Ah alright, should be good then thanks
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by Borovan entered the region as he » Sun Jul 07, 2019 11:53 pm
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 12:10 am
Borovan entered the region as he wrote:For the rational tax scheme by Marius what does income tax subsidy rate of 75% mean? Is it like you can get tax credits if your income is 75% of the income tax exemption level which is 15,000?
NIT = (CO - INC) * SR
Annual Income: $0
$15,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $11,250 (15000*0.75)
Adjusted Income: $11,250
Annual Income: $5,000
$10,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $7,500 (10000*0.75)
Adjusted Income: $12,500
Annual Income: $10,000
$5,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $3,750 (5000*0.75)
Adjusted Income: $13,750
Annual Income: $15,000
$0 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $0 (0*0.75)
Adjusted Income: $15,000
by Saint Hilda Cartographic Society » Mon Jul 08, 2019 7:48 am
[b]SHCS Constituency Information Form[/b]
[b]Constituency ID:[/b]
[b]Constituency Name:[/b]
[b]Constituency Representative:[/b]
[b]Representative's Party:[/b]
[b]Any relevant database links:[/b]
by The Archipelago Territory » Mon Jul 08, 2019 7:59 am
Saint Hilda Cartographic Society wrote:NOTE: The Saint Hilda Cartographic Society, and all maps/information related to them, are unofficial and not admin-approved at this time.
The Saint Hilda Cartographic Society is now keeping track of the 46 Parliamentary constituencies of Saint Hilda. You can find the relevant information here.
If you would like to apply to provide information for a constituency (including a name, the parliamentarian representing the constituency, and the party represented), please telegram the information to this account in the following format.
- Code: Select all
[b]SHCS Constituency Information Form[/b]
[b]Constituency ID:[/b]
[b]Constituency Name:[/b]
[b]Constituency Representative:[/b]
[b]Representative's Party:[/b]
[b]Any relevant database links:[/b]
The Saint Hilda Cartographic Society reserves the right to refuse applications, and/or rename constituencies, if and when that may be helpful to building a realistic and interesting projection of the nation.
by Vienna Eliot » Mon Jul 08, 2019 8:01 am
The Archipelago Territory wrote:Saint Hilda Cartographic Society wrote:NOTE: The Saint Hilda Cartographic Society, and all maps/information related to them, are unofficial and not admin-approved at this time.
The Saint Hilda Cartographic Society is now keeping track of the 46 Parliamentary constituencies of Saint Hilda. You can find the relevant information here.
If you would like to apply to provide information for a constituency (including a name, the parliamentarian representing the constituency, and the party represented), please telegram the information to this account in the following format.
- Code: Select all
[b]SHCS Constituency Information Form[/b]
[b]Constituency ID:[/b]
[b]Constituency Name:[/b]
[b]Constituency Representative:[/b]
[b]Representative's Party:[/b]
[b]Any relevant database links:[/b]
The Saint Hilda Cartographic Society reserves the right to refuse applications, and/or rename constituencies, if and when that may be helpful to building a realistic and interesting projection of the nation.
If you are not admin approved you can’t change constituency names
by The Archipelago Territory » Mon Jul 08, 2019 8:03 am
by Saint Hilda Cartographic Society » Mon Jul 08, 2019 8:05 am
by The Archipelago Territory » Mon Jul 08, 2019 8:06 am
by East Meranopirus » Mon Jul 08, 2019 8:06 am
The Archipelago Territory wrote:I support the map I’m just saying he can’t change the names of our constituencies
by The Archipelago Territory » Mon Jul 08, 2019 8:06 am
Saint Hilda Cartographic Society wrote:The Archipelago Territory wrote:
I support the map I’m just saying he can’t change the names of our constituencies
The Saint Hilda Cartographic Society can not force anyone to change the names they use for their constituencies, but we very much can refuse to place someone on our map if we disagree with their name.
