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| | |-+  SENATE BILL: WHITE HOUSE BUDGET PROPOSAL (On the President's Desk)
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Author Topic: SENATE BILL: WHITE HOUSE BUDGET PROPOSAL (On the President's Desk)  (Read 9465 times)
LastVoter
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« Reply #75 on: June 02, 2012, 04:53:59 pm »
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I would like to offer two amendments
Quote
Income Taxes
1M+              60%
This one needs no explanation
Quote
Gasoline Tax (20 cents/gallon)
33 billion is spent for highways, gas tax at 12c only brings in 20 billion, I don't think we should be subsidizing them.
Hello there....
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Senator North Carolina Yankee
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« Reply #76 on: June 02, 2012, 06:48:55 pm »
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Nay, simply because it is a substantial threshold to cross, without compensatory changes attached to the actually spending increase.


Vote on Amendment 49:19:

Aye (7): AndrewPA, Ben, ILV, sbane, Scott, and TJ in Cleve
Nay (2): NC Yankee, and Wormyguy
Abstain (0):

Didn't Vote (1): Clarence

With seven votes in the affirmative, the amendment has passed.

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Senator North Carolina Yankee
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« Reply #77 on: June 02, 2012, 06:57:04 pm »
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Quote from: Amendment 49:21 by Seatown
Income Taxes
1M+              60%

Sponsor Feedback: Uncertain Response
Status: Awaiting Clarification


Quote from: Amendment 49:22 by Seatown
Gasoline Tax (20 cents/gallon)

Sponsor Feedback: Uncertain Response
Status: Awaiting Clarificaiton

Quote from: Amendment 49:23 by Scott
Income Taxes
 9.5K-35K     13%10%          
 35K-80K      24%21%

 1M-2.5M     50%52%        
 2.5M+        60%61%

Sponsor Feedback: No Response found within the timeout period
Status: Error, please enter response ASAP!!!
« Last Edit: June 05, 2012, 06:12:57 pm by Senator North Carolina Yankee »Logged

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shua
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« Reply #78 on: June 02, 2012, 07:52:25 pm »
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64% of that increase in net spending is the result of the current amendment at vote, 49:19. 
Yes, the amendment I oppose.

I'd like to see the changes from the last budget.

Also, Shua, that reminds me that I am going to need your help with the regional budget when you get a chance. Wink

I have discussed some of the major changes in my penultimate post in the GM update thread.  I think it'd be great if the President can provide more details here, though I may try to as well.

I'll be glad to help with your regional budget, but I'll have more of a chance after this budget bill is squared away.

This will cost us a considerable amount of tax revenue (about $150 B by my quick calculations) since so many more people pay the lower brackets.
It will cost some, but I don't think anywhere near that much. I can do the calculations once I finish the ones I'm doing for Ben.
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« Reply #79 on: June 02, 2012, 11:42:26 pm »
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Friendly on 49:22, unfriendly on 49:21 and 49:23.

I've got a tax Amendment dealing with corporate rates and income which will add at least $50B, so if we could please hold off on income and corporate rates until then, it'd be much appreciated.
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« Reply #80 on: June 03, 2012, 12:55:59 am »
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Friendly on 49:22, unfriendly on 49:21 and 49:23.

I've got a tax Amendment dealing with corporate rates and income which will add at least $50B, so if we could please hold off on income and corporate rates until then, it'd be much appreciated.
Ok we'll proceed with 49:22 and I'll wait on 49:21, and 23 is your child(so you specified the sponsor of the amendment incorrectly Yankee). Does this count as sufficient response?
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« Reply #81 on: June 03, 2012, 12:55:49 pm »
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For now, I will withdraw my amendment.  I still think we need to cut taxes on the lowest income group, but I would like to see what Ben has to offer first.
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« Reply #82 on: June 03, 2012, 05:06:31 pm »
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Here's my Amendment related to income and corporate taxes, resulting in a net increase of $35.5B from the original.

Quote
Income Taxes:   $ 1,466.3 1,459.9 B                  
 by tax bracket                   
9.5K-35K     13 10 %          65.8 50.7 B                  
 35K-80K      24 23%        224.2 192.8 B                  
 80K-170K    28 30%        250.1 240.6 B                  
 170K-368K  35 36%        239.8 243.2 B                  
 368K-1M     40 43%        214.7 224.4 B                  
 1M-2.5M     50 57%        175.2 190.1 B                   
 2.5M+        60 64%        296.5 318.1 B                   
                  
Corporate Taxes:  $ 378.7 429.6 B                    
 rates                  
 0-50K          12 10%                   
 50-75K         23 21%                      
 75K-100K     30 27%                  
 100K-335K    31%                     
 335K-10M     33%                  
 10M-15M      34 38%                  
 15M+           35 44%
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« Reply #83 on: June 03, 2012, 05:12:15 pm »
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$44.5 B actually. ( of course, those numbers are just estimates)
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« Reply #84 on: June 03, 2012, 05:25:50 pm »
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Here's my Amendment related to income and corporate taxes, resulting in a net increase of $35.5B from the original.

