NB: The Budget (November 2016 - February 2017)

[Wells]

So I noticed this wasn't introduced yet, and here are the numbers:

You must be logged in to read this quote.

The expenditure numbers are official, the tax rates are proposed, and the revenue numbers are to be determined. If anyone wants to put in their own proposed edits or support of this specific budget then go ahead.

[Blair]

Great to see that the North has published a budget; this is the type of activity we need. As a unemployed Northern citizen I'll be wanting to help in anyway possible

[The world will shine with light in our nightmare]

Don't forget to include the pot tax.  Also, the Northern Constitution does not allow for deficits.  Just a reminder.

Glad to see the Assembly getting started on this.

[Clyde1998]

Also, the Northern Constitution does not allow for deficits.  Just a reminder.

Really? Given the current economic climate that seems a bit risky.

[Unconditional Surrender Truman]

Also, the Northern Constitution does not allow for deficits.  Just a reminder.

This is correct.

You must be logged in to read this quote.

[Grumpier Than Thou]

So I'm not at all good with numbers, but do we know anyone who can calculate revenue, and also tell us where we could trim some of the fat within the expenditures themselves? Perhaps cuts to "general govt" as well as "other"?

[The world will shine with light in our nightmare]

Also, the Northern Constitution does not allow for deficits.  Just a reminder.

Really? Given the current economic climate that seems a bit risky.

I offered that amendment to the region's Constitution because, in practice, the federal government is more suited to run deficits in times of economic crisis than regions and states are.  (Every state in the country except Vermont requires balanced budgets, if I'm not mistaken.)  Plus if the region were ever to end up in a situation that required a federal bailout of some kind, we'd probably have to negotiate making massive spending cuts and tax increases at the expense of the North's economy.  So that's why it's included.

Also, would you be able to crunch the numbers for us, or would you prefer deferring to GM Kalwejt on this?

[The world will shine with light in our nightmare]

By the way, a delegate should at least amend the budget outline to include the pot tax that was passed.  Those tend to bring in lots of revenue to states that have it, so it will have a significant effect on the final figures.

[Wells]

By the way, a delegate should at least amend the budget outline to include the pot tax that was passed.  Those tend to bring in lots of revenue to states that have it, so it will have a significant effect on the final figures.

I've added it now.

[Grumpier Than Thou]

Am I the only one thinking that the income taxes should be significantly higher for every bracket other than the very bottom one?

[Wells]

Am I the only one thinking that the income taxes should be significantly higher for every bracket other than the very bottom one?

What would your numbers be?

[Grumpier Than Thou]

Am I the only one thinking that the income taxes should be significantly higher for every bracket other than the very bottom one?

What would your numbers be?

Probably something along the lines of:

0%    $0 - $24,999
3%    $25,000 - $49,999
6.5%    $50,000 - $99,999
10.5%    $100,000 - $249,999
18.25%   $250,000 - $999,999
28.5%   $1,000,000+

[Clyde1998]

Also, the Northern Constitution does not allow for deficits.  Just a reminder.

Really? Given the current economic climate that seems a bit risky.

I offered that amendment to the region's Constitution because, in practice, the federal government is more suited to run deficits in times of economic crisis than regions and states are.  (Every state in the country except Vermont requires balanced budgets, if I'm not mistaken.)  Plus if the region were ever to end up in a situation that required a federal bailout of some kind, we'd probably have to negotiate making massive spending cuts and tax increases at the expense of the North's economy.  So that's why it's included.

Also, would you be able to crunch the numbers for us, or would you prefer deferring to GM Kalwejt on this?

That's okay - I didn't realise that the states had that clause, IRL.

I'd be happy to do them; I based the initial figures on real life (as this is the first budget since the reset), so it doesn't necessarily require any GM input if it's not required.

[/]

Very much agreed.

[Wells]

If anyone else wants to propose other tax rates or endorse mine, they can.

[The world will shine with light in our nightmare]

Don't forget about this, folks.

[/]

I think it looks good, honestly.

[Grumpier Than Thou]

We still need numbers for how much revenue we're supposed to bring in. We can't have a deficit.

[Clyde1998]

Just to confirm, I am still looking at the numbers. I should, hopefully, have estimates for the tax plans in the next few days.

[Grumpier Than Thou]

Just to confirm, I am still looking at the numbers. I should, hopefully, have estimates for the tax plans in the next few days.

Thank you!

[Maxwell]

I assume in the revenue estimate we'll get some specified numbers for the sales tax - I want to tinker the budget proposal in order to make some headway on one of my campaign promises!

[The world will shine with light in our nightmare]

Swear in so we can get back to work on this, guys.

[Maxwell]

Clyde did you ever get to those revenue estimates?

[Clyde1998]

Clyde did you ever get to those revenue estimates?

I'm having difficulty finding accurate breakdowns of tax revenues, in real life, to base estimates off of.

What I have so far is:

Sales Tax - $37.705bn
Property Tax - $11.379bn
Gas Tax - $5.037bn
Diesel Tax - $0.520bn
Marijuana Tax - $0.459bn

[Maxwell]

Thanks!