Welcome, Guest. Please login or register.
Did you miss your activation email?
October 01, 2014, 03:24:25 pm
HomePredMockPollEVCalcAFEWIKIHelpLogin Register
News: Atlas Hardware Upgrade complete October 13, 2013.

+  Atlas Forum
|-+  Atlas Fantasy Elections
| |-+  Atlas Fantasy Government
| | |-+  Regional Governments (Moderator: Gustaf)
| | | |-+  MA: Regional Budget (In the works)
« previous next »
Pages: 1 2 3 4 5 6 [7] Print
Author Topic: MA: Regional Budget (In the works)  (Read 9181 times)
Queen Mum Inks.LWC
Inks.LWC
YaBB God
*****
Posts: 35772
United States


View Profile WWW
« Reply #150 on: December 01, 2011, 12:21:38 am »
Ignore

Where exactly are we at?  Is the last version on here all ready to go?
Logged
A-Bob
YaBB God
*****
Posts: 5928
United States


Political Matrix
E: 3.42, S: 1.13

View Profile
« Reply #151 on: December 04, 2011, 03:36:25 pm »
Ignore

We were waiting on final numbers from the GM. That's all we had left, and then subsequently change tax rates or spending to ensure a balanced budget.
Logged

shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #152 on: December 04, 2011, 08:57:20 pm »
Ignore

It looks like you just need the numbers on the tax revenue aside from income tax.
SoIA and/or I can help you with that.
Logged

shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #153 on: December 13, 2011, 10:25:55 pm »
Ignore

If someone can let me know what the difference is between the current proposal and the one before it, that would help me figure out how the revenue projection.
Logged

Queen Mum Inks.LWC
Inks.LWC
YaBB God
*****
Posts: 35772
United States


View Profile WWW
« Reply #154 on: December 15, 2011, 03:57:03 am »
Ignore

I'm honestly not sure.
Logged
Governor TJ
TJ in Cleve
YaBB God
*****
Posts: 4920
United States


View Profile
« Reply #155 on: December 15, 2011, 11:02:36 am »
Ignore

If someone can let me know what the difference is between the current proposal and the one before it, that would help me figure out how the revenue projection.

I think the only difference is in the taxes listed at the bottom (not the income or corporate taxes). Although, the economy may have changed enough since April to make some difference in those categories too.
Logged

shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #156 on: December 15, 2011, 11:49:13 am »
Ignore

okay, I figured out what the changes are.

----
Income Tax Rate: April Proposal   Revenue projected:
0%    $0 - $13,000
1%    $13,001 - $40,000
1.5%    $40,001 - $100,000
2%    $100,001 - $180,000
2.5%    $180,001 - $300,000
3.20%    $300,001 - $750,000
4%    $750,001 - $2,750,000
5%    $2,750,001- $9,999,999
6.5%   $10,000,000+

Income Tax Rate: August Proposal
0%    $0 - $13,000
1%    $13,001 - $40,000
1.5%    $40,001 - $100,000
2.2%    $100,001 - $180,000
2.7%    $180,001 - $300,000
3.25%    $300,001 - $750,000
4%    $750,001 - $2,750,000
5%    $2,750,001- $9,999,999
6.5%   $10,000,000+

Corporate Tax Rate: no change. 
0%    $0 - $50,000
0.5%    $50,001 - $75,000
1%    $75,001 - $125,000
1.5%    $125,001 - $350,000
2%    $350,001 - $1,000,000
2.5%    $1,000,001 - $10,000,000
3.25%    $10,000,001 - $20,000,000
4%    $20,000,001-$70,000,000
5%   $70,000,001+

Sales Tax Rate: 5.7% (Groceries, prescription drugs exempt)  No change.

Excise Taxes:
April Proposal:
Gas: 1.5 cents/gallon (2 cents/gallon for diesel).
Cigarettes: $1.60 per pack.
Other Tobacco Products: 55% Manufactures Price
Distilled Spirits: $2.70 per gallon
Wine: $0.30 per gallon
Beer: $0.20 per gallon

August Proposal:
Gas: 7 cents/gallon (10 cents/gallon for diesel).
Cigarettes: $1.60 per pack.
Other Tobacco Products: 55% Manufactures Price
Distilled Spirits: $2.70 per gallon
Wine: $0.30 per gallon
Beer: $0.20 per gallon
Marijuana: $3.00/gram if owner possesses less than 28 grams
$4.50/gram if owner possesses 28 grams or more

____________________________________________________
I expect I'll use the previously calculated revenue numbers where there hasn't been a change, since whether these numbers are too high or too low are going to depend so much on unpredictable changes in policy, and these are rough projections/ estimations anyway. 