Quote
Income Taxes:   $ 1,466.3 1,459.9 B                  
 by tax bracket                   
9.5K-35K     13 10 %          65.8 50.7 B                  
 35K-80K      24 23%        224.2 192.8 B                  
 80K-170K    28 30%        250.1 240.6 B                  
 170K-368K  35 36%        239.8 243.2 B                  
 368K-1M     40 43%        214.7 224.4 B                  
 1M-2.5M     50 57%        175.2 190.1 B                   
 2.5M+        60 64%        296.5 318.1 B                   
                  
Corporate Taxes:  $ 378.7 429.6 B                    
 rates                  
 0-50K          12 10%                   
 50-75K         23 21%                      
 75K-100K     30 27%                  
 100K-335K    31%                     
 335K-10M     33%                  
 10M-15M      34 38%                  
 15M+           35 44%

-----------------------

How high can taxes be raised on the wealthy before the law of diminishing returns kicks in? 
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Carlos Danger
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« Reply #85 on: June 03, 2012, 05:32:35 pm »
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How high can taxes be raised on the wealthy before the law of diminishing returns kicks in?

Up to 100%, since Shua isn't factoring in Laffer Curve effects (which is silly, IMO).
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« Reply #86 on: June 03, 2012, 05:44:43 pm »
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$44.5 B actually. ( of course, those numbers are just estimates)

Even better Cheesy

And Frodo, I'd argue not much higher than the 64% we're at now.  The historic peacetime high was 79% in 1936, and that was for people making $80.7M.
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« Reply #87 on: June 03, 2012, 06:27:57 pm »
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Quote from: Amendment 49:21 by Seatown
Income Taxes
1M+              60%

Sponsor Feedback: Friendly
Status: Senators have 24 hours to object

Quote from: Amendment 49:22 by Seatown
Gasoline Tax (20 cents/gallon)

Sponsor Feedback: Hostile
Status: On hold per request of sponsor

Quote from: Amendment 49:23 by Scott
Income Taxes
 9.5K-35K     13%10%          
 35K-80K      24%21%

 1M-2.5M     50%52%        
 2.5M+        60%61%

Sponsor Feedback: Friendly
Status: Withdrawn
« Last Edit: June 05, 2012, 06:13:50 pm by Senator North Carolina Yankee »Logged

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« Reply #88 on: June 03, 2012, 06:32:52 pm »
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Quote from: Amendment 49:24 by Ben
Income Taxes:   $ 1,466.3 1,459.9 B                  
 by tax bracket                   
9.5K-35K     13 10 %          65.8 50.7 B                  
 35K-80K      24 23%        224.2 192.8 B                  
 80K-170K    28 30%        250.1 240.6 B                  
 170K-368K  35 36%        239.8 243.2 B                  
 368K-1M     40 43%        214.7 224.4 B                  
 1M-2.5M     50 57%        175.2 190.1 B                   
 2.5M+        60 64%        296.5 318.1 B                   
                  
Corporate Taxes:  $ 378.7 429.6 B                    
 rates                  
 0-50K          12 10%                   
 50-75K         23 21%                      
 75K-100K     30 27%                  
 100K-335K    31%                     
 335K-10M     33%                  
 10M-15M      34 38%                  
 15M+           35 44%


Sponsor Feedback: Origination
Status: Senators have 24 hours to object.
« Last Edit: June 05, 2012, 06:11:01 pm by Senator North Carolina Yankee »Logged

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« Reply #89 on: June 03, 2012, 06:48:10 pm »
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Yank, 49:22 was friendly; 49:21 was not.
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« Reply #90 on: June 03, 2012, 06:52:16 pm »
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Yank, 49:22 was friendly; 49:21 was not.

WHY CAN'T YOU DO STUFF IN NUMERICAL ORDER?!!!! This is all your fault!!!! Tongue
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« Reply #91 on: June 03, 2012, 06:54:05 pm »
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Quote from: Amendment 49:21 by Seatown
Income Taxes
1M+              60%

Sponsor Feedback: Hostile
Status: On hold by request of the Amendment Sponsor

Quote from: Amendment 49:22 by Seatown
Gasoline Tax (20 cents/gallon)

Sponsor Feedback: Friendly
Status: Senators have 24 hours to object

Quote from: Amendment 49:23 by Scott
Income Taxes
 9.5K-35K     13%10%          
 35K-80K      24%21%

 1M-2.5M     50%52%        
 2.5M+        60%61%

Sponsor Feedback: Friendly
Status: Withdrawn
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Carlos Danger
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« Reply #92 on: June 03, 2012, 07:01:07 pm »
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Object
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« Reply #93 on: June 03, 2012, 07:05:27 pm »
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Object

To which one?
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« Reply #94 on: June 03, 2012, 07:11:23 pm »
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Quote from: Amendment 49:22 by Seatown
Gasoline Tax (20 cents/gallon)

Sponsor Feedback: Friendly
Status: Objection entered by Senator Wormyguy, Vote pending.


I need to leave soon, so this may have to wait till tomorrow. 
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« Reply #95 on: June 03, 2012, 07:13:10 pm »
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Aye.
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« Reply #96 on: June 03, 2012, 07:16:59 pm »
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Aye.

This bill doesn't have a vote on it at present.
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« Reply #97 on: June 03, 2012, 07:21:40 pm »
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Aye.

This bill doesn't have a vote on it at present.

Oh, my mistake.
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SJoyce of Harrenhal
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« Reply #98 on: June 03, 2012, 07:27:13 pm »
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Now there's a campaign ad: "Senator Scott is so liberal he voted for more spending and taxation, even when it wasn't possible to do so!" At least it would be an ad, if you weren't running against a socialist Tongue
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« Reply #99 on: June 03, 2012, 07:27:39 pm »
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Now there's a campaign ad: "Senator Scott is so liberal he voted for more spending and taxation, even when it wasn't possible to do so!" At least it would be an ad, if you weren't running against a socialist Tongue

Derp.
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