Midwest 2014 Budget (Vote)

[windjammer]

You must be logged in to read this quote.

Sponsor: Windjammer

[Maxwell]

I think we need to reform our corporate tax code, so that the Midwest is more competitive:

You must be logged in to read this quote.

If there's room in the budget, I will also propose Income Taxes and possibly even property taxes.

[windjammer]

You must be logged in to read this quote.

My amendment: I would like to eliminate Sales Tax and let a $10B surplus. With this surplus, we could write expensive laws.

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

I think we need to reform our corporate tax code, so that the Midwest is more competitive:

You must be logged in to read this quote.

If there's room in the budget, I will also propose Income Taxes and possibly even property taxes.

Well, I'm not hostile to reform Corporate Tax, though I remain sceptical. However, I'm hostile to lower Income Taxes because Income Taxes have already been lowered.

Cris, Arturo, GAworth, who would like to sponsor Maxwell's amendment?

[Maxwell]

I would back away from a Property Tax decrease if we cut Sales Tax a good amount along with my Corporate Tax Reform.

[GAworth]

I would like to leave around $25 Billion or so in surplus, I would like to have a cushion for new bills.
I would like to exempt income tax for people under $50,000 heck maybe even up to $100,000. That is my suggestion.

[Maxwell]

I would like to leave around $25 Billion or so in surplus, I would like to have a cushion for new bills.
I would like to exempt income tax for people under $50,000 heck maybe even up to $100,000. That is my suggestion.

I no longer have a say in all this, but I think the Midwest has helped the poor in a large way, and I think we should start using tactics in our tax code that will help employment in the other direction. The nation as a whole has a much more competitive tax code than we did before in terms of the corporate rate, and I think the Midwest needs to follow suit.

[GAworth]

I would like to leave around $25 Billion or so in surplus, I would like to have a cushion for new bills.
I would like to exempt income tax for people under $50,000 heck maybe even up to $100,000. That is my suggestion.

I no longer have a say in all this, but I think the Midwest has helped the poor in a large way, and I think we should start using tactics in our tax code that will help employment in the other direction. The nation as a whole has a much more competitive tax code than we did before in terms of the corporate rate, and I think the Midwest needs to follow suit.

True, but maybe we could see the exemption raised for companies under $500,000 and raise the income tax exemption up to $50,000. I think that could be a good idea.

[Maxwell]

I would like to leave around $25 Billion or so in surplus, I would like to have a cushion for new bills.
I would like to exempt income tax for people under $50,000 heck maybe even up to $100,000. That is my suggestion.

I no longer have a say in all this, but I think the Midwest has helped the poor in a large way, and I think we should start using tactics in our tax code that will help employment in the other direction. The nation as a whole has a much more competitive tax code than we did before in terms of the corporate rate, and I think the Midwest needs to follow suit.

True, but maybe we could see the exemption raised for companies under $500,000 and raise the income tax exemption up to $50,000. I think that could be a good idea.

How about the income tax exemption for up to the poverty line for a family of 5, which is about $30,000? I'm not sure we should cut out the base entirely, but this is a good negotiation to have.

As for companies, that's a good idea, but again, $500,000 may not be the best. I will make something up right here:

You must be logged in to read this quote.

You must be logged in to read this quote.

If some kind Althinger wants to endorse these, that would be great.

[GAworth]

I would like to leave around $25 Billion or so in surplus, I would like to have a cushion for new bills.
I would like to exempt income tax for people under $50,000 heck maybe even up to $100,000. That is my suggestion.

I no longer have a say in all this, but I think the Midwest has helped the poor in a large way, and I think we should start using tactics in our tax code that will help employment in the other direction. The nation as a whole has a much more competitive tax code than we did before in terms of the corporate rate, and I think the Midwest needs to follow suit.

True, but maybe we could see the exemption raised for companies under $500,000 and raise the income tax exemption up to $50,000. I think that could be a good idea.

How about the income tax exemption for up to the poverty line for a family of 5, which is about $30,000? I'm not sure we should cut out the base entirely, but this is a good negotiation to have.

As for companies, that's a good idea, but again, $500,000 may not be the best. I will make something up right here:

You must be logged in to read this quote.

You must be logged in to read this quote.

If some kind Althinger wants to endorse these, that would be great.

I am not sure. I for one don't know even about lowering taxes to terribly much. But I do see the excellent points you are making. I will mull the idea over.

[sentinel]

Corporate taxes? We have no such thing in the North.

[Maxwell]

Corporate taxes? We have no such thing in the North.

We could afford a full blown elimination of corporate taxation in our region, but I'm not sure that'll fly with the current representation. And I'm fine with progress, assuming we take these steps. Plus I'm sure the Northeast makes up for revenue elsewhere, may it be from other sources or the fact that the Northeast is just a bigger economy than the Midwest.

[Sec. of State Superique]

You should take out this corporate tax...

