LC 2.28 Resolution to Establish the Budget of the Lincoln Government (Debating)

[lfromnj]

The only tax increase I would support is a Land Value Tax. Anything steals from the fruits of ones labor.

[lfromnj]

The only tax increase I would support is a Land Value Tax. Anything steals from the fruits of ones labor.

To clarify, how is a Land Value Tax different than a property tax and would it actually raise more revenue?

Property tax punishes people for building a house which steals from the fruits of one labor. LVT only taxes the value of the land and any minerals in it. The origin of owning land IMO is not very fair because it was simply planting a flag or whatever and claiming it.

[lfromnj]

Does the carbon tax include the reduction in carbon use due to the tax?

[lfromnj]

One of the most garbage tax bills I have seen almost on par with SNJC's tax bill. Doesn't include bracketing on wealth tells you that the maker of the tax bill is economically illiterate and overall just means FINK RICH PEOPLE.

A possible 70% capitals tax gains means a rich man investing 100 million dollars now into a good fund can get around 10% return on investment per year.  If he lived in the south  he would pay 0 regional capital gains tax and 15% Federal capital gains tax and would have around 550 million dollars in 20 year. With the capital gains tax now having a top bracket rate of around 70%  this man would have less than 200 million dollars. Why the hell would hundreds of people like this not just move out of the sh**t tax land that is Lincoln?. If Rich people are leaving NE states in moderate amounts over income tax ranging into the mid to high single digits why would they not leave over another 70% lost of money they saved?


All this bill would do is create a future deficit by placing all the burden on a few thousand individuals who would smartly move to the South to avoid these absurdly high tax rates. The other option is just pay a few hundred thousand or million to avoid these taxes as well as they can legally. So either way in the long term we will not be raising that much money.


Also I would like to note corporate taxes just force corporations to raise prices in this region. And no Mr.Chancellor forcing price regulations is one of the dumbest things you can do in a normally functioning economy.

Also why is there a limit on itemizing deductions? Now a person like Chuck Feeney wouldn't be able to afford giving away all his money to charity because FINK the rich right?

https://en.wikipedia.org/wiki/Chuck_Feeney

[lfromnj]

Im not sure if this was mentioned already but the federal tax law is currently 39.1% corporate tax rates which is already one of the highest in the world and then adding another 15% tax for Lincoln's corporations will make Lincoln's corporations one of the least competitive in the entire world forcing them to increase prices which will only create a horrible loop of destroying corporations in Lincoln which in the end will just hurt Middle Class families.

We can stay competetive with a 39.1% but a 52.% is like 60% more than the OECD avg and a direct 16% increase over the 2nd highest which is Japan.

[lfromnj]

Im not sure if this was mentioned already but the federal tax law is currently 39.1% corporate tax rates which is already one of the highest in the world and then adding another 15% tax for Lincoln's corporations will make Lincoln's corporations one of the least competitive in the entire world forcing them to increase prices which will only create a horrible loop of destroying corporations in Lincoln which in the end will just hurt Middle Class families.

We can stay competetive with a 39.1% but a 52.% is like 60% more than the OECD avg and a direct 16% increase over the 2nd highest which is Japan.

Current federal law is 28%.

Ok so it was lowered to a more reasonable amount through a federal bill? or was I looking at the wrong numbers?

[lfromnj]

Im not sure if this was mentioned already but the federal tax law is currently 39.1% corporate tax rates which is already one of the highest in the world and then adding another 15% tax for Lincoln's corporations will make Lincoln's corporations one of the least competitive in the entire world forcing them to increase prices which will only create a horrible loop of destroying corporations in Lincoln which in the end will just hurt Middle Class families.

We can stay competetive with a 39.1% but a 52.% is like 60% more than the OECD avg and a direct 16% increase over the 2nd highest which is Japan.

Current federal law is 28%.

So combining the federal and regional corporate tax we would be at 43% for the highest bracket? (28+15)

Correct.

Are corporate taxes not considered SALT for corporations?

[lfromnj]

Aye. Obviously disagree with tax raises but as Peanut stated we do need some raises for the deficit. I do hope we can get some spending cuts to prevent further tax increases on Lincoln.

[lfromnj]

Aye, overall this is a solid bill that protects the little majority of Atlasia. My one gripe is the gas tax not structured to be more progressive, so as to ensure that the payments are fair. I will ensure a bill to correct this mistake later on.

How is it not already decently progressive?

The 2nd lowest bracket for lets say the lower middle class has a 1/3 marginal tax rate of the highest bracket.

[lfromnj]

WTF no this is just way too much government intrusion for the sake of income taxation with regards to gasoline. How is a rich person using a gallon of gasoline more polluting than a poor person using a gallon of gasoline?.