Legislation Introduction Thread

[A18]

Yes indeed. Not excessive spending cuts.

Um, those three acts do not constitute roughly one half of the federal budget.

The only way your proposed tax cut would really work is if you abolished almost every non-military function of the government.

[A18]

Yeah. Now you only have to cut roughly 35% of the federal budget.

I would suggest a flat tax of 19%, allowing only for personal exemptions. This would ensure that the rich pay their fair share (no loopholes), lead the way for rapid economic growth, and likely shrink unemployment.

[A18]

The tax cuts could go at 25%. How does that sound?

That's still not low enough for the three bills you laid out.

A 19% income tax would cut taxes on the emerging upper class. I would suggest an exemption of about $35,000 for a family of four, only because it's a number very often cited in article such as Heritage and CATO.

More importantly, the rate could be lowered in future years to about 13%, as in Russia.

[A18]

The tax cuts could go at 25%. How does that sound?

That's still not low enough for the three bills you laid out.

A 19% income tax would cut taxes on the emerging upper class. I would suggest an exemption of about $35,000 for a family of four, only because it's a number very often cited in article such as Heritage and CATO.

More importantly, the rate could be lowered in future years to about 13%, as in Russia.

A18 should be the D3 Senator here...he at least has a brain.

We had that opportunity, but he didn't even get a single vote - not even from himself.

It's rare moments of brilliance like this that make me wonder if putting a troll in office might actually be worth it.

No, putting you in office would not be worth it.

[A18]

We did this in another thread, where we were discussing alternative tax systems for the United States. If taxes are at the same levels as in the United States:

http://www.wnjpin.net/OneStopCareerCenter/LaborMarketInformation/lmi10/tpi.htm
http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0

For 2004:
(total personal income)x = (income tax revenue + payroll tax revenue)
$9,672,205,074,000x = $1,542,400,000,000
x = 0.1595
x-> 0.16

Estate tax raises very little money as is, much less at a 16% rate, so exempting it is not a big change in net revenues at all. We're already abolishing it in real life without replacing it with another revenue source, and it'll do wonder for small business.

[A18]

Masterjedi is essentially calling for around a 400-500 billion revenue cut.  We'll have to keep that mind.

How? I gave you the numbers. It comes out to 16%.

[A18]

Masterjedi is essentially calling for around a 400-500 billion revenue cut.  We'll have to keep that mind.

How? I gave you the numbers. It comes out to 16%.

Average government revenue for a while has been roughly about 18% of GDP.

For example, if GDP is about 11 trillion, where it is presently, average government revenues are about 2 trillion at present.

His bill only replaces the current payroll and income taxes; not corporate taxes, excise taxes, or anything else.

It will raise the same amount of revenue that the United States government is generating from the income and payroll taxes each year. It hikes rates on interest and lower-to-middle income bracket capital gains, while slashing the tax on unearned income.

[A18]

Um, that's $32 billion.