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The above is our tax income; we'll use this for illustrative purposes (i.e. relative impact) as I'm not sure about the time frame and fluctuations.
I propose the following:
1) Get rid of import taxes on all raw materials except diamond (or to 1%, whatever is minimum). This is particularly because we have a chronic shortage of iron among Korean businesses, and 5% translates to 0.2KRW iron (0.008g) becoming 0.21KRW iron, thus uneconomical.
2) Raise income tax on grain, oil, stone, wood, houses, and estates to 8%. There are barely any workers in most of these, and in the cases there are, a lower income tax incentivises workers to work in unproductive industries.
3) Harmonize VAT on all products to 2%, with the exception to Houses and Estates (i.e. big ticket items) at 1%. What this really means is just lowering VAT on tickets to 2%.
So the final picture will be as follows:
Iron, Grain, Oil, Stone, Wood : VAT 0%, Import Tax 1%, Income Tax 8%
Diamond : VAT 0%, Import Tax 15%, Income Tax 8%
Gift : VAT 2%, Import Tax 15%, Income Tax 8%
Weapon, Ticket : VAT 2%, Import Tax 5%, Income Tax 8%
House, Estate, Defense System, Hospital : VAT 1%, Import Tax 1%, Income Tax 8%
Which leaves food.
As a big producer, I like having a reliable Korean market to sell into. That said, I must admit that food prices in Korea tend to be slightly higher then world average, and on occasion runs out. As such, I think a compromise might be 5% Import Tax rather then an 8% one.
The above is what I consider the no-brainer draft proposal (i.e. minimal loss, mostly improvements)
Some other thoughts that we might consider would be the possibility of lowering Income Tax for Iron (to try to incentivise foreign workers to come work in Korea), but such changes would impact our income tax revenue too, so is more questionable.
In any case, I'll read the comments, and if/when a consensus emerges, I'll write up a final version that congress can start passing.
-danyeo
Duke of Formosa
Leader of the Straw Hat Pirates
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About the game:
USA as a world power? In E-Sim it is possible!
In E-Sim we have a huge, living world, which is a mirror copy of the Earth. Well, maybe not completely mirrored, because the balance of power in this virtual world looks a bit different than in real life. In E-Sim, USA does not have to be a world superpower, It can be efficiently managed as a much smaller country that has entrepreneurial citizens that support it's foundation. Everything depends on the players themselves and how they decide to shape the political map of the game.
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You can go bankrupt or become a rich man while playing the stock market.
The international war.
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