MA: Mideast Budget 2012 (Debating)

[Oldiesfreak1854]

I second A-Bob's statements. A balanced budget is ideal, but we can't gut our government.

Thirded.

[Queen Mum Inks.LWC]

Did nobody read what I said?

[ZuWo]

If we want to do away with some of the tax expenditures/tax cuts in order to move closer to a balanced budget we need concrete suggestions.

We could, for example, reduce tax deductions for charitable contributions (these tax exemptions currently account for $3.62 billion of our budget). We could also cut the so-called R&D (Research & Development) tax breaks for corporations (they make up $7.0 billion of the budget). If you don't like that feel free to put forward your own ideas.

[Oldiesfreak1854]

If we want to do away with some of the tax expenditures/tax cuts in order to move closer to a balanced budget we need concrete suggestions.

We could, for example, reduce tax deductions for charitable contributions (these tax exemptions currently account for $3.62 billion of our budget). We could also cut the so-called R&D (Research & Development) tax breaks for corporations (they make up $7.0 billion of the budget). If you don't like that feel free to put forward your own ideas.

I really don't know which expenditures/cuts to do that with.

[ZuWo]

GM shua has informed me that the higher beer taxes generates an additional revenue of $150 million. That's not much more than a drop in the ocean. In fact, our debt is still at $32 billion even with this small tax hike.

[Lambsbread]

GM shua has informed me that the higher beer taxes generates an additional revenue of $150 million. That's not much more than a drop in the ocean. In fact, our debt is still at $32 billion even with this small tax hike.

Maybe we could cut a little bit from a certain area? I'd like to cut a bit from our education spending.

[tmthforu94]

GM shua has informed me that the higher beer taxes generates an additional revenue of $150 million. That's not much more than a drop in the ocean. In fact, our debt is still at $32 billion even with this small tax hike.

Maybe we could cut a little bit from a certain area? I'd like to cut a bit from our education spending.

That's one area I'd personally rather not see touched, considering the strain schools are already in, but it's you guys who vote.

[HappyWarrior]

I won't accept any bill with education cuts.

[Lambsbread]

How about energy and Government cuts?

[ZuWo]

I propose the following amendment (what A-Bob and shua said makes sense; it's hard to cut a lot of money in the "Spending" part but we have room to cut some of the tax breaks):

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[Lambsbread]

This isn't necessarily "raising taxes," it's cutting tax breaks we don't need to try and balance the budget. I'm in favour so far.

[ZuWo]

This isn't necessarily "raising taxes," it's cutting tax breaks we don't need to try and balance the budget. I'm in favour so far.

Even if what I'm proposing is not a direct spending cut, proposals such as my amendment always hurt. For instance, if there is a smaller tax break for charitable contributions some people may be less inclined to give to charity. But that's the price we have to pay for a more balanced budget - I'm not necessarily talking about a completely balanced budget anymore. It seems that we will end up with some sort of deficit but I want that deficit to be as small as possible.

[MyRescueKittehRocks]

I won't accept any bill with education cuts.

I'm gonna have to agree with HappyWarrior on this one. It's important that regional government wisely handles matters concerning education delicately.

[Oldiesfreak1854]

I won't accept any bill with education cuts.

I'm gonna have to agree with HappyWarrior on this one. It's important that regional government wisely handles matters concerning education delicately.

I second both your statement and HappyWarrior's.

[ZuWo]

Believe me, I don't want to cut education spending but we might have to do it if we want to avoid a deficit because the education is a huge part of the budget. It is easy to say "I don't want spending cuts in this area etc." but it's more difficult to make concrete suggestions. If you are fine with a $28, 29 or 30 billion deficit I can live with that. If not, you are free to put forward a concrete plan to reduce the deficit.

I for my part have made a concrete amendment and I am looking forward to your comments.

[California8429]

I won't accept any bill with education cuts.

I'm gonna have to agree with HappyWarrior on this one. It's important that regional government wisely handles matters concerning education delicately.

I second both your statement and HappyWarrior's.

While the Assembly is in control of the budget, I would like to point out that this budget already, if I remember correctly, attributes more spending to education than RL.

And yes Inks, I understand what you're saying now.

[California8429]

It would take the cutting of most tax credits though to balance the budget. Considering most tax credit values are around $500 million, scattered throughout, it is difficult to attain the balanced budget without complete eliminations.

[Queen Mum Inks.LWC]

I'll bring the following amendment to a vote.  Members will vote AYE, NAY, or ABSTAIN.  This will be a 24-hour vote.

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[Queen Mum Inks.LWC]

AYE

[ZuWo]

I once again urge the members of the Assembly to vote AYE on this amendment. By approving this amendment, we can cut the deficit to roughly $27 billion. Still too high, but undoubtedly better.

[Lambsbread]

Aye

Also, the bill that introduced that taxes lottery winnings ought to bring some money back into the system.

[ZuWo]

I've got a new amendment for you if the current amendment gets passed.

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[🐒Gods of Prosperity🔱🐲💸]

ZuWo, if you tax those "tax free bonds" at half rate,  they're no longer tax free

the same applies with "exclusion of net imputed rental income"

[ZuWo]

Thanks for pointing that out. I'll correct these errors.

[HappyWarrior]

AYE