[Maxwell]

We could get rid of the Corporate Tax, and then cut some spending in some areas.

[GAworth]

I would like to hear what the other members of the legislature have to say about this before I finally make my mind up.

[windjammer]

We could get rid of the Corporate Tax, and then cut some spending in some areas.

No way the  Midwest Budget will be cut with a such surplus. And I oppose eliminating the Corporate Tax.
-----------------------
I will ask Averroes to make an estimation about your proposals.

My amendment for Income Tax rate:
Midwest 2014 budget
Income Tax Rate:

You must be logged in to read this quote.

[windjammer]

Well, I will sponsor Maxwell's amendments because I want them to be debates. But I oppose his corporate tax reform, because I believe it's not necessary ( see Midwest unemployment). I would prefer to lower income tax rates for the poors and to lower Midwest sales tax.
I oppose any Midwest budget cut. And we should keep a big stimulus because we will be able to create progressive bills!

[windjammer]

And creating jobs could be made by the Midwest, and not only by companies!!!

[Arturo Belano]

I'm very opposed spending cuts at the moment and I believe that the corporate tax rate should be left alone for now. Given our current surplus, we can certainly afford small spending increases, particularly in school aid and economic development. As others have stated, I also support the idea of increasing the tax exemption to $50,000. I'm not quite sure on lowering the estate tax, windjammer, but I could be convinced into supporting your idea.

[windjammer]

I'm very opposed spending cuts at the moment and I believe that the corporate tax rate should be left alone for now. Given our current surplus, we can certainly afford small spending increases, particularly in school aid and economic development. As others have stated, I also support the idea of increasing the tax exemption to ti$50,000. I'm not quite sure on lowering the estate tax, windjammer, but I could be convinced into supporting your idea.

              oups i wanted to say sales tax

[GAworth]

I think we can maybe cut corporate tax at a later time, the first I would like to do is change the income tax to $0.00-$50,000 0%. However, I am not against extending the corporate tax exemption to $250,000 because those are mostly small businesses. Although I would like a cost analysis, because I want to leave ideally $20 Billion for spending increases and other programs to come. I can also possibly get behind a sales tax reduction, but again I would like a cost estimate.

[Maxwell]

Cutting the corporate hardly costs a lot, and would have more benefit than not in terms of who comes into the Midwest. Regardless, I think maybe a slighter cut then the one I have is fine, and I would be happy with raising the exemption so that smaller businesses can work. Combined with cutting sales taxes and income taxes, I think we can get a good piece of work done, and still have enough revenue for increasing spending in certain areas.

[GAworth]

Cutting the corporate hardly costs a lot, and would have more benefit than not in terms of who comes into the Midwest. Regardless, I think maybe a slighter cut then the one I have is fine, and I would be happy with raising the exemption so that smaller businesses can work. Combined with cutting sales taxes and income taxes, I think we can get a good piece of work done, and still have enough revenue for increasing spending in certain areas.

I agree it will not cost that much, hopefully. However, I would like to see a cost analysis of all of the proposals, that way we can see what we are working with.

[Maxwell]

Cutting the corporate hardly costs a lot, and would have more benefit than not in terms of who comes into the Midwest. Regardless, I think maybe a slighter cut then the one I have is fine, and I would be happy with raising the exemption so that smaller businesses can work. Combined with cutting sales taxes and income taxes, I think we can get a good piece of work done, and still have enough revenue for increasing spending in certain areas.

I agree it will not cost that much, hopefully. However, I would like to see a cost analysis of all of the proposals, that way we can see what we are working with.

I tested some proposals I would be okay with, and I will see what the GM comes back with.

[Lumine]

For the record, I would be open to accept lowering the corporate tax, but only after the GM analysis proves that Maxwell's proposal would be able to cut those taxes without hurting our surplus too much. The Midwest economy is doing great at this precise minute, but we are still in the middle of a recovery and we will need further stimulus, hence why I think cutting taxes would be a little bit irresponsible.

Again, economic policy is not my best area, so I won't be offering many specific changes, but I stand with GAworth's idea of a 25 billion surplus. I also want to propose an increase in Environment & Energy of at least 2-5 billion (mostly for updating the our current energy infrastructure). If oil prices keep going up, we are going to need further investment in that area.

[Senator Cris]

For the record, I would be open to accept lowering the corporate tax, but only after the GM analysis proves that Maxwell's proposal would be able to cut those taxes without hurting our surplus too much. The Midwest economy is doing great at this precise minute, but we are still in the middle of a recovery and we will need further stimulus, hence why I think cutting taxes would be a little bit irresponsible.

Again, economic policy is not my best area, so I won't be offering many specific changes, but I stand with GAworth's idea of a 25 billion surplus. I also want to propose an increase in Environment & Energy of at least 2-5 billion (mostly for updating the our current energy infrastructure). If oil prices keep going up, we are going to need further investment in that area.

Honestly, I haven't a right esperience on this questions, but I think that the Governor's proposal is good.