by East Meranopirus » Mon Jul 08, 2019 8:07 am
The Archipelago Territory wrote:SHCS Constituency Information Form
Constituency ID: 2
Constituency Name: New Karlskrona
Constituency Representative: Austin Miller
Representative's Party: SHAPC
Any relevant database links: viewtopic.php?f=31&t=465671&p=35894527&hilit=The+archipelago+territory#p35894527
by The Archipelago Territory » Mon Jul 08, 2019 8:09 am
East Meranopirus wrote:The Archipelago Territory wrote:SHCS Constituency Information Form
Constituency ID: 2
Constituency Name: New Karlskrona
Constituency Representative: Austin Miller
Representative's Party: SHAPC
Any relevant database links: viewtopic.php?f=31&t=465671&p=35894527&hilit=The+archipelago+territory#p35894527
Did you read the part that says to telegram it, not post it here?
by Borovan entered the region as he » Mon Jul 08, 2019 9:21 am
The Miaphysite Church of Coptic Archism wrote:Borovan entered the region as he wrote:For the rational tax scheme by Marius what does income tax subsidy rate of 75% mean? Is it like you can get tax credits if your income is 75% of the income tax exemption level which is 15,000?
Basically, those terms are part of how Negative Income Tax works. Basically, there's a cutoff point (in this case $15,000). Above that point, income starts getting taxed normally, in the income brackets included in the bill, simple enough.
If your income is below the $15,000 cutoff point, you benefit from Negative Income Tax. This is basically a credit from the government to you, based on your income. Where NIT means the amount paid in NIT to you, CO means cutoff value, INC means your regular income, and SR means the subsidy ratio, the formula looks like this:NIT = (CO - INC) * SR
You see how far you are from reaching the cutoff point (the difference between that and your income), and that difference is credited at the established subsidy ratio, in this bill that is 75%. Here's a handful of examples using the numbers from the bill.Annual Income: $0
$15,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $11,250 (15000*0.75)
Adjusted Income: $11,250
Annual Income: $5,000
$10,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $7,500 (10000*0.75)
Adjusted Income: $12,500
Annual Income: $10,000
$5,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $3,750 (5000*0.75)
Adjusted Income: $13,750
Annual Income: $15,000
$0 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $0 (0*0.75)
Adjusted Income: $15,000
You can see, this creates a floor of sorts, so people in bad circumstances aren't thrown into poverty. However, earning money yourself always increases your actual income, there is no way to accidentally unqualify for support by getting a job, and losing income. Income earned after the fifteen thousandth dollar is taxed like in a normal progressive income tax model.
I hope that helps you understand, but I'm happy to answer any more questions.
by The Archipelago Territory » Mon Jul 08, 2019 9:31 am
Borovan entered the region as he wrote:The Miaphysite Church of Coptic Archism wrote:Basically, those terms are part of how Negative Income Tax works. Basically, there's a cutoff point (in this case $15,000). Above that point, income starts getting taxed normally, in the income brackets included in the bill, simple enough.
If your income is below the $15,000 cutoff point, you benefit from Negative Income Tax. This is basically a credit from the government to you, based on your income. Where NIT means the amount paid in NIT to you, CO means cutoff value, INC means your regular income, and SR means the subsidy ratio, the formula looks like this:NIT = (CO - INC) * SR
You see how far you are from reaching the cutoff point (the difference between that and your income), and that difference is credited at the established subsidy ratio, in this bill that is 75%. Here's a handful of examples using the numbers from the bill.Annual Income: $0
$15,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $11,250 (15000*0.75)
Adjusted Income: $11,250
Annual Income: $5,000
$10,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $7,500 (10000*0.75)
Adjusted Income: $12,500
Annual Income: $10,000
$5,000 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $3,750 (5000*0.75)
Adjusted Income: $13,750
Annual Income: $15,000
$0 difference to cutoff point (of $15k)
75% subsidy rate
Negative Income Tax Credit: $0 (0*0.75)
Adjusted Income: $15,000
You can see, this creates a floor of sorts, so people in bad circumstances aren't thrown into poverty. However, earning money yourself always increases your actual income, there is no way to accidentally unqualify for support by getting a job, and losing income. Income earned after the fifteen thousandth dollar is taxed like in a normal progressive income tax model.
