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Bill: Wealth redistribution proposal of November 2478
Details
Submitted by[?]: Democratic Workers' Party and CTUL List
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: July 2479
Description[?]:
| The AM Democratic Workers' Party propose to adjust the government's income tax policy to better address the economic situation of the Axis Mundi Likatonian Res Publica. This bill will be a first measure in combating the current economic depression. |
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 |
| > 10,000 LIK | 20% | 80,201,000,000 LIK | Total | 80,201,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 10:33:28, October 31, 2007 CET | From | Kapitalist-Arbeitsfamilien Partei | To | Debating the Wealth redistribution proposal of November 2478 |
| Message | ADAMANTLY oppose!!! This bill is a REGRESSIVE tax on the Middle Class b/c 10,000 LIK is the EQUIVALENT---for PRACTICAL matters, of course, since LIK currency is (literally) IMAGINARY---to ~$87,500 [based on the Exchange Rate mechanism of the Top Bracket in Likatonia (40,000) being eqivalent to the Top Bracket in the U.S. at $350,000]. Therefore, we can ONLY support the fact of moderately Wealthy families and above paying ANY income tax, with the "cut off point" being at about ~11,500 LIK (or $100,000, for PRACTICAL purposes). |
| Date | 11:06:25, October 31, 2007 CET | From | Kapitalist-Arbeitsfamilien Partei | To | Debating the Wealth redistribution proposal of November 2478 |
| Message | P.S.: in the condition that this bill passes, be aware of the fact that Likatonia will STILL face a projected ~20 Billion LIK budget if the Convocation does not PROPORTIONALLY reduce SPENDING levels. |
| Date | 21:40:05, October 31, 2007 CET | From | Kapitalist-Arbeitsfamilien Partei | To | Debating the Wealth redistribution proposal of November 2478 |
| Message | DWP, unfortunately your coalition did NOT secure enough votes to get over 50% of the Convocation to vote in favor of this income tax bill. Nevertheless, the FACT still remains clearly EVIDENT: Likatonia faces a budget DEFICIT of ~ -150 Billion LIK PLUS the Investment portion of the country's GDP is an ABOMINABLE ~1% when it should be averaging nearly 20% for full employment. Therefore, I HUMBLY implore of you for the sake of a BALANCED budget to just simply compromise a LITTLE a pass my Income Tax bill that actually is MORE progressive since it taxes the wealthier citizens moreso than your bill. The bill can be viewed at http://80.237.164.51/particracy/main/viewbill.php?billid=150523 |
| Date | 21:47:06, October 31, 2007 CET | From | Kapitalist-Arbeitsfamilien Partei | To | Debating the Wealth redistribution proposal of November 2478 |
| Message | DISCLAIMER: ignore the reasoning and logic in the above comment. I thought the bill was DEFEATED by a "few votes." The good news is that the budget is BALANCED and Investment and consumption spending is up significantly. cf. http://80.237.164.51/particracy/main/budget.php?nationid=17 However, the BAD news is that this income tax bill is actually more REGRESSIVE than the one that I proposed in the link since it only taxes the wealthier citizens. Plus, my bill gives tax relief to ALL of the millions of Democratic Worker Councils (DWCs.....unions) that own corporations as to encourage them to increase investment, productivity, and jobs to a 30% mark as opposed to a 14%. |
| Date | 23:58:30, October 31, 2007 CET | From | Democratic Workers' Party and CTUL List | To | Debating the Wealth redistribution proposal of November 2478 |
| Message | Investment != job creation |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 344 | |||
| no | Total Seats: 153 | |||
| abstain | Total Seats: 169 |
| Random fact: Players must never be asked for their Particracy password. This includes Moderation; a genuine Moderator will never ask for your password. |
| Random quote: "In a sense we have come to our nation's capital to cash a cheque. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness." - Martin Luther King Jr. |