Pacific Legislature Official Thread

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What are the current tax rates? How progressive are the tax rates already?

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Pacific Deficit Reduction Act

1. The income tax rate on the bracket created by the Income Tax Increase Act will be raised by 3.5%.
2. The income tax rate on incomes exceeding $300,000 will be raised by 2%.
3. The provisions in this Act shall take effect on the 15th of October.

Nay

Are we even voting on these next two? Well here's how I would vote.

Abolition of Life Imprisonment Without the Possibility of Parole Act
1. The possible sentence of life imprisonment without the possibility of parole is hereby abolished.
2. Statute outlining the sentence abolished above shall be amended to read "life imprisonment with the possibility of parole after twenty years."

NAY

Alkyl Nitrites Deregulation Act
1. Any regional and local laws to prohibit the sale, possession, consumption, distribution, or manufacture of alkyl nitrites ("poppers") are repealed.
2. Sale of alkyl nitrites to persons under the age of 18 will remain illegal.

AYE

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What are the current tax rates? How progressive are the tax rates already?

The tax rate being referred into in the first clause is a tax of 45.5% on income exceeding $50 million.

And what is the existing tax rate for income exceeding $300,000? Or is there nothing specified? Anyways I would still vote no. I would be interested in raising the estate tax though.

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Sustainable Pacifican Cities Bill
X Sbane

Oceania Incorporation Bill
X Sbane

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The 90% Tax Act.
1. This act reaffirms the right of the region to set it's own taxes at whatever levels it feels best for it's own taxpayers.

2. No form of taxation, be it income, corporate, or sales, can add to, when federal taxes are considered, over 90%. Federal numbers are taken as base numbers with Regional numbers added to this. In the event that regional taxes would push this number over 90%, the regional tax is then capped so that the new total of regional and federal taxes totals 90%.

3. The Governor may propose a referendum for repeal of this act if he or she has sufficient reason to believe the Federal government is taking advantage of this act to, in some way, harm the Pacific region.

This will fix the problem noted some time ago where our Regional and Federal income tax rates for the top bracket total over 100%



The Tax Exemption Reform Act
1. Total regional tax exemptions, including various reduced rates, on personal income taxes, may not total over $100,000. Should exemptions total more than that amount, the lesser of that amount and $100,000 shall be the total exemption.

2. If the taxpayer is claiming an income of over $1,000,000 then any income over that amount, regardless of source, is taxed at the highest rate for regular income. Lottery, Casino, or Gambling income is exempted from this portion.

This will fix the problem of people like Warren Buffett, for example, paying less in tax than middle class people



The Elections Crisis Act
1. In the event of a crisis in the region that results in vacancies in the Legislature, Governor, Lt.Governor, Judicial officer, or any other officer that, or their incapacitation or otherwise inability to carry out their duties, thus results in nobody being otherwise legally able to administer and/or certify an election, and, a general election is scheduled to take place within the next week, the "Elections Crisis Act" is activated.

2. This act allows for others to be given the temporary power to administer and/or certify an election to replace those vacant offices as needed. These persons are listed in section 3 of this act, and the list shall be followed in order, first to last.

3.
A- SoFE
B- Regional Senator
C- Any other Senators from the region in the Senate, starting with the member who received the most ballots on the first ballot of the election that placed him or her in the Senate.
D- Any person nominated by the Legislature within 72 hours of the activation of the act; with the time to vote yea or nay on that single person not included, so long as the time set aside to vote does not extend past 96 hours.
E- The President, or anyone else authorized by the President to act on his or her behalf.

This will ensure a problem like those faced in the NE will never, ever, happen here

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Enthusiastically support the 90% tax act.

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The 90% Tax Act.
1. This act reaffirms the right of the region to set it's own taxes at whatever levels it feels best for it's own taxpayers.

2. No form of taxation, be it income, corporate, or sales, can add to, when federal taxes are considered, over 90%. Federal numbers are taken as base numbers with Regional numbers added to this. In the event that regional taxes would push this number over 90%, the regional tax is then capped so that the new total of regional and federal taxes totals 90%.

3. The Governor may propose a referendum for repeal of this act if he or she has sufficient reason to believe the Federal government is taking advantage of this act to, in some way, harm the Pacific region.

This will fix the problem noted some time ago where our Regional and Federal income tax rates for the top bracket total over 100%

Make it 100%, and I'll support it.

Which would lead to no revenue, you realize that, right?

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Reintroducing this. I could have sworn it got enough signatures to get voted on but oh well....you need two, am I right?

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Income Tax Reform Bill

1. Effective FY 2013, all regional income taxes shall be abolished and replaced with the following brackets:
a. 0% on all income earned from 0-29,999
b. 1% on all income earned from 30,000-49,999
c. 3% on all income earned from 50,000-99,999
d. 5% on all income earned from 100,000-999,999
e. 10% on all income earned from 1,000,000-9,999,999
f. 15% on all income earned from 10,000,000-49,999,999
g. 30% on all income earned from 50,000,000-99,999,999
h. 50% on all income earned past 99,999,999                           

Sorry for commenting so late but that last bracket is completely unacceptable. It makes no sense if your goal is to get more money from the richers. A 50% tax rate would mean a 110% tax rate on those making $100 million or above. Even accounting for tax breaks I doubt it would get below 100%, or much below it. So basically we are motivating them to move to another region or country to make their money and we lose out on all of their tax receipts. That is just dumb, and as someone who wants more tax receipts to help the poor in our region I must oppose it.

Nay!

Edit: I see with deductions the tax rate actually drops to 80%, if that has been calculated correctly. It makes it more tolerable but a 40% top rate would be preferable. My vote remains the same.