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Author Topic: IDS Budget and Tax Committee  (Read 8071 times)
Yelnoc
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« Reply #225 on: May 08, 2011, 07:30:10 pm »
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2011 Budget
Notes
  • Base shall be understood to refer to the combined totals of the state governments minus Puerto Rico.
  • Total shall be understood to refer to the combined totals of the state and regional governments minus Puerto Rico.

Regional Spending
Pensions
-Base: $3.81 billion
-Total: $3.81 billion

Health care:
-Base: $121.9 billion
-Total: $121.9 billion

Education:
-Base: $48.9 billion (post-Educational Hotfix Act - original figure was $0, real-life gross state figure is $73.4 billion)
-Tertiary Education/Other Capital Outlay-Higher Education/Southeastern Educational Incentive Act: $3.5 billion
-Pre-Primary through Secondary Education/Other Capital Outlay - Elementary and Secondary Education/School Choice Initiative: $56.4 billion
-Total: $108.8 billion

Defense:
-Base: $0.6 billion
-Total: $0.6 billion

Welfare:
-Base: $40.4 billion
-Total: $40.4 billion

Protection:
-Base: $21.5 billion
-Total: $21.5 billion

Transportation:
-Base: $28.2 billion
-Total: $28.2 billion

General government:
-Base: $7.4 billion
-Total: $7.4 billion

Other spending:
-Base: $18.7 billion
-Cultural Services/Pentagram Creation Act: $200 million (1 time expense)
-Puerto Rico: $17.27 billion (total spending of PR- PR is not included in any other category in Spending but the Total Regional Spending)
-Total: $36.17 billion

Interest: $7.4 billion (assumes that Regional Government does not have to pay its own interest)

Total Regional Spending: $376.18 billion (includes Interest)


Regional Revenue
Income Taxes:
-Base: $0 (state cannot collect their own income taxes)
-Corporate Income Tax/Tax-Corporate Net Income/Put the "free" back in Free Enterprise Bill: (see personal income tax rate)
-Corporate Income Tax/Tax-Corporate Net Income/Southeast Nuclear Energy Initiative, Chapter 4: -66.1 million (-0.0661 billion)
-Corporate Tax Rate: 8.6% (part of Free Enterprise Bill above - remember other provisions).
-Personal Income Tax Rate: 5.8% ($$61,650,000,000/year)
-Total: $61,583,900,000 or $61.5839 billion

Social Security Taxes:  
-Base: $15.1 billion
-Total: $15.1 billion

Ad-valorem Taxes:
-Base: $252.3 billion
-Excise Taxes/Tax-Alcoholic Beverage Sales/Southeast Alcohol Initiative, Section 8: $1.3127 billion ($1.00/proof liter or $0.385/gallon for beer, $0.909/gallon for wine, $3.31/gallon for spirits)
-Excise Taxes/Tax-Tobacco Products Sales/Southeast Tobacco Initiative, Section 6:  $0.04/cigarette ($6,034,000,000/year), $0.08/cigar ($80,000,000/year), $2.00/kg tobacco ($24,000,000/year)
-Excise Taxes/Tax-Marijuana Products Sales: $3.00/ounce ($48,000,000/year)
-Sales Taxes/Tax-Public Utilities Sale/Southeast Nuclear Energy Initiative, Chapter 4: 80% of standard electricity excise tax: $0
-Sales Taxes/Tax-Public Utilities Sale/Southeast Biomass Initiative, Section 3: 80% of standard electricity excise tax: $0
-Property Taxes/Tax-Property/Southeast Nuclear Energy Initiative, Chapter 4: n/a ($0)
-Transportation/Tax-Motor Fuel Sales/Transportation Commission Initiative, Chapter 3, Section 22: $0.08/liter ($17,284,230,161/year)
-Transportation/Tax-Motor Vehicle License/Fair Consequences Initiative, Section 3: $10,700,000/year
-License/Tax-Other License/Off-Shore Religious Organizations Initiative, Section 2: n/a ($0)
-Total: $277,093,630,161 or $277.093630161 billion

Fees and Charges:
-Base: $107 billion
-Other/Charges-All Other/Pentagram Creation Act: $5,700,000/year
-Other/Charges-All Other/Safe Roads Initiative, Section 6: $44,400,000/year
-Total: $107,050,100,00 or $107.0501 billion

Business and Other Revenue:
-Base: $132.5 billion
-Puerto Rico: 24.96 billion
-Total: $157.46 billion