The marijuana tax doesn't make much sense to me. You can tax marijuana, but when you talk about "possesses" that's not an excise tax - it's a property tax, and you'll need property assessors going around seeing how much marijuana people have.  If you want an excise tax, you really need a single rate regardless of the amount of an item being purchased.  Otherwise, a single transaction can just be divided up into two transactions to escape the higher tax rate.  So . . . I guess I'll just assume it's a $3/gram excise tax.  Maybe someone more familiar with the um, consumption rate of marijuana can help me out in my calculation. Tongue
Logged

shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #157 on: December 15, 2011, 11:17:09 pm »
Ignore

I figured the change in the income tax there is about +0.7 Billion and the increase in the gas tax is about +1.8 Billion.  So, not a large difference in  terms of the total budget. ( I'll wait on making any estimation on a marijuana tax here, since there's a bill being discussed now that would dedicate any money from a proposed tax. )
I'll need to find out what the deal is with that social insurance tax revenue, since it seems large to me, and I don't know of any social insurance program in the budget except unemployment insurance.
Logged

ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #158 on: July 04, 2012, 09:15:40 am »
Ignore

I am bumping this thread because it will be of use soon. One of my campaign promises was that I would work on the budget, and I think it's about time to get started and revive this.
Logged
All In For KC
tmthforu94
YaBB God
*****
Posts: 18383
United States


View Profile WWW
« Reply #159 on: July 04, 2012, 09:42:55 am »
Ignore

It lives!
Logged


"A life is not important except in the impact it has on other lives."
-Jackie Robinson
ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #160 on: July 07, 2012, 01:23:22 pm »
Ignore

These are the most recent revenue figures (though they must be updated based on shua's latest calculations in the post above):

Revenue:Amount
Income Taxes:$34.6 B
Social Insurance Taxes:$24.4 B
"Ad Valorum" Taxes:$108.5 B
Fees:$43.3 B
Business and Other:$66.3 B
TOTAL:$277.1 B

*(I included the increase in license fees under Ad Valorum and Business taxes, for the most part. I truthfully had no idea where they really belonged.)



And this is what we have for spending (though shua's latest post must also be taken into consideration here):

Here's my most updated version. I took a lot out from tax cuts, and made sure everything is equal in spending to RL pretty much (minus HC) which was already mainly Medicare and Medicaid money. I've also slightly increased taxes, mostly in excise and a little for the rich in income tax (which is still pretty much in line or lower than RL averages).

*(No change) does NOT denote changing in spending levels from RL to this budget. It's really there for the next budget so we can copy this first budget, change the numbers, and then off to the side put the positive/negative change since the preceeding budget.

Total Budget: $310.61 billion
Spending ($229.41 billion)

Energy ($5.85  billion)
$3 Billion ...... Loans to be granted to energy companies that have a responsible environmental track record, are seriously attempting to develop clean energy alternatives, push for energy efficiency and/or have an approved plan to do so.
$1 Billion  ...... Fund for alternative energy
$1 Billion  ...... Updating the Mideast's current energy infrastructure
$0.5 Billion  ...... Refitting all government buildings to run on clean energy
$0.25 Billion  ...... Refitting all government vehicles (cars, planes, etc.) to run on clean energy)

Natural resources and environment ($5.21 billion)
$2.61 billion ...... Water resources (No Change)
$0.57 billion ...... Conservation and land management (No Change)
$0.42 billion ...... Recreational & Park resources (No Change)
$1.11 billion ...... Pollution control and abatement (No Change)
$0.5 billion ....... Other natural resources (No Change)

Agriculture ($4.04 billion)
$2.95 billion ..... Farm income stabilization & crop insurance (No Change)
$1.09 billion ...... Agricultural research and services (No Change)

Commerce and Housing Loan Programs ($1.95 billion)
$0.34 billion ..... Housing Loan Programs (No Change)
$0.02 billion ..... Deposit insurance (No Change)
$1.36 billion ...... Universal service fund (No Change)
$0.23 billion ...... Other advancement of commerce (No Change)

Transportation ($23.25 billion)
$9.00 billion ..... Highways and highway safety (No Change)
$4.00 billion ...... Mass transit (No Change)
$0.25 billion ...... Railroads (No Change)
$2.05 billion ..... Air Transportation (No Change)
$1.05 billion ...... Water transportation (No Change)
$0.45 billion ...... Other transportation (No Change)
$6.45 billion ..... Non-Highway Roads (No Change)
Community and regional development ($4.39 billion)
$2.50 billion ...... Community development (No Change)
$0.96 billion ...... Area and regional development (No Change)
$0.93 billion ...... Disaster relief and insurance (No Change)

Education ($68.00 billion)
$40.00 billion ..... Elementary, Secondary & Vocational education (No Change)
$20.00 billion ..... Higher education (No Change)
$8.00 billion ...... Research and general education (No Change)

Training, labor and unemployment ($9.37 billion)
$4.34 billion ...... Training and employment (No Change)
$0.2 billion ....... Labor law, statistics, and other administration (No Change)
$4.83 billion ..... Unemployment compensation (No Change)

Health Spending ($12.00 billion)
$1.15 billion ...... Substance abuse and mental health services (No Change)
$0.70 billion ....... Disease control, public health and bioterrorism (No Change)
$8.45 billion ..... Health research and training (No Change)
$1.50 billion ...... Food safety and occupational health and safety (No Change)
$0.20 billion ..... Other health care services (No Change)
$1.00 billion ...... Health care fraud (No Change)

