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Bill: Taxation Act 2407
Details
Submitted by[?]: RSDP - Democratic Front
Status[?]: defeated
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will not pass any sooner than the deadline.
Voting deadline: March 2408
Description[?]:
| The RSDP - Democratic Front propose to adjust the government's taxation policy to better address the economic situation of the Commonwealth of Rutania. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 17
Current: 26
Proposed: 10
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 7
Current: 33
Proposed: 5
Article 3
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 |
| > 2,000 RUT | 15% | 19,578,000,000 RUT |
| > 5,000 RUT | 20% | 13,356,000,000 RUT |
| > 10,000 RUT | 25% | 3,680,000,000 RUT |
| > 15,000 RUT | 35% | 1,000,000,000 RUT | Total | 37,614,000,000 RUT |
Debate
These messages have been posted to debate on this bill:
| Date | 18:15:14, May 21, 2007 CET | From |  RSDP - Democratic Front | To | Debating the Taxation Act 2407 |
| Message | This bill would decrease government spending to approximately 15% of the GDP. |
| Date | 01:28:09, May 22, 2007 CET | From | Latter-Day Saints Party | To | Debating the Taxation Act 2407 |
| Message | With your budget proposal, this would create a massive budget deficit. We must vote against this measure and encourage other parties to do the same. |
| Date | 16:18:44, May 22, 2007 CET | From | RSDP - Democratic Front | To | Debating the Taxation Act 2407 |
| Message | Actually, this would create a small surplus, if passed together with our budget proposal. It is true that the income tax alone wouldn't cover government expenditure, but the remaining 4.2 billion RUT would come from the sales tax and the corporation tax. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 303 | |||||
| no |
Total Seats: 293 | |||||
| abstain |
Total Seats: 154 |
| Random fact: Terra, the fictional world in which Particracy is set, consists of 8 continents: Artania, Dovani, Keris, Makon, Majatra, Seleya, Temania and Vascania. |
| Random quote: "Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone." - John Maynard Keynes |