Plan for the revival of the Ocian Economy

[edwardsimms]

Steps:

1. Lower Taxes
2. Business Fees (to be paid in full)
3. Posting bonuses (for every they shall get a certain amount of money back.
4. Allow citizens to spend their money, should they spend they get more deals.
5. Incentives implemented: ie: Deals, Bonus, Business Bonus and others.

I wish to apply for the position of Minister of Economics. My plan is outlined above.

[Matt Kovac]

Our New colony which will be claimed soon is going to be very small but it is going to be one of the only tax-exempt areas in Ocia, but we should definitly consider addeding those things you suggested to our economic system.

[Michael Dervin OCS]

Firstly, in my opinion, given the current population levels of Ocia and given thr current posting rate, I think that the Fiscal Policy of this Nation is quite apt and does not need any revival. If we lowered the tax rate, we would not generate enough income to support the government, plus it would have other effects such as a rise in inflation and other nasty costs.

Secondly, could you please expand a bit on you other proposals, as I would like to see your plan in more detail and see what exactly they entail and what they involve.

Lastly, as regards the "Tax Free" colony, I think this is a bad idea as what is there to prevent us from all moving there and paying no Tax? It would spell disaster for the Tax system and the Government. Perhaps, it might have a lower tax rate or other bonuses for people living there, but there will still be tax!

[Matt Kovac]

Never thought of that. Looks like you are the brains of the country. Maybe it should be Duty free, and no taxes on Casino's.

[Michael Dervin OCS]

Duty free will still have problems as people may start buying their goods from this colony and not from the area in which they live causing the local economy to colapse. The No Tax on Casinoes sounds good, as it would not have any danger of effecting the local economy. Perhaps, you might consider that there might be a lower Coporate Tax in this area?

[Matt Kovac]

Ok Coperate Tax Cuts and No casino taxs, thats good.

[edwardsimms]

Ill elaborate alright.

The government will always see an income. What i meant by lower taxes is that there will be a set amount of taxes.

I suggest: 3 - General Tax (set rate), Business Tax (depending on whether the business makes money or not), and finally, a Colony Tax (for the colony not too sure about this one).

[Matt Kovac]

I agree.

[Michael Dervin OCS]

Well, I am no expert on the Economy, so I have to see what our Expert Kerry thinks before I can comment further.

[nonette]

edwardsimms said:

Steps:

1. Lower Taxes
2. Business Fees (to be paid in full)
3. Posting bonuses (for every they shall get a certain amount of money back.
4. Allow citizens to spend their money, should they spend they get more deals.
5. Incentives implemented: ie: Deals, Bonus, Business Bonus and others.

I wish to apply for the position of Minister of Economics. My plan is outlined above.

1. I personally think that the personal income tax rates are quite low already. A citizen may end up keeping up to 92% of their income. You will be able to see more on this in a couple of hours when I produce my weekly fiscal statement.
2. Could you please elaborate further on this point - the purpose is the main thing, details can be worked out later. Business tax is currently non-existent
3. The main source of Ocian's income at the moment is through posting - you will recieve one Tolar for every post you make. I will be updating the details of this shortly.
4. At the moment this is probably our largest concern. Maybe OAW wants to start selling cars. I would be happy to invest in some North Point platinum. We do have some possibilities, they just need to be developed.
5. Bonds will be available for purchase in a few hours - I'm just ironing out a few wrinkles. Other incentives still need to be developed.

You may have noticed that in 4 and 5 I mention the need for development. Thus I would like to appoint you to the role of "Minister of Economic Development", this is the area where we need economic skills a lot. You will be responsible for developing such ideas which could strengthen our economy. As a side note, I will be publishing a revised list of ministerial postitions asap.

re the new colony: As company tax is currently non-existent, we are going to have to improve incentives rather than reduce punishments. I think that there is no pressing need for the Ocian government to tax business, but that can be discussed.
I am thinking that a scheme such as the government matching half of all private investment in a new company in the colony. This would mean that the govt would agree to purchase one third of start up shares, or in the case of all shares being snapped up, would bid for shares until they had reached the required investment.