Civilian Retirement ($41.50 billion)
$1.0 billion ...... Civilian retirement and disability insurance (No Change)
$29.50 billion ..... Mideast employee retirement and disability (No Change)
$11.00 billion ...... Mideast employees' and retired employees' health benefits (No Change)

Aid to Low-Income Families ($25.00 billion)
$6.01 billion ..... Housing assistance (No Change)
$4.33 billion ..... Food stamps (No Change)
$2.3 billion ...... Other nutrition programs (WIC, school lunches) (No Change)
$3.33 billion ..... Family support payments (TANF) (No Change)
$7.01 billion ..... Earned Income Tax Credit (EITC) (No Change)
$0.85 billion ..... Child tax credit (No Change)
$0.99 billion ....... Child care funds (No Change)
$0.18 billion ...... Other aid to low-income families (No Change)

General Family Support ($5.39 billion)
$1.32 billion ...... Foster care and adoption assistance (No Change)
$0.33 billion ...... Child support and family support programs (No Change)
$3.74 billion ..... Social and family services (No Change)

Administration of justice ($20.45 billion)
$11.35 billion ..... Regional law enforcement and security (No Change)
$5.21 billion ..... Regional litigation and judicial activities (No Change)
$2.89 billion ...... Regional prison system (No Change)
$1.00 billion ...... Criminal justice assistance (No Change)

General government administration ($3.01 billion)
$0.31 billion ...... Legislative functions (No Change)
$0.10 billion ...... Executive office programs (No Change)
$2.05 billion ....... Fiscal operations (No Change)
$0.55 billion ...... Other general government (No Change)
--------------------------------------------------------------------------------

Tax Expenditures and Tax Cuts ($81.20 billion)

Corporate Tax Breaks ($11.03 billion)
$7.00 billion ...... R&D Tax Breaks (No Change)
$1.01 billion ...... Energy, Mining and Timber Tax Breaks (No Change)
$2.03 billion ...... Tax Free Bonds (No Change)
$0.99 billion ..... Other Corporate Tax Breaks (No Change)

Personal Business & Investment Benefits ($5.09 billion)
$3.80 billion ..... Tax-Free Bonds (No Change)
$0.56 billion ...... Enterprise & Empowerment Zones and New Markets credit (No Change)
$0.33 billion ....... Other personal investment tax breaks (No Change)

Pension & Retirement Deductions ($26.08 billion)
$10.05 billion ..... Employer-paid Pensions (No Change)
$7.05 billion ..... 401Ks & Keogh plans (No Change)
$1.50 billion ...... IRAs (No Change)
$6.62 billion ..... Group and personal life insurance benefits (No Change)
$0.86 billion ...... Other retirement benefits (No Change)

Health Insurance Tax Benefits ($12.64 billion)
$9.80 billion .... Employer-paid Health Insurance (No Change)
$1.03 billion ...... Self-employed medical insurance premiums (No Change)
$1.70 billion ...... Medical Savings/Health Savings Accounts (No Change)
$1.11 billion ...... Deductibility of medical expenses (No Change)

Housing tax benefits ($12.67 billion)
$5.50 billion ..... Mortgage Interest (No Change)
$3.01 billion ..... Deductibility of property taxes on homes (No Change)
$3.51 billion ..... Exclusion of net imputed rental income on owner-occupied homes (No Change)
$0.91 billion ...... Housing bonds & low-income housing investments (No Change)

Other individual deductions and exemptions ($14.43 billion)
$3.62 billion ..... Charitable contributions (No Change)
$1.91 billion ..... Local taxes (w/o home property) (No Change)
$0.56 billion ...... Workmen's compensation (No Change)
$3.33 billion ..... Education deductions and credits (No Change)
$1.31 billion ..... Child credit (No Change)
$1.38 billion ...... Child care credits and deductions (No Change)
$0.46 billion ......... Deduction for the blind and elderly (No Change)
$0.41 billion ...... Employee parking and transit expenses (No Change)
$0.35 billion ...... Adoption and foster care tax credits (No Change)
$0.80 billion ...... Earned Income Tax Credit (EITC)- revenue loss component (No Change)
$0.30 billion ...... Other fringe benefits (No Change)
----------

Income Tax Rate:
0%    $0 - $13,000
1%    $13,001 - $40,000
1.5%    $40,001 - $100,000
2%    $100,001 - $180,000
2.5%    $180,001 - $300,000
3.20%    $300,001 - $750,000
4%    $750,001 - $2,750,000
5%    $2,750,001- $9,999,999
6.5%   $10,000,000+

Corporate Tax Rate:
0%    $0 - $50,000
0.5%    $50,001 - $75,000
1%    $75,001 - $125,000
1.5%    $125,001 - $350,000
2%    $350,001 - $1,000,000
2.5%    $1,000,001 - $10,000,000
3.25%    $10,000,001 - $20,000,000
4%    $20,000,001-$70,000,000
5%   $70,000,001+

Sales Tax Rate: 5.7% (Groceries, prescription drugs exempt)

Excise Taxes:

Gas: 1.5 cents/gallon (2 cents/gallon for diesel).

