|
|
Post by James R. Kennedy on May 19, 2024 15:51:18 GMT -5
|
|
|
|
Post by James R. Kennedy on May 20, 2024 0:32:03 GMT -5
To all members of the House of Nobles and the Executive Council, the treasury will be authorizing 100 million Irisians for the printing. I task First Councilor jackelliemolly , his executive council and Lord Speaker, Jacob H. Montreux to create a working budget that will cover the spring term and the summer term up to September 21, 2024. |
|
|
|
Post by James R. Kennedy on May 26, 2024 13:09:26 GMT -5
As the 5th Council Session is underway, it’s time for the budget committee to convene.
|
|
|
|
Post by Prince Maximilian on May 26, 2024 13:17:09 GMT -5
As the 5th Council Session is underway, it’s time for the budget committee to convene. I'm willing to serve on it. this might give me some valuable experience! |
|
|
|
Post by James R. Kennedy on May 26, 2024 13:26:46 GMT -5
So the treasury is going to provide you with the basic list for your budget. The rest you decide on how to spend it. Here it is;
Money Printing: 1 Billion Irises
Mandatory Budget Area: Royal Family Allocation, Government Salaries, 3 Cities, Money set aside for other projects!
Taxes: Be Reasonable because we will need to get some of the money back somehow. You will need a tax bracket!
|
|
|
|
Post by jackelliemolly on May 26, 2024 14:28:28 GMT -5
Just for reference could we have the exchange rate into a irl currency
|
|
|
|
Post by James R. Kennedy on May 26, 2024 15:46:24 GMT -5
We could potentially depending upon other regions and RP scenarios we can make up.
|
|
|
|
Post by James R. Kennedy on May 30, 2024 0:58:28 GMT -5
 Budget Session for June 01, 2024 to August 10, 2024
- Printed Money: 1 Billion Irisians
Budget Spread
- Royal Family Allocation: 135 million Irisians
- 3 Cities: 125 million each city, 375 million overall.
- Future Projects: leave around 300 million for them.
- Government Salaries
— First Councilor: 750,000 Irisians a year.
— House of Nobles: 250,000 per Nobleman a year
— I believe the FC should allocate the rest of the Councilors’ salaries with a budget of at least 2.5 million.
|
|
|
|
Post by Jacob H. Montreux on May 30, 2024 13:17:21 GMT -5
Let me get this right, this is for 2 months? If so, why in government salaries we are giving the salaries yearly?
|
|
|
|
Post by Prince Maximilian on May 30, 2024 13:21:44 GMT -5
So the treasury is going to provide you with the basic list for your budget. The rest you decide on how to spend it. Here it is; Money Printing: 1 Billion Irises Mandatory Budget Area: Royal Family Allocation, Government Salaries, 3 Cities, Money set aside for other projects! Taxes: Be Reasonable because we will need to get some of the money back somehow. You will need a tax bracket! we could Tax 15% of royals' income, 10% of Government salaries and maybe let each city chose the citizen tax bracket? |
|
|
|
Post by Prince Maximilian on May 30, 2024 13:22:45 GMT -5
Let me get this right, this is for 2 months? If so, why in government salaries we are giving the salaries yearly? month = rp year? |
|
|
|
Post by James R. Kennedy on May 31, 2024 1:23:28 GMT -5
For this case yes
|
|
|
|
Post by James R. Kennedy on May 31, 2024 1:24:11 GMT -5
So the treasury is going to provide you with the basic list for your budget. The rest you decide on how to spend it. Here it is; Money Printing: 1 Billion Irises Mandatory Budget Area: Royal Family Allocation, Government Salaries, 3 Cities, Money set aside for other projects! Taxes: Be Reasonable because we will need to get some of the money back somehow. You will need a tax bracket! we could Tax 15% of royals' income, 10% of Government salaries and maybe let each city chose the citizen tax bracket? That’s not a bad idea. We will be able to see how those work once we run through the cycles |
|
|
|
Post by James R. Kennedy on Jun 8, 2024 14:04:11 GMT -5
Iris Budget Outline with Tax System
Printed Money: 1 Billion Irisians
Tax System:
To support the budget, the region of Iris will implement a progressive tax system. This system will ensure that funds are raised equitably, with citizens contributing based on their income levels. The tax brackets will be as follows:
Income up to 50,000 Irisians: 5%
Income from 50,001 to 150,000 Irisians: 10%
Income from 150,001 to 300,000 Irisians: 15%
Income above 300,001 Irisians: 20%
Budget Spread:
Royal Family Allocation: 135 million Irisians
3 Cities: 125 million each city, 375 million overall
Future Projects: 300 million Irisians reserved
Government Salaries:
First Councilor: 750,000 Irisians a session
House of Nobles: 250,000 Irisians per Nobleman a session
Councilors' Salaries: The First Councilor will allocate the rest of the Councilors' salaries with a budget of at least 2.5 million Irisians
Breakdown of the Tax System:
Collection Method:
Taxes will be collected annually, with citizens required to file their income reports by the end of the fiscal session.
Automated payroll systems will be implemented for salaried individuals to deduct taxes at source.
Usage of Tax Revenue:
The tax revenue will supplement the printed money to meet the budget requirements.
Any surplus from tax collection will be added to the reserve for future projects or emergency funds.
Tax Benefits and Exemptions:
Citizens earning below 20,000 Irisians each session will be exempt from taxes.
Incentives and deductions will be offered for contributions to regional development projects and charitable donations.
Projected Revenue from Taxes:
Based on the average income distribution, the tax system is expected to generate an additional 200-300 million Irisians annually, ensuring the sustainability of the budget and funding for unforeseen expenditures.
Implementation and Oversight:
The tax system will be managed by the Ministry of Finance, with regular audits and transparent reporting to ensure accountability.
The First Councilor will oversee the implementation and address any issues arising from the tax system, ensuring it meets the region's needs and maintains fairness
|
|
|
|
Post by Jacob H. Montreux on Jun 8, 2024 14:09:31 GMT -5
Honourable Nobles and Executive Members,
I find no issues with the proposed tax allocation.
|
|
Iris
