MA: Mideast Budget 2013 (Debating)

[Inks.LWC Supports Chuck Hagel]

Mideast Budget 2013

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EXPENDITURES:
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Direct Spending:

Energy
($5.99 billion)
Natural resources and environment
($5.38 billion)
Agriculture
($4.21 billion)
Commerce and Housing Loan Programs
($2.01 billion)
Transportation
($24.69 billion)
Community and regional development
($4.46 billion)
Education
($72.02 billion)
Training, labor and unemployment
($9.61 billion)
Health Spending
($14.48 billion)
Civilian Retirement
($43.70 billion)
Aid to Low-Income Families
($25.75 billion)
General Family Support
($5.50 billion)
Administration of justice
($21.27 billion)
General government administration
($3.07 billion)

TOTAL: ($242.14 billion)

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Tax Expenditures and Tax Cuts

Corporate Tax Breaks ($11.03 billion)
$7.00 billion ...... R&D Tax Breaks (No Change)
$1.01 billion ...... Energy, Mining and Timber Tax Breaks (No Change)
$2.03 billion ...... Tax Free Bonds (No Change)
$0.99 billion ..... Other Corporate Tax Breaks (No Change)

Personal Business & Investment Benefits ($4.69 billion)
$3.80 billion ..... Tax-Free Bonds (No Change)
$0.56 billion ...... Enterprise & Empowerment Zones and New Markets credit (No Change)
$0.33 billion ....... Other personal investment tax breaks (No Change)

Pension & Retirement Deductions ($26.08 billion)
$10.05 billion ..... Employer-paid Pensions (No Change)
$7.05 billion ..... 401Ks & Keogh plans (No Change)
$1.50 billion ...... IRAs (No Change)
$6.62 billion ..... Group and personal life insurance benefits (No Change)
$0.86 billion ...... Other retirement benefits (No Change)

Health Insurance Tax Benefits ($12.14 billion)
$5.30 billion .... Employer-paid Health Insurance (No Change)
$1.03 billion ...... Self-employed medical insurance premiums (No Change)
$4.70 billion ...... Medical Savings/Health Savings Accounts (No Change)
$1.11 billion ...... Deductibility of medical expenses (No Change)

Housing tax benefits ($12.93 billion)
$5.50 billion ..... Mortgage Interest (No Change)
$3.01 billion ..... Deductibility of property taxes on homes (No Change)
$3.51 billion ..... Exclusion of net imputed rental income on owner-occupied homes (No Change)
$0.91 billion ...... Housing bonds & low-income housing investments (No Change)

Other individual deductions and exemptions ($14.43 billion)
$3.62 billion ..... Charitable contributions (No Change)
$1.91 billion ..... Local taxes (w/o home property) (No Change)
$0.56 billion ...... Workmen's compensation (No Change)
$3.33 billion ..... Education deductions and credits (No Change)
$1.31 billion ..... Child credit (No Change)
$1.38 billion ...... Child care credits and deductions (No Change)
$0.46 billion ......... Deduction for the blind and elderly (No Change)
$0.41 billion ...... Employee parking and transit expenses (No Change)
$0.35 billion ...... Adoption and foster care tax credits (No Change)
$0.80 billion ...... Earned Income Tax Credit (EITC)- revenue loss component (No Change)
$0.30 billion ...... Other fringe benefits (No Change)

TOTAL: ($81.3 billion)
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TOTAL EXPENDITURES: ($323.44 billion)

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REVENUES:
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Income Tax Rates:

0% $0 - $13,000           
($0.000 bil)
1% $13,001 - $40,000         
($12.485 bil)
1.5% $40,001 - $100,000     
($16.332 bil)
2.2% $100,001 - $180,000     
($5.390 bil)
2.7% $180,001 - $300,000     
($3.637 bil)
3.25% $300,001 - $750,000     
($2.336 bil)
4% $750,001 - $2,750,000     
($1.962 bil)
5% $2,750,001- $9,999,999     
($1.277 bil)
6.5% $10,000,000+           
($0.935 bil)

TOTAL: ($44.35 B)

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Social Insurance Taxes:

1.5% Employer contributions to pensions   
($27.332 bil)

TOTAL: ($27.33 B)

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Corporate Tax Rates:

0% $0 - $50,000           
($0.000 bil)
0.5% $50,001 - $75,000         
($3.929 bil)
1% $75,001 - $125,000         
($5.312 bil)
1.5% $125,001 - $350,000     
($5.473 bil)
2% $350,001 - $1,000,000     
($7.567 bil)
2.5% $1,000,001 - $10,000,000   
($9.035 bil)
3.25% $10,000,001 - $20,000,000   
($6.963 bil)
4% $20,000,001-$70,000,000     
($7.831 bil)
5% $70,000,001+           
($7.573 bil)

TOTAL: ($53.68 B)

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Ad Valorem Taxes:

Sales Tax Rate: 6% (Groceries, prescription drugs exempt)
($89.284 bil)
Gas: 45 cents/gallon ($0.50/gallon for diesel)
($46.761 bil)
Cigarettes: 60% Manufacturers Price     
($9.385 bil)
Other Tobacco Prod: 60% Manufactures Price   
($0.285 bil)
Distilled Spirits: $2.75 per gallon     
($0.223 bil)
Wine: $0.35 per gallon           
($0.318 bil)
Beer: $0.35 per gallon           
($0.794 bil)
Marijuana: 30% sales tax         
($2.682 bil)

TOTAL: ($149.73 B)

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Business & Other: ($21.07 B)

TOTAL: ($21.07 B)

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Fees: ($43.68 B)

TOTAL: ($43.30 B)

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TOTAL REVENUES: ($339.84 billion)

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PROJECTED SURPLUS: ($16.36 billion)

Sponsor: ZuWo

[Inks.LWC Supports Chuck Hagel]

So we need estimates on how the following affected this year's budget:

Smarter Spending Act
The Mideast Governor's School Act
The Legalization of Poker Act
Effective Use of Government Money for Transportation Act
Mideast Non-Reusable Bag Act
Amendment to the Labor Relations Act
The Affordable Education Act of 2012
The Booze, Drug, and Tobacco Responsibility Act
Mideast Firearms Safety Act
Helping Our Farmers Act
Mideast Dog Welfare Act

After that, the Wiki needs to be updated.  We can't move forward on this until I know what bills we need to have submitted to the GM to get factored in.