Cigarettes: $1.60 per pack.
Other Tobacco Products: 55% Manufactures Price
Distilled Spirits: $2.70 per gallon
Wine: $0.30 per gallon
Beer: $0.20 per gallon


Now this is our basis to work on! Wink
Logged
ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #161 on: July 08, 2012, 07:31:11 am »
Ignore

As far as I understand, the original budget (before shua's latest calculations) would have resulted in a deficit of $33.51 B (revenue: $277.1 B, expenditures: $310.61). If we take into account the following:

I figured the change in the income tax there is about +0.7 Billion and the increase in the gas tax is about +1.8 Billion.  So, not a large difference in  terms of the total budget. ( I'll wait on making any estimation on a marijuana tax here, since there's a bill being discussed now that would dedicate any money from a proposed tax. )
I'll need to find out what the deal is with that social insurance tax revenue, since it seems large to me, and I don't know of any social insurance program in the budget except unemployment insurance.

the deficit is reduced to around $31 B, but the marijuana tax is not included in these estimations. I guess once we can get around solving the marijuana tax problem, we can introduce this budget to the Assembly and discuss any further cuts so that the budget will be more balanced.
Logged
shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #162 on: July 08, 2012, 05:19:49 pm »
Ignore

The figure for the Marijuana Tax is $2.40 billion.  It is spent on the following:
$1.2 billion    Victim Compensation Fund
$1.08 billion  Cannabis Prevention Center
$0.12 billion  community murals

Under tax expenditures, given the impact of current national policy, employer sponsored health plan deductions should be reduced by $4.5 billion and health savings account deductions should be increased by $3 billion.

Also, please note this budget has public employees funding almost all of their own pensions, so you might get some push back on the unions from that.
Logged

A-Bob
YaBB God
*****
Posts: 5928
United States


Political Matrix
E: 3.42, S: 1.13

View Profile
« Reply #163 on: July 10, 2012, 08:41:32 pm »
Ignore

Pensions were a huge problem when I was writing this budget, especially with Badger as GM. We should look into a bill to define pensions and how they will work as well as the retirement ages for various government employees from here forward.
Logged

ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #164 on: July 12, 2012, 08:24:52 am »
Ignore

The figure for the Marijuana Tax is $2.40 billion.  It is spent on the following:
$1.2 billion    Victim Compensation Fund
$1.08 billion  Cannabis Prevention Center
$0.12 billion  community murals

Under tax expenditures, given the impact of current national policy, employer sponsored health plan deductions should be reduced by $4.5 billion and health savings account deductions should be increased by $3 billion.

Also, please note this budget has public employees funding almost all of their own pensions, so you might get some push back on the unions from that.

Thanks for your figures for the marijuana tax!

Now regarding your comments on tax expenditures, is that what you meant?


Quote
Health Insurance Tax Benefits ($12.14 billion)
$5.30 billion .... Employer-paid Health Insurance (No Change)
$1.03 billion ...... Self-employed medical insurance premiums (No Change)
$4.70 billion ...... Medical Savings/Health Savings Accounts (No Change)
$1.11 billion ...... Deductibility of medical expenses (No Change)
Logged
ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #165 on: July 13, 2012, 02:14:00 pm »
Ignore

I went through each part of the budget again, re-calculated every section and found some minor errors, corrected them and amended the entire budget according to GM shua's most recent estimations. As a result, we have a complete version of the budget. I will go through all numbers again later, but take that as a preliminary result:

Quote
Updated budget

Revenue:

Revenue: Amount
Income Taxes: $35.3 B
Social Insurance Taxes: $24.4 B
"Ad Valorum" Taxes: $108.5 B
Fees: $43.3 B
Business and Other: $70.5 B
TOTAL: $282 B


---------------------------------------------------------------------------------------------------
Total Budget: $314.01 billion
Spending ($232.71 billion)

*(No change) does NOT denote changing in spending levels from RL to this budget. It's really there for the next budget so we can copy this first budget, change the numbers, and then off to the side put the positive/negative change since the preceeding budget.

