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Bill: Income tax proposal of July 2389
Details
Submitted by[?]: Likaton Coalition of the Willing
Status[?]: passed
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: March 2390
Description[?]:
| The AM Eastern Likaton Independence Party propose to adjust the government's income tax policy to better address the economic situation of the Axis Mundi Likatonian Res Publica. We belive that 20,000LIK is more than enough to sustain a family, and that by making tax on this negligible (supplemented by corporate taxes; we are aware that this may cause some wage deflation), and then applying reasonable taxes to high earners, we can help those on low incomes better. |
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 |
| > 20,000 LIK | 1% | 975,000,000 LIK |
| > 30,000 LIK | 20% | 7,227,000,000 LIK |
| > 40,000 LIK | 33% | 987,000,000 LIK | Total | 9,189,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 409 | ||||
| no | Total Seats: 0 | ||||
| abstain | Total Seats: 257 |
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| Random quote: "Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice." - Ayn Rand |