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Bill: Income tax proposal of July 2465
Details
Submitted by[?]: Libertarians for Applied Market Equity
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 2466
Description[?]:
| Has anyone noticed that we have an enormous surplus? This is a massive income tax cut that still leaves a surplus in place. The surplus is due largely to corporate and sales taxes, rather than income taxes, so let's give the people a break. |
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 |
| > 500 RUT | 5% | 5,659,000,000 RUT |
| > 2,500 RUT | 10% | 18,650,000,000 RUT | Total | 24,309,000,000 RUT |
Debate
These messages have been posted to debate on this bill:
| Date | 17:04:25, October 04, 2007 CET | From |  Neo-Epicurean Party | To | Debating the Income tax proposal of July 2465 |
| Message | We agree. A huge surplus is as bad for the economy as a huge deficit. |
| Date | 20:15:49, October 04, 2007 CET | From | Capitalist Working Families | To | Debating the Income tax proposal of July 2465 |
| Message | PLOP, we do not need income taxes AT ALL in Rutania. We are currently on a budget of 30 Billion RUT and have a surplus of 63 Billion. If we ABOLISH the income taxes for all levels BELOW 17,000 RUT and place a 20% Flat Tax on the 250,000 wealthiest Americans, you are correct if you assert that their would only be 144,000,000 RUT in revenue. However, my income tax plan that I submitted--in which you ORIGINALLY voted for--raised the Luxury Tax to 25% which would provide the Gov't with exactly 30 Billion RUT in revenue thus giving us a BALANCED BUDGET. |
| Date | 20:38:22, October 04, 2007 CET | From | Capitalist Working Families | To | Debating the Income tax proposal of July 2465 |
| Message | http://80.237.164.51/particracy/main/budget.php?nationid=6 Dear RCP, I don't understand what is it that you do not GET: the above link is the National Budget page of Rutania. Now, PLEASE NOTICE that the budget that the Legislature approved just recently was the budget that you argued over as it will "make Rutania a 3rd World country," right??? However, can you notice the RESULTS in the GDP box??? That's right: the Investment portion of GDP is not over 15% when it was 10% before that "Third World Country budget" that you keep ranting about. Look at the budget. --Christian |
| Date | 20:38:46, October 04, 2007 CET | From | Capitalist Working Families | To | Debating the Income tax proposal of July 2465 |
| Message | P.S.: Also, notice that the Consumption component of GDP is a little over 77% when it was 70% before the "barebones budget." Conclusion: 7% growth in Consumption GDP + 5% Growth in Investment GDP = 6% AVERAGE Economic Growth in GDP; the United States averages a little over 3% Growth in its GDP per year. Therefore, this means that Rutania (fictional nation) is doing BETTER than the richest nation on the planet (a real nation). When we abolish the income tax--[and raise the Luxury tax to 25% to keep the budget balanced]--, consumption spending will increase even MORE. |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 359 | ||||
| no | Total Seats: 34 | ||||
| abstain |
Total Seats: 258 |
| Random fact: Before choosing a nation, you may wish to research it first. For more information on the cultural backgrounds of the nations, please see the Cultural Protocols Index: http://forum.particracy.net/viewtopic.php?f=11&t=6365 |
| Random quote: "Anarchy stands for the liberation of the human mind from the domination of religion, the liberation of the human body from the domination of property, liberation from the shackles and restraints of government." - Emma Goldman |