Energy ($5.75  billion)
$3 Billion ...... Loans to be granted to energy companies that have a responsible environmental track record, are seriously attempting to develop clean energy alternatives, push for energy efficiency and/or have an approved plan to do so.
$1 Billion  ...... Fund for alternative energy
$1 Billion  ...... Updating the Mideast's current energy infrastructure
$0.5 Billion  ...... Refitting all government buildings to run on clean energy
$0.25 Billion  ...... Refitting all government vehicles (cars, planes, etc.) to run on clean energy)

Natural resources and environment ($5.21 billion)
$2.61 billion ...... Water resources (No Change)
$0.57 billion ...... Conservation and land management (No Change)
$0.42 billion ...... Recreational & Park resources (No Change)
$1.11 billion ...... Pollution control and abatement (No Change)
$0.5 billion ....... Other natural resources (No Change)

Agriculture ($4.04 billion)
$2.95 billion ..... Farm income stabilization & crop insurance (No Change)
$1.09 billion ...... Agricultural research and services (No Change)

Commerce and Housing Loan Programs ($1.95 billion)
$0.34 billion ..... Housing Loan Programs (No Change)
$0.02 billion ..... Deposit insurance (No Change)
$1.36 billion ...... Universal service fund (No Change)
$0.23 billion ...... Other advancement of commerce (No Change)

Transportation ($23.25 billion)
$9.00 billion ..... Highways and highway safety (No Change)
$4.00 billion ...... Mass transit (No Change)
$0.25 billion ...... Railroads (No Change)
$2.05 billion ..... Air Transportation (No Change)
$1.05 billion ...... Water transportation (No Change)
$0.45 billion ...... Other transportation (No Change)
$6.45 billion ..... Non-Highway Roads (No Change)

Community and regional development ($4.39 billion)
$2.50 billion ...... Community development (No Change)
$0.96 billion ...... Area and regional development (No Change)
$0.93 billion ...... Disaster relief and insurance (No Change)

Education ($69.32 billion)
$41.32 billion ..... Elementary, Secondary & Vocational education (No Change)
$20.00 billion ..... Higher education (No Change)
$8.00 billion ...... Research and general education (No Change)

Training, labor and unemployment ($9.37 billion)
$4.34 billion ...... Training and employment (No Change)
$0.2 billion ....... Labor law, statistics, and other administration (No Change)
$4.83 billion ..... Unemployment compensation (No Change)

Health Spending ($14.08 billion)
$2.23 billion ...... Substance abuse and mental health services (No Change)
$0.70 billion ....... Disease control, public health and bioterrorism (No Change)
$8.45 billion ..... Health research and training (No Change)
$1.50 billion ...... Food safety and occupational health and safety (No Change)
$0.20 billion ..... Other health care services (No Change)
$1.00 billion ...... Health care fraud (No Change)

Civilian Retirement ($41.50 billion)
$1.0 billion ...... Civilian retirement and disability insurance (No Change)
$29.50 billion ..... Mideast employee retirement and disability (No Change)
$11.00 billion ...... Mideast employees' and retired employees' health benefits (No Change)

Aid to Low-Income Families ($25.00 billion)
$6.01 billion ..... Housing assistance (No Change)
$4.33 billion ..... Food stamps (No Change)
$2.3 billion ...... Other nutrition programs (WIC, school lunches) (No Change)
$3.33 billion ..... Family support payments (TANF) (No Change)
$7.01 billion ..... Earned Income Tax Credit (EITC) (No Change)
$0.85 billion ..... Child tax credit (No Change)
$0.99 billion ....... Child care funds (No Change)
$0.18 billion ...... Other aid to low-income families (No Change)

General Family Support ($5.39 billion)
$1.32 billion ...... Foster care and adoption assistance (No Change)
$0.33 billion ...... Child support and family support programs (No Change)
$3.74 billion ..... Social and family services (No Change)

Administration of justice ($20.45 billion)
$11.35 billion ..... Regional law enforcement and security (No Change)
$5.21 billion ..... Regional litigation and judicial activities (No Change)
$2.89 billion ...... Regional prison system (No Change)
$1.00 billion ...... Criminal justice assistance (No Change)

General government administration ($3.01 billion)
$0.31 billion ...... Legislative functions (No Change)
$0.10 billion ...... Executive office programs (No Change)
$2.05 billion ....... Fiscal operations (No Change)
$0.55 billion ...... Other general government (No Change)
--------------------------------------------------------------------------------

Tax Expenditures and Tax Cuts ($81.3 billion)

Corporate Tax Breaks ($11.03 billion)
$7.00 billion ...... R&D Tax Breaks (No Change)
$1.01 billion ...... Energy, Mining and Timber Tax Breaks (No Change)
$2.03 billion ...... Tax Free Bonds (No Change)
$0.99 billion ..... Other Corporate Tax Breaks (No Change)

Personal Business & Investment Benefits ($4.69 billion)
$3.80 billion ..... Tax-Free Bonds (No Change)
$0.56 billion ...... Enterprise & Empowerment Zones and New Markets credit (No Change)
$0.33 billion ....... Other personal investment tax breaks (No Change)

Pension & Retirement Deductions ($26.08 billion)
$10.05 billion ..... Employer-paid Pensions (No Change)
$7.05 billion ..... 401Ks & Keogh plans (No Change)
$1.50 billion ...... IRAs (No Change)
$6.62 billion ..... Group and personal life insurance benefits (No Change)
$0.86 billion ...... Other retirement benefits (No Change)

Health Insurance Tax Benefits ($12.14 billion)
$5.30 billion .... Employer-paid Health Insurance (No Change)
$1.03 billion ...... Self-employed medical insurance premiums (No Change)
$4.70 billion ...... Medical Savings/Health Savings Accounts (No Change)
$1.11 billion ...... Deductibility of medical expenses (No Change)