[ZuWo]

I have tentative numbers from GM Griffin, though we still need to go through laws from the past year (other than tax changes, those have been accounted for) and see if any would affect the revenue we take in.  I'll edit those in as we progress.

Special thanks to Griffin for all of his hard work on this.

After reading this post I have been under the impression that all expenditures have already been accounted for and that all we have to do is look at the additional revenue we take in due to the bills that have been passed during the last year. But I will check with the former Governor and the GM to make sure where we stand.

As for the Wiki, it will be updated within a week.

[ZuWo]

I have just received confirmation from former Governor Tmthforu that the expenditures are accounted for in the budget. What we still need to do is look at additional revenue some of our recent bills might generate. As some of you might have noticed, I have already received information by GM Griffin about the "Mideast Speed Limit Act", which will increase our revenue by $0.358 billion, and this has already been noted in the budget proposal

[Inks.LWC Supports Chuck Hagel]

What expenditures were accounted for?  Some of these bills were passed recently, so how could the GM have done an analysis on them?

[ZuWo]

What expenditures were accounted for?  Some of these bills were passed recently, so how could the GM have done an analysis on them?

Whatever else may be said about Labor leader Griffin, GM Griffin is the fastest and most hardworking GM in this game I can remember. All of these bills were passed at some point during the last session or the session before. As far as I have read and been told, former Governor and Tmth and GM Griffin looked at and analysed the effect of these bills at the end of the previous session, which was in early May.

[shua]

High Speed Rail was funded at $20 billion for the coming year. If it's included in this, that means all other transportation is less than $5 billion, which is ridiculously small.

[GM Griffin]

What expenditures were accounted for?  Some of these bills were passed recently, so how could the GM have done an analysis on them?

Whatever else may be said about Labor leader Griffin, GM Griffin is the fastest and most hardworking GM in this game I can remember.

These numbers were calculated on 5/4. The Mideast Speed Limit Act was not factored in initially because of it being amended at the time, IIRC. As the Governor mentioned, though, a quote has since been furnished for this.

Recent HSR numbers wouldn't be included as the bill passed on 5/15. In addition that, I may have missed the Mideast Non-Reusable Bag Act, and I do not recall assessing the Helping Our Farmers Act or Mideast Dog Welfare Act.

Y'all know where to find me.

[Inks.LWC Supports Chuck Hagel]

Were any of the bills that are not yet on the Wiki factored into this budget analysis?

[ZuWo]

I expect that the Mideast will get federal support for the Mideast High Speed Rail Act. In fact, a concrete proposal which has been introduced by our regional Senator is currently being debated in the Senate:

http://uselectionatlas.org/FORUM/index.php?topic=175009.0

If passed (and I am confident that it will be passed in some form or another) a great burden will be lifted from our budget.

[ZuWo]

As for the "Helping our Farmers Act", the text of the act states that exactly $600 million of the 2012 budget (i.e. the previous budget) were allocated for the funding of the program.

This leaves us with the "Mideast Non-Reusable Bag Act" and the "Mideast Dog Welfare Act" to assess.

[Inks.LWC Supports Chuck Hagel]

As for the "Helping our Farmers Act", the text of the act states that exactly $600 million of the 2012 budget (i.e. the previous budget) were allocated for the funding of the program.

This leaves us with the "Mideast Non-Reusable Bag Act" and the "Mideast Dog Welfare Act" to assess.

Plus everything from the last session.

[Inks.LWC Supports Chuck Hagel]

All of this has to be added to the Wiki before we can start doing anything with the Budget:

A.R. 10: Mideast Carbon Emission Control Act
[edit]Legislation Passed in the 29th Assembly

A.R. 1: Second Common Courtesy While Driving Act (Vetoed)
A.R. 2: The Much Better Mideast Emergency Budget Amendment
A.R. 3: Freedom to Consume Alcohol in Public Act
A.R. 4: Keeping The Voting Booths Clean Act (Vetoed)
A.R. 5: Tmthforu94-Gass3268 High Speed Rail Act of 2013
A.R. 6: Mideast Speed Limits Act
A.R. 7: Power To The People Amendment (Failed Public Ratification)
A.R. 8: Amendment to Article 1, Section 4 of the Mideast Constitution
A.R. 9: Federal Amendment Amendment (Failed Public Ratification)
A.R. 10: Stop the Obstructionism Amendment (Tabled)
A.R. 11: Power To The People Bill (Not Passed)
A.R. 12: Federal Amendment Bill (Tabled)
A.R. 13: Federal Amendment Amendment 2

[ZuWo]

As for the "Helping our Farmers Act", the text of the act states that exactly $600 million of the 2012 budget (i.e. the previous budget) were allocated for the funding of the program.

This leaves us with the "Mideast Non-Reusable Bag Act" and the "Mideast Dog Welfare Act" to assess.

Plus everything from the last session.

Only those bills from the last session that were passed after the fourth of May plus the bills Griffin explicitly mentioned, i.e. the Mideast Non-Reusable Bag Act, Helping our Farmers Act and the Mideast Dog Welfare Act.