Gross Public Debt: $598.7 billion (assumes that Regional Government has not accumulated its own public debt)

Rainy Day Fund: $25 billion

Total Regional Revenue: $618,287,630,161 (does not include Gross Public Debt or Rainy Day Fund)


$Balance: 242,107,630,161
« Last Edit: May 08, 2011, 09:30:47 pm by SoIA Yelnoc »Logged

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Yelnoc
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« Reply #226 on: May 08, 2011, 08:07:24 pm »
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It is completed!!!  Hallelujah!  PiT and Badger, would you guys glance through it?  Unless you see any actual errors in my calculations, let's get this passed by the legislature before amending it to suit the region's policy.
« Last Edit: May 08, 2011, 08:15:39 pm by SoIA Yelnoc »Logged

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IDS Judicial Overlord PiT
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« Reply #227 on: May 08, 2011, 08:17:30 pm »
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     The revenue for fees & charges should be $107,050,100,000.
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Yelnoc
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« Reply #228 on: May 08, 2011, 08:29:51 pm »
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     The revenue for fees & charges should be $107,050,100,000.
Fixed.  Anything else?
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IDS Judicial Overlord PiT
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« Reply #229 on: May 08, 2011, 09:32:44 pm »
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     The revenue for fees & charges should be $107,050,100,000.
Fixed.  Anything else?

     No, everything seems to be added up correctly now.
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Yelnoc
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« Reply #230 on: May 08, 2011, 09:36:57 pm »
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     The revenue for fees & charges should be $107,050,100,000.
Fixed.  Anything else?

     No, everything seems to be added up correctly now.
Very good.  I sent Badger a PM; once he approves it the legislature can pass it and we can be done with it.
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Yelnoc
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« Reply #231 on: May 13, 2011, 02:21:11 pm »
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Badger said he was busy at work this week so no worries.  Just bumping this.
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Yelnoc
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« Reply #232 on: June 01, 2011, 11:44:36 am »
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This has my ok.  As the old speaker, would you guys do me a favor and pass it ASAP?
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IDS Judicial Overlord PiT
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« Reply #233 on: June 04, 2011, 09:27:22 am »
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     Didn't see this sooner. I'll take care of it right away.
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« Reply #234 on: January 01, 2012, 12:42:35 am »
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     I have compiled the 2012 budget. In doing so, however, I have obtained revenue numbers that were very different from those that we got last year. Nevertheless, here is the new budget, presented for inspection:

2012 Budget
Notes
  • Base shall be understood to refer to the combined totals of the state governments minus Puerto Rico.
  • Total shall be understood to refer to the combined totals of the state and regional governments minus Puerto Rico.

Regional Spending
Pensions
-Base: $35.8 billion
-Total: $35.8 billion

Health care:
-Base: $113.9 billion
-Total: $113.9 billion

Education:
-Base: $66.8 billion
-Tertiary Education/Other Capital Outlay-Higher Education/Southeastern Educational Incentive Act: $3.5 billion
-Total: $70.3 billion

Defense:
-Base: $0.7 billion
-Military Defense/IDS Militia Structure Act: $0.4365 billion
-Total: $1.1365 billion

Welfare:
-Base: $36.5 billion
-Total: $36.5 billion

Protection:
-Base: $21.0 billion
-Total: $21.0 billion

Transportation:
-Base: $30.1 billion
-Total: $30.1 billion

General government:
-Base: $6.7 billion
-Total: $6.7 billion

Other spending:
-Base: $20.5 billion
-Puerto Rico: $16.61 billion (total spending of PR- PR is not included in any other category in Spending but the Total Regional Spending)
-Total: $37.11 billion

Interest: $6.6 billion (assumes that Regional Government does not have to pay its own interest)

Total Regional Spending: $359.1465 billion (includes Interest)


Regional Revenue
Income Taxes:
-Base: $0 (state cannot collect their own income taxes)
-Corporate Income Tax/Tax-Corporate Net Income/Put the "free" back in Free Enterprise Bill: (see personal income tax rate)
-Corporate Income Tax/Tax-Corporate Net Income/Southeast Nuclear Energy Initiative, Chapter 4: -66.1 million (-0.0661 billion)
-Corporate Tax Rate: 8.6% (part of Free Enterprise Bill above - remember other provisions).
-Personal Income Tax Rate: 5.8% ($61,650,000,000/year)
-Total: $61,583,900,000 or $61.5839 billion

