Talk:Business Relief Resolution, 658

The Business Relief Resolution, 658

Jonn Stevens (DPPK) OP

— 09/06/2023 2:36 AM

Proposed by the National Coalition under Chancellor Willard Magnus Ward As a Government Sponsored bill. A resolution to promote investment into the Kodiak economy and provide tax relief to businesses and startups in The Kodiak Republic. Voting is currently set for the 20th of September. https://kodiak.wiki/wiki/Business_Relief_Resolution,_658 The Kodiak Republic Wiki Business Relief Resolution, 658

Jonn Stevens (DPPK) OP

— 09/06/2023 2:37 AM

@Assembly Member Debate is now open for the Business Relief Resolution, 658

W Magnus Ward (NUP)

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— 09/06/2023 2:38 AM

Grant Shadbolt [CKA] — 09/06/2023 3:35 AM I would like to know how much of our current revenue is raised though these taxes, and how much growth is expected to result from the reduction/removal of these taxes.

W Magnus Ward (NUP) — 09/06/2023 4:20 AM ((my apolgies, I'll be with you in a bit. I had hoped to write an introduction to the bill but family is melting down atm))

The Republic of Arcasis (DPPK) — 09/06/2023 5:50 AM The answer is simple, if in these 6 months we can afford spending without going into debt and we can sustain the budget without payroll tax then this is a worth while long term investment

Charlotte Groves (Juliette)[KWP] — 09/06/2023 10:07 AM In terms of spending, our budget rebalancing has ensured that the savings through budget greatly exceed the gain from the payroll tax (16 billion, in DPBR654). Even just the passage of the education budget alone did so - but of course we have passed other budget measures too. I am also confident that the 6 month temporary drop in tax income is also absorbed by the total annual budget cost savings. In theory this means that after the period of growth and investment into the economy, our overall position should be better when taxes are restored given more business profits, and more hiring also helping through income tax.

The increased investment providing an economic boost and more jobs for the working peoples of Kodiak is most important in repairing our current economic issues, after avoiding financial collapse of course.

(OOC: Just gotta be patient while our Chancellor sorts out stuff irl before more details :) !).

W Magnus Ward (NUP) — 09/07/2023 1:07 AM You raise a salient point by inquiring about the potential consequences for state finances should we repeal the payroll tax. This is not a query I have approached lightly. Indeed, I hold some trepidation regarding the issue. However, I place trust in both the underlying mathematics and economic theory. Although there will be a loss of 4 billion florins per quarter, amounting to 16 billion florins annually, there exist critical logistical and economic questions that suggest this might be a beneficial investment. Our economy is predominantly constituted of small to medium enterprises. The payroll tax effectively targets and levies employment. This 4 billion florins, if reintroduced to businesses, will not merely be absorbed by investments, stock buybacks, or corporate governance. Instead, it will provide enhanced liquidity for these small and medium enterprises. Consequently, the reintroduction of these 4 billion florins into the market, by means of employment, will likely lead to heightened consumption, increased employment rates, and a more vibrant participation in economic activities. While I cannot assert with complete certainty that the reintroduced 4 billion florins will generate an equivalent amount in advanced sales and income tax — particularly given the implication that each florin would need to triple its economic productivity — I firmly believe that this move will significantly bolster consumer confidence. Although the financial balance may not be realised in the immediate three years, it is plausible that it will be achieved within the subsequent decade. As for the temporary discount in corporate taxes, I don't consider a one off cost to the budget like this to be something requiring specific justification in the same way. We need to jumpstart our flagging economy and this is an opportunity to release funds directly into allowing business to invest in employees, training, plant, and productivity. Especially since our education system has been so exceptionally over funded for the last 12 years, there must be a generation of workers absolutely scrapping to build something better.

von Zeppelin [CKA] — 09/09/2023 10:39 PM (OOC: I don’t think it’s a secret to you, dear panelists, that I’ve been very busy lately. However, I will try to participate in the discussion to the best of my ability. I'll be brief)

von Zeppelin [CKA] — 09/09/2023 10:48 PM What is the essence of my objections? Firstly, the government and the Central Bank should pull in the same direction, complementing and not interfering with each other. Those. if the government cuts spending, then the Central Bank should stop pouring money into the economy and vice versa, if the government increases spending, then the Central Bank should help the government. This coordination mechanism can hardly be called subtle, but it requires efficiency. And this bill blocks such an opportunity, which shoots at the very heart of the modern financial system. Therefore, I strictly oppose the proposals in this bill. Secondly, in the queue of bills is my bill, which is based on modern banking systems of developed countries and takes into account the experience of the development of the world economy. As a result, I propose to either simply scrap this bill or cut it down to a spending reduction bill.

W Magnus Ward (NUP) — 09/09/2023 10:57 PM Sorry what? This bill is about the payroll and corporation taxes, not the central bank. Did you mean the ⁠The Emergency Banking Affairs A… ? von Zeppelin [CKA] — 09/10/2023 9:31 AM Oh, sorry, yes.

W Magnus Ward (NUP) — 09/10/2023 10:54 PM Ok good. I was very confused for a moment. Glad it was sorted out.

W Magnus Ward (NUP) — 09/10/2023 10:55 PM I hope my response was able to resolve your concerns

Grant Shadbolt [CKA] — 09/11/2023 1:48 AM Yes, it has, thank you.

W Magnus Ward (NUP) — 09/12/2023 7:55 AM In that case, I would like to move we begin the vote on this bill as I don't believe I've seen any significant opposition to the contents

Jonn Stevens (DPPK) OP

— 09/12/2023 11:03 AM

If someone would second the members motion i will accept

Grant Shadbolt [CKA] — 09/12/2023 4:17 PM I second the motion.

Jonn Stevens (DPPK) OP

— 09/12/2023 4:18 PM

Ok then if there are no objections the vote will begin in 24 hours EasyPoll BOT

— 09/13/2023 7:30 PM

Question Do you approve of The Business Relief Resolution, 658

Choices 🇦 Aye 🇧 Nay 🇨 Abstain

Final Result 🇦 ▓▓▓▓▓▓▓░░░ [12 • 67%] 🇧 ▓▓░░░░░░░░ [3 • 17%] 🇨 ▓▓░░░░░░░░ [3 • 17%] 18 users voted

Settings

alarm_clock: Poll already ended (57 minutes ago)

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Allowed roles: @Assembly Member Poll ID: 4a869e3a Jonn Stevens (DPPK) OP

— 09/13/2023 7:31 PM

@Assembly Member the Business Relief Resolution, 658 is officially open for voting Jonn Stevens (DPPK) OP

— Yesterday at 8:53 PM

@Assembly Member only 24 hours left on the Business Relief Resolution, 658 make sure to vote! Jonn Stevens (DPPK) OP

— Today at 8:22 PM

@Assembly Member with a margin of 12 Aye 3 Nay and 3 Abstaining this bill is declared passed Image