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Bill: Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410
Details
Submitted by[?]: Moderate Libertarian Party (NoCoalition)
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: November 2410
Description[?]:
| The Moderate Libertarian Party propose to adjust the government's income tax policy to better address the economic situation of the Democratic Republic of Aloria. This bill will proceed to a vote upon the pasage of The 16% Government Spending Reduction Budget Proposal Act of 2410 because: a) THIS bill will LOWER the individual income taxes rate for all 3 current income brackets. Those making 1000-5000 ALOs will get taxed 4% instead of 6%; those making between 5000-10000 ALOs will get taxed 6% instead of 8%; and those making more than 10000 ALOs will get taxed 9% instead of 10%. Those making under 1000 ALOs will continue to be exempt for individual income taxation; b) These new tax bracket rates will reduce and return most of the present and very beneficial budget surplus to the people. The amount the government collects from said income taxes will immediately fall from 36.5 billion ALOs to 27.5 billion ALOs; c) As such, with the 16% budget reduction proposal, government expenditures will fall to 26.7 billion ALOs. This essentially means 800 million ALOs in surplus; d) Overall summary: a significantly, sizeably smaller budget surplus will be maintained for the good of the economy and nation as a whole. |
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 |
| > 1,000 ALO | 4% | 9,132,000,000 ALO |
| > 5,000 ALO | 6% | 8,876,000,000 ALO |
| > 10,000 ALO | 9% | 7,974,000,000 ALO | Total | 25,982,000,000 ALO |
Debate
These messages have been posted to debate on this bill:
| Date | 18:51:09, May 26, 2007 CET | From |  Fair Capitalism Party | To | Debating the Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410 |
| Message | As we have said before, we would ask that the MLP withdraw this bill as anything else would be unconstitutional. |
| Date | 21:48:25, May 26, 2007 CET | From | Moderate Libertarian Party (NoCoalition) | To | Debating the Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410 |
| Message | It is a good bill. It reduces taxes and keeps a small surplus in the budget. The FCP would rather the taxpayers be denied this reduction all in the name of its own political vindictiveness? |
| Date | 22:51:32, May 26, 2007 CET | From | Fair Capitalism Party | To | Debating the Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410 |
| Message | No, in the name of the constitution. |
| Date | 03:54:59, May 27, 2007 CET | From | Industrialist Party of Aloria | To | Debating the Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410 |
| Message | We would like a flat tax for the middle and higher bracket and slightly lower for low, but this reduces it and we're content. |
| Date | 20:45:06, May 27, 2007 CET | From | Fair Capitalism Party | To | Debating the Income Tax Reduction and Budget Surplus Realignment Proposal Act of 2410 |
| Message | It's a start. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 352 | ||||
| no |
Total Seats: 248 | ||||
| abstain | Total Seats: 0 |
| Random fact: The majority of nations in Particracy are "Culturally Protected" with an established cultural background. Only the "Culturally Open" nations are not bound by the rules surrounding culture. The Cultural Protocols Index should be consulted for more information about the cultural situation of each nation. |
| Random quote: "It is the hallmark of great society to debate and disagree without resorting to violence." - Mathew Jameson, former Hutorian politician |