I hope that helps you understand, but I'm happy to answer any more questions.
Ah ok thanks that helps a lot.
by The Archipelago Territory » Mon Jul 08, 2019 9:33 am
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 9:40 am
by Borovan entered the region as he » Mon Jul 08, 2019 9:42 am
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 9:50 am
Borovan entered the region as he wrote:I got another question. Is the corporate income tax rate of 40% is that a marginal tax rate or effective tax rate excluding the 5 year tax cuts mentioned if they hire workers by 50% or sustainable electricity? Like if a corporation earns more than $200,000 would they be taxed at 30% at the first $200,000 and then 40% for higher earnings or is it just 40%?
by Borovan entered the region as he » Mon Jul 08, 2019 9:55 am
The Miaphysite Church of Coptic Archism wrote:Borovan entered the region as he wrote:I got another question. Is the corporate income tax rate of 40% is that a marginal tax rate or effective tax rate excluding the 5 year tax cuts mentioned if they hire workers by 50% or sustainable electricity? Like if a corporation earns more than $200,000 would they be taxed at 30% at the first $200,000 and then 40% for higher earnings or is it just 40%?
Good question, and I may need to amend the bill to clarify.
Below $200,000, taxed at a base of 30% getting as low as 10% with the hiring and sustainability clauses.
Corporate income above $200,000 taxed at a base of 40%, getting as low as 20%.
by The Archipelago Territory » Mon Jul 08, 2019 9:56 am
The Miaphysite Church of Coptic Archism wrote:1. Socialism is a system of economic thought wherein capital goods are publicly owned. This is not socialism. This has nothing to do with socialism.
2. Nowhere in the bill, at any point, is a 50% tax rate proscribed for anything at all.
3. There are no donation exemptions in this tax scheme, in fact there are no exemptions at all. Donating to a political cause is not a way to escape income tax in this scheme.
by Lamaredia » Mon Jul 08, 2019 9:58 am
The Archipelago Territory wrote:Saint Hilda Cartographic Society wrote:NOTE: The Saint Hilda Cartographic Society, and all maps/information related to them, are unofficial and not admin-approved at this time.
The Saint Hilda Cartographic Society is now keeping track of the 46 Parliamentary constituencies of Saint Hilda. You can find the relevant information here.
If you would like to apply to provide information for a constituency (including a name, the parliamentarian representing the constituency, and the party represented), please telegram the information to this account in the following format.
- Code: Select all
[b]SHCS Constituency Information Form[/b]
[b]Constituency ID:[/b]
[b]Constituency Name:[/b]
[b]Constituency Representative:[/b]
[b]Representative's Party:[/b]
[b]Any relevant database links:[/b]
The Saint Hilda Cartographic Society reserves the right to refuse applications, and/or rename constituencies, if and when that may be helpful to building a realistic and interesting projection of the nation.
If you are not admin approved you can’t change constituency names
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 10:01 am
The Archipelago Territory wrote:The Miaphysite Church of Coptic Archism wrote:1. Socialism is a system of economic thought wherein capital goods are publicly owned. This is not socialism. This has nothing to do with socialism.
2. Nowhere in the bill, at any point, is a 50% tax rate proscribed for anything at all.
3. There are no donation exemptions in this tax scheme, in fact there are no exemptions at all. Donating to a political cause is not a way to escape income tax in this scheme.
Yes it would be, because if you donate you can reduce your income
by The Archipelago Territory » Mon Jul 08, 2019 10:04 am
The Miaphysite Church of Coptic Archism wrote:The Archipelago Territory wrote:Yes it would be, because if you donate you can reduce your income
Donating, or spending money in any way, does not reduce your income. It increases your expenses.
Personal income is the earnings of an individual, and it is not changed by spending those earnings.
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 10:05 am
The Archipelago Territory wrote:The Miaphysite Church of Coptic Archism wrote:Donating, or spending money in any way, does not reduce your income. It increases your expenses.
Personal income is the earnings of an individual, and it is not changed by spending those earnings.
But the person could tell the business “pay me 15,000, and give 5,000 to charity”
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