SC: The South Budget 2016 (Statute)

[Associate Justice PiT]

     I would like to thank Speaker Siren for bringing this to the Chamber floor. There are still a couple of recent bills that need to be added to this. I welcome any questions or comments on this budget.

[Associate Justice PiT]

     The amounts are based on the sums of tax revenue for the states comprising the South. As such, the answer to the social security tax question is a complicated one. Likewise, the effects of a low income tax exemption are also complicated, though one that a GM could give us a straight answer for. I would be fine with that, myself; the current budget calls for a 5% flat tax, which was Delegate dfw's suggestion.

[Associate Justice PiT]

     While I do support open carry, I would prefer that other bills not be held up for its sake. Particularly something as important as the budget.

[Associate Justice PiT]

     It might be worth re-evaluating the region's base income tax percentage. It was 3.35% before, but that was in the old South with half as many states. It may be diferent now.

[Associate Justice PiT]

     It is complicated. We needed to estimate what the income tax rates of the region averaged out to, so we could know how any given rate (5.8% under the old regime) compared to the IRL numbers that we compiled. That average of all income taxes in the region came out to be 3.35%.

     I used that percentage again. However, since we have many more states now we should probably re-evaluate that average percentage.

[Associate Justice PiT]

     I don't know. We asked the GM for this estimate the first time.

[Associate Justice PiT]

     I think I'll try my hand at computing a new tax basis. It shouldn't be too hard in Excel. Aside from that, I think we should be good to go with this.

[Associate Justice PiT]

     I recomputed the average income tax rate and it came out to 3%. I'll revise the numbers to reflect this and then we can move to a final vote.

[Associate Justice PiT]

     Here is the updated version:

You must be logged in to read this quote.

[Associate Justice PiT]

     Wonderful!

     X PiT, South Governor