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Bill: Income tax proposal of December 2408
Details
Submitted by[?]: Conservative Party
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: September 2409
Description[?]:
The Conservative Party of Telamon propose to adjust the government's income tax policy to better address the economic situation of the Commonwealth. It is believed a flat taxation can create higher growthrate and better work morale in the nation. |
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 |
> 2,500 TPD | 10% | 11,560,000,000 TPD |
> 5,000 TPD | 10% | 8,432,000,000 TPD |
> 10,000 TPD | 10% | 2,998,000,000 TPD | Total | 22,990,000,000 TPD |
Debate
These messages have been posted to debate on this bill:
Date | 16:51:40, May 24, 2007 CET | From | Páirtí Sóisialach | To | Debating the Income tax proposal of December 2408 |
Message | A flat rate of income tax has been tried in the past and, frankly, it is simply rediculous. To expect the same percentage of the richest that you do the poorest is a crime against humanity. Your tax on the lowest earners leaves them with 2.250 TPD per annum whilst leaving the richest with 9.000 TPD per annum. How, I ask, is that fair? It is blatantly unfair to the people of Telamon. This is precisely the reason we tax higher earners more, because they can afford it. The poorest are taxed a pittance because they cannot. Aside from believing that 2.500 TPD is too poor to begin the tax bracket and at that point 10% is too much to pay, I have no further objection that the obvious bourgeoisie aire that infuses this income tax 'proposal' with all the arch-Tory flavours that have always been so vitriolic to the country. I urge my colleagues to oppose this measure. |
Date | 17:05:34, May 24, 2007 CET | From | Conservative Party | To | Debating the Income tax proposal of December 2408 |
Message | Flat tax will benefit all... The government's cost of processing tax returns would become much smaller, and the relevant tax bodies could be abolished or massively downsized. Another important fact is that a simple but powerful result in economics is that the economic distortion from a tax is proportional to the square of the tax rate. A 20 percent tax rate doesn't cause twice the deadweight loss of a 10 percent tax, but 4 times the deadweight loss. Broadly speaking, this means that a low uniform rate on a broad tax base will be more economically efficient than a mix mash of high and low rates on a smaller tax base. This leads to the idea of a flat tax. And lastly will a flat tax increase tax revenues, by simplifying the tax code and removing the many loopholes corporations and the rich currently exploit to pay less tax. |
Date | 17:26:57, May 24, 2007 CET | From | Republican Party | To | Debating the Income tax proposal of December 2408 |
Message | If there was a flat rate tax then you would only need one bracket, but i support. |
Date | 18:06:37, May 24, 2007 CET | From | Imperialist Party | To | Debating the Income tax proposal of December 2408 |
Message | This bill is monstrous - the fact of the matter is that poor people must spend a much larger proportion of their income on the basic necessities. While this means a few less (actually more) swimming pools for the rich, it means less bread to the poorest in Telamon. The Conservative and Unionist Party is absolutely correct on this one. |
Date | 18:40:25, May 24, 2007 CET | From | Páirtí Sóisialach | To | Debating the Income tax proposal of December 2408 |
Message | If, as the Hon. gentleman claims, the revenue would be higher from a flat rate than a 'hodge-podge' of rates, then why did my proposal raise 41 billion whilst this only raises 25? Again, this bill is unfair to the poor, makes no economic sense whatsoever and entirely ignores the needs of the poor and the needs of the government of Telamon. I re-iterate my call against this 'proposal' and request that if the minister takes himself seriously, he will re-think this position. |
Date | 17:02:27, May 25, 2007 CET | From | Conservative Party | To | Debating the Income tax proposal of December 2408 |
Message | Income would rise compared to current revenues, I dont have to compare it to crazy suggestions such as yours. And it would create growth meaning revenues would further rise on the long run. |
Date | 18:22:19, May 25, 2007 CET | From | Páirtí Sóisialach | To | Debating the Income tax proposal of December 2408 |
Message | Crazy?!? I speak of reason and the manner in which countries levy taxes. This proposal is shear lunacy. |
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Voting
Vote | Seats | |||
yes | Total Seats: 184 | |||
no |
Total Seats: 271 | |||
abstain | Total Seats: 146 |
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