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Bill: Income tax proposal of November 2356
Details
Submitted by[?]: Socijal-Demokratska Partija
Status[?]: defeated
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: July 2357
Description[?]:
| The Socijalisticka Stranka Pravde propose to adjust the government's income tax policy to better address the economic situation of the Free Republic of Likatonia. |
Proposals
Article 1
We propose to alter income tax brackets to the following setup. Information about the current income tax system can be found here.
| Bracket | Tax | Estimated Revenue |
| > 10,000 LIK | 2% | 5,291,000,000 LIK |
| > 20,000 LIK | 19% | 18,529,000,000 LIK |
| > 30,000 LIK | 25% | 9,027,000,000 LIK |
| > 40,000 LIK | 48% | 1,434,000,000 LIK |
| > 70,000 LIK | 66% | 0 LIK | Total | 34,281,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 16:20:49, February 08, 2007 CET | From |  Likaton Coalition of the Willing | To | Debating the Income tax proposal of November 2356 |
| Message | We feel that the 48% tax on those earning in the 40,000 band is too high. |
| Date | 22:29:58, February 08, 2007 CET | From | AM Populist Social Democrats | To | Debating the Income tax proposal of November 2356 |
| Message | We find that strange, as the LITP was the party that wrote the tax code, which the PLPL only modified so as to lower the 20,000 LIK bracket from something close to 22% down to 18%. Everything else in the previous tax code is exactly as the LITP wrote it, namely that the 50% bracket was created by the LITP. We find it inconsistent that the LITP then complains about a SSP's cut of that bracket to 48% as not enough of a cut, when the LITP is the party that made it 50% in the first place. |
| Date | 22:37:10, February 08, 2007 CET | From | Likaton Coalition of the Willing | To | Debating the Income tax proposal of November 2356 |
| Message | And if everything stayed the same, then this would be inconsistent. Financial circumstances, however, are more complicated than they were 15 years ago, and we feel that part of the problems in our economy is that potential high earners are moving out of Likatonia to nations where they feel more able to prosper, damaging our economic power. This, combined with the PLPL's 'spend like there's no tomorrow' policies, mean that we are in a hole, and cutting spending, particulalry in the are of defence, rather than raising taxes, is the way forward. |
| Date | 22:49:22, February 08, 2007 CET | From | AM Populist Social Democrats | To | Debating the Income tax proposal of November 2356 |
| Message | And if the LITP had chosen to work with the PLPL, whether through communicative channels or through a specific resolution calling not for the Honorable Mr. Kinsley's resignation as Finance Minister, but for the top rate to be no higher than 45%, the PLPL could have agreed to that-- despite the fact that growing surpluses until the major cuts in the sales and corporate taxes show that the economy was doing quite well. We strongly wish that the LITP had worked in a cooperative manner; but due to their unwillingness to accept that 5.8% of the GDP is far from an overextended budget and that we preferred to pay for it through consumption taxes, and was necessary for programs the Convocation, in most cases with LITP support, had authorized, chose to ignore stability and compromise and instead provoke confrontation. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 71 | |||
| no | Total Seats: 104 | |||
| abstain | Total Seats: 24 |
| Random fact: You can inactivate yourself on your User Page. You will then lose all your seats but your party account won't be deleted, and your party's Visibility ratings will not diminish. Reactivation can be requested in the "Reactivation Requests" thread in the Game Moderation section of the Particracy Forum. |
| Random quote: "I like to pay taxes. With them I buy civilization." - Oliver Wendell Holmes, Jr. |