Housing tax benefits ($12.93 billion)
$5.50 billion ..... Mortgage Interest (No Change)
$3.01 billion ..... Deductibility of property taxes on homes (No Change)
$3.51 billion ..... Exclusion of net imputed rental income on owner-occupied homes (No Change)
$0.91 billion ...... Housing bonds & low-income housing investments (No Change)

Other individual deductions and exemptions ($14.43 billion)
$3.62 billion ..... Charitable contributions (No Change)
$1.91 billion ..... Local taxes (w/o home property) (No Change)
$0.56 billion ...... Workmen's compensation (No Change)
$3.33 billion ..... Education deductions and credits (No Change)
$1.31 billion ..... Child credit (No Change)
$1.38 billion ...... Child care credits and deductions (No Change)
$0.46 billion ......... Deduction for the blind and elderly (No Change)
$0.41 billion ...... Employee parking and transit expenses (No Change)
$0.35 billion ...... Adoption and foster care tax credits (No Change)
$0.80 billion ...... Earned Income Tax Credit (EITC)- revenue loss component (No Change)
$0.30 billion ...... Other fringe benefits (No Change)
----------

Income Tax Rate:
0%    $0 - $13,000
1%    $13,001 - $40,000
1.5%    $40,001 - $100,000
2.2%    $100,001 - $180,000
2.7%    $180,001 - $300,000
3.25%    $300,001 - $750,000
4%    $750,001 - $2,750,000
5%    $2,750,001- $9,999,999
6.5%   $10,000,000+

Corporate Tax Rate:
0%    $0 - $50,000
0.5%    $50,001 - $75,000
1%    $75,001 - $125,000
1.5%    $125,001 - $350,000
2%    $350,001 - $1,000,000
2.5%    $1,000,001 - $10,000,000
3.25%    $10,000,001 - $20,000,000
4%    $20,000,001-$70,000,000
5%   $70,000,001+

Sales Tax Rate: 5.7% (Groceries, prescription drugs exempt)

Excise Taxes:

Gas: 7 cents/gallon (10 cents/gallon for diesel).

Cigarettes: $1.60 per pack.
Other Tobacco Products: 55% Manufactures Price
Distilled Spirits: $2.70 per gallon
Wine: $0.30 per gallon
Beer: $0.20 per gallon
Marijuana: $3.00/gram if owner possesses less than 28 grams
$4.50/gram if owner possesses 28 grams or more

Projected Deficit: Revenue - (Spending + Tax Expenditures/Cuts) = 282 - 314.01 = 32.21 --> $32.01 B

(FTR, the $2.4 B the Marijuana Tax brings in are included in the revenue as well as the spending section. The sum is partly included in the "Education" section and partly in the "Health Spending" section.
« Last Edit: July 13, 2012, 02:30:12 pm by Mideast Governor ZuWo »Logged
A-Bob
YaBB God
*****
Posts: 5928
United States


Political Matrix
E: 3.42, S: 1.13

View Profile
« Reply #166 on: July 14, 2012, 09:55:18 pm »
Ignore

Sounds like a moo moo. It will be good to have a budget Cheesy

Btw I just flew in tonight and am back in Denver.
Logged

shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #167 on: July 18, 2012, 11:38:36 pm »
Ignore

Quote
Marijuana: $3.00/gram if owner possesses less than 28 grams
$4.50/gram if owner possesses 28 grams or more

That is from a previous proposal.  The current marijuana tax is a 25% sales tax.

I would suggest we list the revenue from the specific sales and excise taxes, and make the marijuana program spending apparent as well. This shouldn't be too hard - a lot of this information is already in this thread and I can help fill in the gaps where needed.
« Last Edit: July 18, 2012, 11:40:13 pm by shua, gm »Logged

ZuWo
YaBB God
*****
Posts: 4437
Switzerland


View Profile
« Reply #168 on: July 27, 2012, 02:56:49 pm »
Ignore

Quote
Mideast Budget 2012

Revenue:

Revenue: Amount
Income Taxes: $35.3 B
Social Insurance Taxes: $24.4 B
"Ad Valorum" Taxes: $108.5 B
Fees: $43.3 B
Business and Other: $70.5 B
TOTAL: $282 B


---------------------------------------------------------------------------------------------------
Total Budget: $314.01 billion
Spending ($232.71 billion)

*(No change) does NOT denote changing in spending levels from RL to this budget. It's really there for the next budget so we can copy this first budget, change the numbers, and then off to the side put the positive/negative change since the preceeding budget.

