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Import Taxes

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1 Import Taxes on Thu Nov 29, 2012 3:21 pm

Mann551

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"I am a tax and spender. I believe that if MU's are eCanada's sacred cow, that we need to adequately fund them. In order to do that we need to make sure there is sufficient tax revenue in the coffers. That said, we need to also be cognizant of the ebb and flow on the economy. If taxes are effecting prices and forcing the average eCan citizen to work and shop elsewhere, we need to reevaluate our tax structure."

from Quimbie

"On the economy and public spending part of this, we would potentially need a panel of people to be watching the market, and where people are buying from. We need to keep as much money in country as possible, which might require us increasing, if it is not already up there, import taxes to a value higher than that of 50%, to keep people from buying foreign, although I also understand that this may raise the price of goods, it keeps money in the country."

from Mann551


Now as you can read above, my take on import taxes is that they should be above 50%, to keep Canadian money in eCanada. I do recognize the potential that there may become a lack of supply, and so increase the prices, causing our tax revenue to decrease. Though, this does keep all products within eCanada, and, during a time where we are not in a direct war with another country, this will help to encourage eCanada as a whole to become more self-sufficient and learn not to rely on foreign products as heavily as some say that we do.

It also allows eCanadian companies to become profitable, and potentially increase the wage for the average Canadian. That might even lead into more tax revenue, should we increase income tax to 5%

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2 reply on Thu Nov 29, 2012 6:02 pm

personally i think we need a import tax rate 5% and a Vat of 15% would be a really good idea, our current import tax is 15 which is doing nothing. by raising to 5% we can still get foreign investment in the market, plus tax for the government, and a edge over the competion for canadian producers.
having a import of 50% runs a serious risk of sky rocketing prices through the roof and i don't believe many people would vote for us on that kind of platform. just personal opinion though i'll bow to superior knowledge or the majority of the parties preference Smile

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3 Re: Import Taxes on Thu Nov 29, 2012 6:30 pm

Mann551

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Alas, I am no expert on these things, but with raising import taxes, or having them really low, each has pros and cons. But I can say that, after doing a little tax comparisons with 7 other countries, some large, some our size, that most common import tax for countries our size, is a higher amount. I would give you a link to the comparison, but I can't post any external links or emails for 7 days.

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4 Re: Import Taxes on Thu Nov 29, 2012 6:45 pm

ya im not either tax is most definitely a really hard topic and we'd be extremely lucky to find an expert willing to figure out the system we got here. we can try though, I'm going to try and do some research on tax rates and big and small economies Razz i got time and if i have a revelation i'll let everyone know.

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5 Re: Import Taxes on Thu Nov 29, 2012 6:54 pm

Mann551

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I hate doing research, I am better with gathering information and analyzing it... I know it sort of sounds the same, but it is not... I swear

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6 Re: Import Taxes on Thu Nov 29, 2012 8:08 pm

no not at all, analyses is current and the bases of research, you basically learn for yourself. it's also freakin difficult. if you can do it though it's definitely better

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7 Re: Import Taxes on Sat Dec 01, 2012 1:08 pm

I am in no way a fiscal expert. I am however a politician, who understands optics. We as a party have to walk a fine line. I don't think we can sell a 50% or plus import tax, no matter the positive effects on the coffers or eCan economy. Rather, i think we should push for a moderate tax rate across the board. 12-15% all over. Now, this will have to be studied, if it does not bring in enough revenue then it'll have to be slightly tweaked. Personally I don't believe in dramatic changes to the current tax structure. It look reactionary and tends to have adverse effects on an already fragile economy.

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8 Re: Import Taxes on Sat Dec 01, 2012 4:04 pm

It is trial and error guys, we just gotta take a stab at it.
To me Quimbies sounds the most plausible.

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9 Golden line on Thu Dec 06, 2012 1:29 pm

When the game is like this it is all about how eager Plato buys on the market or not.
I am no financial person at all, but if we could find some golden line here too keep foreign investors on the market and stile make some money for the state.

My guess is if we put the import tax on 15% and a the VAT on 15% the foreign players would stay and the state could make some cash.
If then after 1 or 2 weeks we could see how the market has changed with investors and so on.
If the market seems ok we could raise VAT with some percent and evaluate it after 1 or 2 weeks.

So in the end it is all about trial and error... Smile

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10 Raise on Mon Dec 10, 2012 3:45 am

We absolutely need to look at raising VAT. However we should also look at raising the income tax after elected even if its only by 1% or 2%. This will generate more money than our current 1% is.

But we cant just look at taxes we need to look at programs that will create wealth in Canada as well as programs that the people want/need. The extra tax money could go to long time Canadian Citizens to improve their Factory level.(I'm thinking this could be done by designating liaisons in each state to determine whether they are acceptable to receive grants from the state.)
This could allow us to become an even bigger net exporter of all goods. Not to mention this would improve our military as well by giving our military units such as the the necessary guns and money to make Canada a major player on the world stage.

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11 Re: Import Taxes on Thu Dec 13, 2012 11:48 pm

I also think we need to raise the VAT, however, depending on the time. In periods of peace we should raise it to much higher then current levels but during war times or potential threats it should be slightly higher then current levels to allow eCitizens to buy more supplies and increase productivity. That way we can have production and revenue.

Income Taxes, however I believe it should be at 3% at all times for a guaranteed profit. People won't run off if we can supply them with another, greater motive for staying.

Import Taxes on Raw Materials, however is RIDICULOUSLY HIGH! Shocked They must be adjusted appropriately.

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