We are working on a brand new version of the game! If you want to stay informed, read our blog and register for our mailing list.
Bill: Income tax proposal of September 2483
Details
Submitted by[?]: Technocrat Bloc
Status[?]: defeated
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will not pass any sooner than the deadline.
Voting deadline: November 2485
Description[?]:
| The Technocrat Bloc propose to adjust the government's income tax policy to better address the economic situation of the Republic of Egelion. We propose that the income tax be lowered for all people while the luxury tax be raised 1%. |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 4
Current: 19
Proposed: 5
Article 2
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 EGP | 7% | 10,699,000,000 EGP |
| > 15,000 EGP | 12% | 10,718,000,000 EGP |
| > 20,000 EGP | 17% | 10,323,000,000 EGP |
| > 25,000 EGP | 22% | 7,292,000,000 EGP |
| > 30,000 EGP | 27% | 4,808,000,000 EGP |
| > 35,000 EGP | 29% | 3,088,000,000 EGP |
| > 40,000 EGP | 32% | 3,359,000,000 EGP | Total | 50,287,000,000 EGP |
Debate
These messages have been posted to debate on this bill:
| Date | 10:07:18, November 10, 2007 CET | From | bran1322 Party | To | Debating the Income tax proposal of September 2483 |
| Message | That is a massive reduction in tax revenue. |
| Date | 12:00:17, November 10, 2007 CET | From | Technocrat Bloc | To | Debating the Income tax proposal of September 2483 |
| Message | I think it is about a 2% decrease of taxes (2.443%). Total taxes came out to 90,750,891,360 EGP. The tax reductions take out 6,286,891,360 EGP. The increase of luxury goods tax, using the last reports, brings in 4,069,700,061.5 EGP. So the reduction in taxes is 2,217,191,298.5 EGP. |
| Date | 12:08:30, November 10, 2007 CET | From | Technocrat Bloc | To | Debating the Income tax proposal of September 2483 |
| Message | It took me a while to learn how to propose a tax change. Back with the Portalian's budget bills, this was supposed to be half of a proposal on what to do with tax surplus. The other half I'm still fiddling with -- I may propose it later. |
| Date | 14:45:14, November 10, 2007 CET | From | bran1322 Party | To | Debating the Income tax proposal of September 2483 |
| Message | A 4 billion EGP revenue lost amounts to about a 4-5% of total revenue which is huge. To make a suggestion keep the higher income levels the same and/or also increase the corporate tax and/or the essential goods tax to make up the difference. I'll vote for it then. |
| Date | 14:35:50, November 11, 2007 CET | From | Technocrat Bloc | To | Debating the Income tax proposal of September 2483 |
| Message | I am proposing a 2.443% decrease. Hum, I would rather cut government spending. If keeping the tax revenues is important for you, then I could just leave the >10,000 bracket the same. I think that might actually increase tax revenue. |
| Date | 17:13:01, November 11, 2007 CET | From | bran1322 Party | To | Debating the Income tax proposal of September 2483 |
| Message | That could be acceptable to me, but I'd like to see the numbers. |
| Date | 14:22:17, November 12, 2007 CET | From | Technocrat Bloc | To | Debating the Income tax proposal of September 2483 |
| Message | If I leave the low bracket the same it will bring in 2,604, 000, 000 EGP. So, all total, the increase to the budget would be about 400,000,000 EGP. How is that? Anybody else have an opinion? |
| Date | 17:04:56, November 12, 2007 CET | From | bran1322 Party | To | Debating the Income tax proposal of September 2483 |
| Message | Wait sorry, but I re-read this debate and I don't think I can support this because by keeping the smallest income tax level the same while decreasing the higher brackets, less money will be taken from the rich. |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 44 | ||||||
| no |
Total Seats: 138 | ||||||
| abstain | Total Seats: 119 |
| Random fact: Large scale RP planning (such as wars, regional/continental conflicts, economic collapse, etc.) should be planned (as best as it can be) and should have consent of a majority of players involved. |
| Random quote: "The trouble with practical jokes is that very often they get elected." - Will Rogers |