Social Security Taxes: 
-Base: $20.1 billion
-Total: $20.1 billion

Ad-valorem Taxes:
-Base: $140.0 billion
-Excise Taxes/Tax-Alcoholic Beverage Sales/Southeast Alcohol Initiative, Section 8: $1.3127 billion ($1.00/proof liter or $0.385/gallon for beer, $0.909/gallon for wine, $3.31/gallon for spirits)
-Excise Taxes/Tax-Tobacco Products Sales/Southeast Tobacco Initiative, Section 6:  $0.04/cigarette ($6,034,000,000/year), $0.08/cigar ($80,000,000/year), $2.00/kg tobacco ($24,000,000/year)
-Excise Taxes/Tax-Marijuana Products Sales: $3.00/ounce ($48,000,000/year)
-Sales Taxes/Tax-Public Utilities Sale/Southeast Nuclear Energy Initiative, Chapter 4: 80% of standard electricity excise tax: $0
-Sales Taxes/Tax-Public Utilities Sale/Southeast Biomass Initiative, Section 3: 80% of standard electricity excise tax: $0
-Property Taxes/Tax-Property/Southeast Nuclear Energy Initiative, Chapter 4: n/a ($0)
-Transportation/Tax-Motor Fuel Sales/Transportation Commission Initiative, Chapter 3, Section 22: $0.08/liter ($17,284,230,161/year)
-Transportation/Tax-Motor Vehicle License/Fair Consequences Initiative, Section 3: $10,700,000/year
-License/Tax-Other License/Off-Shore Religious Organizations Initiative, Section 2: n/a ($0)
-Total: $147,265,400,000 or $147.2564 billion

Fees and Charges:
-Base: $42.7 billion
-Other/Charges-All Other/Pentagram Creation Act: $5,700,000/year
-Other/Charges-All Other/Safe Roads Initiative, Section 6: $44,400,000/year
-Total: $42,750,100,000 or $42.7501 billion

Business and Other Revenue:
-Base: $87.9 billion
-Puerto Rico: $17.28 billion
-Total: $105.18 billion

Gross Public Debt: $382,028,869,839 (assumes that Regional Government has not accumulated its own public debt)

Rainy Day Fund: $35 billion

Total Regional Revenue: $376,870,400,000 (does not include Gross Public Debt or Rainy Day Fund)


Balance: $17,723,900,000
« Last Edit: January 03, 2012, 08:04:56 pm by Emperor PiT »Logged

IDS Judicial Overlord PiT
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« Reply #235 on: January 02, 2012, 04:44:08 pm »
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     No interest in the 2012 budget? Sad
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Mr. Taft Republican
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« Reply #236 on: January 03, 2012, 07:48:32 pm »
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Looking good bruh! Cheesy
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« Reply #237 on: January 04, 2012, 01:32:14 am »
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Looking good bruh! Cheesy
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President John Hay
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« Reply #238 on: January 04, 2012, 02:23:46 am »
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Ok by me
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Yelnoc
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« Reply #239 on: January 04, 2012, 06:28:46 pm »
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I guess it's fine.  I have a vague feeling we're missing something, but I guess with no reality to bite us in the ass it works.  And I'm tired.  So let's pass it.
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« Reply #240 on: January 05, 2012, 01:50:58 am »
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You have a positive balance?! 
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IDS Judicial Overlord PiT
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« Reply #241 on: January 05, 2012, 03:04:28 am »
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You have a positive balance?! 

     We've passed very few expenditures over the years.
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« Reply #242 on: January 05, 2012, 09:19:56 pm »
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Can I move to give surplus to taxpayers in the form of rebate?
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IDS Judicial Overlord PiT
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« Reply #243 on: January 05, 2012, 09:31:19 pm »
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Can I move to give surplus to taxpayers in the form of rebate?

     Well, the Legislature is currently debating the adoption of this proposed budget. After that, there should be no issue with doing that, or considering another course of action. I know Yelnoc suggested eliminating fuel taxes.
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« Reply #244 on: January 05, 2012, 10:41:59 pm »
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Where is the debate on the adoption of the budget? I am lost...
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Yelnoc
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« Reply #245 on: January 06, 2012, 12:08:25 pm »
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Where is the debate on the adoption of the budget? I am lost...
In the thread legislature trhead.  And I thought the proposed 2012 budget had already eliminated fuel taxes.
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IDS Judicial Overlord PiT
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« Reply #246 on: January 06, 2012, 02:31:33 pm »
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     It did not because the Legislature did not. The Budget reflects current law.
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