Esim - Voting Record Update: Day 613
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Voting Record Update: Day 613 (Political)
Posted 10 years ago by
James Hacker    
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I have decided that every now and then I will give explanations for why I chose to vote as I did on a set of laws, particularly if a bunch are proposed at a time.

Today, four laws calling for a change to taxes were proposed, which called to lower Income tax on Iron, Diamonds, Weapons and Gifts from 15% to 10% I voted No to the first two and Yes to the last two, and as I suspect I will be in the minority, I feel the obligation to explain my self.


First, I want to say I am disappointed that 4 laws have been proposed without a single meeting of congress yet. I understand while this is considered the norm, it shouldn't be. People should not condemn the fact many people treat congress as no more then a way to gain achievements, medals and gold, while not consulting congress.

This is particularly unfortunate as our first meeting was to be held later this (e-sim) day, yet this couldn't wait until then. If we want people to care the slightest about congress then it should be used for more then a rubber stamp agency paid in medals and gold.

Second, I voted against the Iron and diamond tax changes on the principle that import taxes should never be at 99% unless we have an oversatured market of a particular good and it's driving prices below reasonable levels. We are not anywhere close to that situation with Iron and Diamonds. Iron and Diamonds are not often on the market and when they are, they are at prices that are simply too high.

It is important the prices are not too high, as they translate into higher production costs for our finished products. This particularly important for Q1 weapons, as they are the only companies a new business owner can hope to make a profit in. High Iron prices only allow the big already established companies to compete, as they already own their own diamond mines.

Another thing we must also remember is that in a low population country, much of business that operate here are naturally foreign owned. They can not sell their goods here as they have to deal with import taxes of 99%. So they forgo investing here.

While I support lowering income taxes, on weapons and gifts, I feel it's important I send a message about the 99% import tax we have in place. Personally, I think import taxes should be at 10-15% for Iron and Diamonds, so to give local producers an advantage, but lower price gouging.

If during we can come to a conclusion in that range, I would vote for it should it be proposed in congress.

tl;dr
Lowering Iron and Diamond import taxes to 10-15% can keep local advantage but stop price gouging which starves new companies. Voted against Iron and diamond changes on principle. Voted for the other two.

~ Congressman James Hacker

Previous article:
Tax Reform: Import Tax (10 years ago)

Next article:
Let The Money Flow!: Non-Deflationary Currency (10 years ago)

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