Dependent Child and Income Tax Credit (Law'd)
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Author Topic: Dependent Child and Income Tax Credit (Law'd)  (Read 10644 times)
minionofmidas
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« Reply #75 on: October 22, 2008, 01:23:58 PM »
« edited: October 26, 2008, 04:16:31 AM by old man, grinding axes »

And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".
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Јas
Jas
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« Reply #76 on: October 22, 2008, 03:46:32 PM »

Aye
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Bacon King
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« Reply #77 on: October 22, 2008, 03:47:05 PM »

Aye
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Sensei
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« Reply #78 on: October 24, 2008, 02:09:18 PM »

aye
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minionofmidas
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« Reply #79 on: October 25, 2008, 04:27:02 AM »

Current vote count

Aye 4 (Lewis, Jas, Bacon, Sensei)
Nay 0
yet to vote 6 (Torie, Al, Meeker, Culture, Verily, Dwtl)
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Filuwaúrdjan
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« Reply #80 on: October 25, 2008, 05:40:30 AM »

aye
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Torie
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« Reply #81 on: October 25, 2008, 05:08:14 PM »

Aye I guess, although it would be better to have a phase out, since without it, for the value of the entitlement, when one approaches 35K, the effective tax rate will be 100%.
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CultureKing
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« Reply #82 on: October 25, 2008, 06:42:06 PM »

aye
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Torie
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« Reply #83 on: October 25, 2008, 07:04:54 PM »
« Edited: October 26, 2008, 04:47:17 PM by Torie »

I move to amend the pending Welfare Reform Act bill so that it reads in its entirety as follows:

Dependent Child and Income Tax Credit Act


1. The Modified Welfare Reform Act (F.L. 12-12) and the Welfare Reform Act (F.L. 4-9) are both hereby repealed.

2. All individuals who on their tax return filed for the year append  a statement signed by the applicable unemployment office or school in question, which state that the filer, or filers in the case of joint returns,  were during the tax year in question,   unemployed and actively seeking employment or in school full time, and achieved passing grades in the courses taken if in school, shall receive a tax credit of $134 per week while unemployed or in school during such period for each such filer. If the adjusted gross income on such return exceeds $30,000 for an individual, or $50,000 for a joint return, the amount of such tax credit shall be reduced by an amount equal to 25% of the amount by which such adjusted gross income so exceeds such amount.

3. All households in Atlasia with dependent children as of the end of the tax year in question, shall be entitled to claim a dependent child income tax credit of $1,500 for each such dependent child.

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minionofmidas
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« Reply #84 on: October 26, 2008, 04:16:06 AM »


Amendment:
That the following be added to section 4:
"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."


The amendment passes.

Final vote count:

Aye 7 (Lewis, Jas, Bacon, Sensei, Al, Torie, Culture)
Nay 0
did not vote 3 (Meeker, Verily, Dwtl)
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minionofmidas
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« Reply #85 on: October 26, 2008, 03:05:29 PM »

Next time I'm on, which probably is tomorrow, we'll vote on this amendment. Meanwhile
"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."


And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".

"Persons benefiting under this section, shall be limited in their entitlements in such a way that their total annual household income does not exceed $35,000."

offered as friendly. (Would obviously be irrelevant and/or withdrawn if we pass Torie's amendment). If Torie's amendment fails, I might have yet another amendment after that, to create a phaseout here. And then after that, we might even move on to a final vote, possibly before the session ends.
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Torie
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« Reply #86 on: October 26, 2008, 06:02:21 PM »
« Edited: October 26, 2008, 07:36:25 PM by Torie »

Next time I'm on, which probably is tomorrow, we'll vote on this amendment. Meanwhile
"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."


And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".

"Persons benefiting under this section, shall be limited in their entitlements in such a way that their total annual household income does not exceed $35,000."

offered as friendly. (Would obviously be irrelevant and/or withdrawn if we pass Torie's amendment). If Torie's amendment fails, I might have yet another amendment after that, to create a phaseout here. And then after that, we might even move on to a final vote, possibly before the session ends.

Do I  have your vote on my amendment, Lewis, or if not, what can I do with the language to get it?  Ditto any other senator.
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minionofmidas
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« Reply #87 on: October 27, 2008, 11:26:51 AM »

Next time I'm on, which probably is tomorrow, we'll vote on this amendment. Meanwhile
"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."


And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".

"Persons benefiting under this section, shall be limited in their entitlements in such a way that their total annual household income does not exceed $35,000."

offered as friendly. (Would obviously be irrelevant and/or withdrawn if we pass Torie's amendment). If Torie's amendment fails, I might have yet another amendment after that, to create a phaseout here. And then after that, we might even move on to a final vote, possibly before the session ends.