Energy ($5.75  billion)
$3 Billion ...... Loans to be granted to energy companies that have a responsible environmental track record, are seriously attempting to develop clean energy alternatives, push for energy efficiency and/or have an approved plan to do so.
$1 Billion  ...... Fund for alternative energy
$1 Billion  ...... Updating the Mideast's current energy infrastructure
$0.5 Billion  ...... Refitting all government buildings to run on clean energy
$0.25 Billion  ...... Refitting all government vehicles (cars, planes, etc.) to run on clean energy)

Natural resources and environment ($5.21 billion)
$2.61 billion ...... Water resources (No Change)
$0.57 billion ...... Conservation and land management (No Change)
$0.42 billion ...... Recreational & Park resources (No Change)
$1.11 billion ...... Pollution control and abatement (No Change)
$0.5 billion ....... Other natural resources (No Change)

Agriculture ($4.04 billion)
$2.95 billion ..... Farm income stabilization & crop insurance (No Change)
$1.09 billion ...... Agricultural research and services (No Change)

Commerce and Housing Loan Programs ($1.95 billion)
$0.34 billion ..... Housing Loan Programs (No Change)
$0.02 billion ..... Deposit insurance (No Change)
$1.36 billion ...... Universal service fund (No Change)
$0.23 billion ...... Other advancement of commerce (No Change)

Transportation ($23.25 billion)
$9.00 billion ..... Highways and highway safety (No Change)
$4.00 billion ...... Mass transit (No Change)
$0.25 billion ...... Railroads (No Change)
$2.05 billion ..... Air Transportation (No Change)
$1.05 billion ...... Water transportation (No Change)
$0.45 billion ...... Other transportation (No Change)
$6.45 billion ..... Non-Highway Roads (No Change)

Community and regional development ($4.39 billion)
$2.50 billion ...... Community development (No Change)
$0.96 billion ...... Area and regional development (No Change)
$0.93 billion ...... Disaster relief and insurance (No Change)

Education ($69.32 billion)
$41.32 billion ..... Elementary, Secondary & Vocational education (No Change)
$20.00 billion ..... Higher education (No Change)
$8.00 billion ...... Research and general education (No Change)

Training, labor and unemployment ($9.37 billion)
$4.34 billion ...... Training and employment (No Change)
$0.2 billion ....... Labor law, statistics, and other administration (No Change)
$4.83 billion ..... Unemployment compensation (No Change)

Health Spending ($14.08 billion)
$2.23 billion ...... Substance abuse and mental health services (No Change)
$0.70 billion ....... Disease control, public health and bioterrorism (No Change)
$8.45 billion ..... Health research and training (No Change)
$1.50 billion ...... Food safety and occupational health and safety (No Change)
$0.20 billion ..... Other health care services (No Change)
$1.00 billion ...... Health care fraud (No Change)

Civilian Retirement ($41.50 billion)
$1.0 billion ...... Civilian retirement and disability insurance (No Change)
$29.50 billion ..... Mideast employee retirement and disability (No Change)
$11.00 billion ...... Mideast employees' and retired employees' health benefits (No Change)

Aid to Low-Income Families ($25.00 billion)
$6.01 billion ..... Housing assistance (No Change)
$4.33 billion ..... Food stamps (No Change)
$2.3 billion ...... Other nutrition programs (WIC, school lunches) (No Change)
$3.33 billion ..... Family support payments (TANF) (No Change)
$7.01 billion ..... Earned Income Tax Credit (EITC) (No Change)
$0.85 billion ..... Child tax credit (No Change)
$0.99 billion ....... Child care funds (No Change)
$0.18 billion ...... Other aid to low-income families (No Change)

General Family Support ($5.39 billion)
$1.32 billion ...... Foster care and adoption assistance (No Change)
$0.33 billion ...... Child support and family support programs (No Change)
$3.74 billion ..... Social and family services (No Change)

Administration of justice ($20.45 billion)
$11.35 billion ..... Regional law enforcement and security (No Change)
$5.21 billion ..... Regional litigation and judicial activities (No Change)
$2.89 billion ...... Regional prison system (No Change)
$1.00 billion ...... Criminal justice assistance (No Change)

General government administration ($3.01 billion)
$0.31 billion ...... Legislative functions (No Change)
$0.10 billion ...... Executive office programs (No Change)
$2.05 billion ....... Fiscal operations (No Change)
$0.55 billion ...... Other general government (No Change)
--------------------------------------------------------------------------------

Tax Expenditures and Tax Cuts ($81.3 billion)

Corporate Tax Breaks ($11.03 billion)
$7.00 billion ...... R&D Tax Breaks (No Change)
$1.01 billion ...... Energy, Mining and Timber Tax Breaks (No Change)
$2.03 billion ...... Tax Free Bonds (No Change)
$0.99 billion ..... Other Corporate Tax Breaks (No Change)

Personal Business & Investment Benefits ($4.69 billion)
$3.80 billion ..... Tax-Free Bonds (No Change)
$0.56 billion ...... Enterprise & Empowerment Zones and New Markets credit (No Change)
$0.33 billion ....... Other personal investment tax breaks (No Change)

Pension & Retirement Deductions ($26.08 billion)
$10.05 billion ..... Employer-paid Pensions (No Change)
$7.05 billion ..... 401Ks & Keogh plans (No Change)
$1.50 billion ...... IRAs (No Change)
$6.62 billion ..... Group and personal life insurance benefits (No Change)
$0.86 billion ...... Other retirement benefits (No Change)

