as America.

Exactly.

Yeah, this is a more feasible plan I think. Sometimes you need encessary government spending. It is a vital part of the GDP. Y(GDP)=C+I+G+(E-I).

The more important questio is, in the long run, where would you like the bulk of the economy to be concentrated.  I'd like it in the I category, because thats where real long term growth comes from, not G which ends up being inflationary.  No one is disputing the need for G< our case is that it should be kept to things that are necessary, leaving the bulk of people's incomes in their own pockets for spending and investment.

[Akno21]

I see this bill as just another tax hike. The  income tax code is fine and we just had an income tax hike passed like last September.

We defeated IrishDems last tax hike.  What tax hike are you referring to?

Didn't Akno get an income tax hike through?

No, Akno supported the IrishDem Plan. I believe the IrishDem Plan  would have not only wiped out the deficit but also creates an $8 trillion surplus. Which would just destroy our economy...

Had my 2nd Educational Equipment Act act passed, that would have raised taxes, yes. However, the Education and Care for those in Poverty Act, which was passed by the Senate and abstained on by the President, does increase spending on education and care for those in poverty by a sizable amount.

[Nym90]

Government spending does cause inflation if it is wasteful and unnecessary. But as long as it is being spend productively and increasing the efficiency of the economy or otherwise providing a needed service or product, it does not.

[TeePee4Prez]

Government spending does cause inflation if it is wasteful and unnecessary. But as long as it is being spend productively and increasing the efficiency of the economy or otherwise providing a needed service or product, it does not.

To pass Akno's Bill we need this modest hike.  We also need this to pay for the war.