Do I  have your vote on my amendment, Lewis.
I hadn't decided that yet.
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minionofmidas
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« Reply #88 on: October 27, 2008, 11:49:11 AM »

I think I want the numbers to be as Al proposed them, except with some sort of fadeout involved. Your *language* is good.
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Torie
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« Reply #89 on: October 27, 2008, 05:04:45 PM »

I made the child tax credit more generous, and the fadeout starts before 35K but ends after it. If you start it at 35K, the fade out will go on until 63K.  If you increase the fade out at a rate higher than 25%, the effective marginal tax rate goes up more, and that is bad. We want to encourage folks to work.
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minionofmidas
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« Reply #90 on: October 28, 2008, 02:06:40 PM »

I made the child tax credit more generous, and the fadeout starts before 35K but ends after it. If you start it at 35K, the fade out will go on until 63K.  If you increase the fade out at a rate higher than 25%, the effective marginal tax rate goes up more, and that is bad. We want to encourage folks to work.
Okay, makes sense.

Even if it didn't, it would be high time to open the vote on this amendment by now.

The vote is on the amendment. Please vote aye, nay or abstain

I move to amend the pending Welfare Reform Act bill so that it reads in its entirety as follows:

Dependent Child and Income Tax Credit Act


1. The Modified Welfare Reform Act (F.L. 12-12) and the Welfare Reform Act (F.L. 4-9) are both hereby repealed.

2. All individuals who on their tax return filed for the year append  a statement signed by the applicable unemployment office or school in question, which state that the filer, or filers in the case of joint returns,  were during the tax year in question,   unemployed and actively seeking employment or in school full time, and achieved passing grades in the courses taken if in school, shall receive a tax credit of $134 per week while unemployed or in school during such period for each such filer. If the adjusted gross income on such return exceeds $30,000 for an individual, or $50,000 for a joint return, the amount of such tax credit shall be reduced by an amount equal to 25% of the amount by which such adjusted gross income so exceeds such amount.

3. All households in Atlasia with dependent children as of the end of the tax year in question, shall be entitled to claim a dependent child income tax credit of $1,500 for each such dependent child.




Aye.
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minionofmidas
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« Reply #91 on: October 28, 2008, 02:07:09 PM »

And (obviously) if this passes I will withdraw my so far unaccepted friendly amendment.
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Filuwaúrdjan
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« Reply #92 on: October 28, 2008, 02:26:25 PM »

I can live with this, I think (ie; I don't especially mind how the money is paid out, so long as its paid out). Though there are a few things I'd like to check (after the vote, probably) and some further fiddling after that.
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Filuwaúrdjan
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« Reply #93 on: October 28, 2008, 02:29:51 PM »

Aye
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Torie
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« Reply #94 on: October 28, 2008, 04:00:02 PM »

Aye
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Јas
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« Reply #95 on: October 29, 2008, 04:34:02 AM »

Aye
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minionofmidas
Lewis Trondheim
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« Reply #96 on: October 29, 2008, 01:50:12 PM »

Vote count:

Aye 4 (Lewis, Al, Torie, Jas)
yet to vote 6 (everybody else)
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minionofmidas
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« Reply #97 on: October 31, 2008, 10:43:47 AM »

Vote times out on the 2nd, people.
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minionofmidas
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« Reply #98 on: November 03, 2008, 09:24:30 AM »

This amendment has passed.
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minionofmidas
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« Reply #99 on: November 04, 2008, 10:30:07 AM »

Dependent Child and Income Tax Credit Act[/b]

1. The Modified Welfare Reform Act (F.L. 12-12) and the Welfare Reform Act (F.L. 4-9) are both hereby repealed.

2. All individuals who on their tax return filed for the year append  a statement signed by the applicable unemployment office or school in question, which state that the filer, or filers in the case of joint returns,  were during the tax year in question,   unemployed and actively seeking employment or in school full time, and achieved passing grades in the courses taken if in school, shall receive a tax credit of $134 per week while unemployed or in school during such period for each such filer. If the adjusted gross income on such return exceeds $30,000 for an individual, or $50,000 for a joint return, the amount of such tax credit shall be reduced by an amount equal to 25% of the amount by which such adjusted gross income so exceeds such amount.

3. All households in Atlasia with dependent children as of the end of the tax year in question, shall be entitled to claim a dependent child income tax credit of $1,500 for each such dependent child.


Moving to a final vote.

Please vote aye, nay or abstain.

Aye.
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