Health Insurance Tax Benefits ($12.14 billion)
$5.30 billion .... Employer-paid Health Insurance (No Change)
$1.03 billion ...... Self-employed medical insurance premiums (No Change)
$4.70 billion ...... Medical Savings/Health Savings Accounts (No Change)
$1.11 billion ...... Deductibility of medical expenses (No Change)

Housing tax benefits ($12.93 billion)
$5.50 billion ..... Mortgage Interest (No Change)
$3.01 billion ..... Deductibility of property taxes on homes (No Change)
$3.51 billion ..... Exclusion of net imputed rental income on owner-occupied homes (No Change)
$0.91 billion ...... Housing bonds & low-income housing investments (No Change)

Other individual deductions and exemptions ($14.43 billion)
$3.62 billion ..... Charitable contributions (No Change)
$1.91 billion ..... Local taxes (w/o home property) (No Change)
$0.56 billion ...... Workmen's compensation (No Change)
$3.33 billion ..... Education deductions and credits (No Change)
$1.31 billion ..... Child credit (No Change)
$1.38 billion ...... Child care credits and deductions (No Change)
$0.46 billion ......... Deduction for the blind and elderly (No Change)
$0.41 billion ...... Employee parking and transit expenses (No Change)
$0.35 billion ...... Adoption and foster care tax credits (No Change)
$0.80 billion ...... Earned Income Tax Credit (EITC)- revenue loss component (No Change)
$0.30 billion ...... Other fringe benefits (No Change)
----------

Income Tax Rate:
0%    $0 - $13,000
1%    $13,001 - $40,000
1.5%    $40,001 - $100,000
2.2%    $100,001 - $180,000
2.7%    $180,001 - $300,000
3.25%    $300,001 - $750,000
4%    $750,001 - $2,750,000
5%    $2,750,001- $9,999,999
6.5%   $10,000,000+

Corporate Tax Rate:
0%    $0 - $50,000
0.5%    $50,001 - $75,000
1%    $75,001 - $125,000
1.5%    $125,001 - $350,000
2%    $350,001 - $1,000,000
2.5%    $1,000,001 - $10,000,000
3.25%    $10,000,001 - $20,000,000
4%    $20,000,001-$70,000,000
5%   $70,000,001+

Sales Tax Rate: 5.7% (Groceries, prescription drugs exempt)

Excise Taxes:

Gas: 7 cents/gallon (10 cents/gallon for diesel).

Cigarettes: $1.60 per pack.
Other Tobacco Products: 55% Manufactures Price
Distilled Spirits: $2.70 per gallon
Wine: $0.30 per gallon
Beer: $0.20 per gallon
Marijuana: 25% sales tax

Projected Deficit: $32.01 B

Logged
Oldiesfreak1854
YaBB God
*****
Posts: 8807
United States


View Profile WWW
« Reply #169 on: August 15, 2012, 01:38:57 pm »
Ignore

I have some concerns about raising the sales tax, but I can't think of anything else to do.
Logged

Quote from: Dwight D. Eisenhower
There is nothing wrong with America that the faith, love of freedom, intelligence, and energy of her citizens cannot cure.
When I voted for the first time a few weeks ago, I announced "damnit, I voted for Pat Buchanan!" Nobody got it.
R2D2
20RP12
YaBB God
*****
Posts: 22524
Germany


Political Matrix
E: -7.94, S: -8.09

View Profile
« Reply #170 on: August 15, 2012, 02:14:03 pm »
Ignore

I have some concerns about raising the sales tax, but I can't think of anything else to do.

This, honestly.
Logged


i like girls but there is NOTHING better then a sexi hott dude
Oldiesfreak1854
YaBB God
*****
Posts: 8807
United States


View Profile WWW
« Reply #171 on: August 15, 2012, 03:04:53 pm »
Ignore

Do public employees pay anything into their pensions yet?  If not, then I'd like to introduce legislation regarding future public employees' pensions (that wouldn't affect current employees.)
Logged

Quote from: Dwight D. Eisenhower
There is nothing wrong with America that the faith, love of freedom, intelligence, and energy of her citizens cannot cure.
When I voted for the first time a few weeks ago, I announced "damnit, I voted for Pat Buchanan!" Nobody got it.
shua
YaBB God
*****
Posts: 11508
Russian Federation


Political Matrix
E: 2.06, S: -4.52

P P P
View Profile WWW
« Reply #172 on: August 15, 2012, 03:43:37 pm »
Ignore

Do public employees pay anything into their pensions yet?  If not, then I'd like to introduce legislation regarding future public employees' pensions (that wouldn't affect current employees.)
Yes, they pay quite a bit. That's a lot of what the "social insurance taxes" category is.
Logged

Pages: 1 2 3 4 5 6 [7] Print 
« previous next »
Jump to:  


Login with username, password and session length

Logout

Powered by SMF 1.1.19 | SMF © 2013, Simple Machines