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Bill: Income tax proposal of May 2452
Details
Submitted by[?]: Vanuku Corporate Alliance
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: January 2453
Description[?]:
| The Vanuku Federal Alliance propose to adjust the government's income tax policy to better address the economic situation of the Union of Vanuku. This may seem very extreme, but we in the VFA have analyzed the financial situation carefully. The number of billionaires in our nation will pay enough taxes to subsidize the working man, the blue collar bread winner, the farmers tilling our soil and the foreign man that cleans our lawns and washes our cars. We MUST have tax reform in our nation! The VFA has pledged it ,and so it shall be done! |
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 |
| > 15,000 VAN | 5% | 39,957,000,000 VAN |
| > 30,000 VAN | 10% | 49,957,000,000 VAN |
| > 50,000 VAN | 15% | 46,388,000,000 VAN |
| > 75,000 VAN | 20% | 24,632,000,000 VAN |
| > 90,000 VAN | 40% | 53,866,000,000 VAN |
| > 120,000 VAN | 50% | 19,282,000,000 VAN |
| > 200,000 VAN | 60% | 0 VAN |
| > 300,000 VAN | 75% | 0 VAN |
| > 1,000,000 VAN | 85% | 0 VAN |
| > 2,500,000 VAN | 90% | 0 VAN |
| > 10,000,000 VAN | 95% | 0 VAN | Total | 234,082,000,000 VAN |
Debate
These messages have been posted to debate on this bill:
| Date | 05:05:44, September 09, 2007 CET | From |  Supreme Liberal Conservative Order | To | Debating the Income tax proposal of May 2452 |
| Message | If you are voting against my budget proposal, this must not pass. The budget deficit it will cause will make our citizens suffer. |
| Date | 05:52:00, September 09, 2007 CET | From | Vanuku Corporate Alliance | To | Debating the Income tax proposal of May 2452 |
| Message | The VFA finds nothing wrong with running a budget deficit. Should there be a problem, as head of government we would simply direct the treasury to print more money. |
| Date | 06:04:18, September 09, 2007 CET | From | Supreme Liberal Conservative Order | To | Debating the Income tax proposal of May 2452 |
| Message | Are you crazy? If you print more money, inflation will increase and the economy will go awry. people will lose jobs, they will riot, it's just crazy. It will bring economic ruin. As a matter of fact, if this passes, we will be running on a deficit that is more than the defense budget, almost 400 billion VAN. Printing 400 bilion VAN in bills will make the VAN totally worthless. People would burn those bills as fuel as soon as they receive it because it is so worthless |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 67 | |||
| no | Total Seats: 150 | |||
| abstain | Total Seats: 62 |
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