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Bill: Progressive tax proposal of July 2501
Details
Submitted by[?]: Iqembu Sokusebenzisana Yeningi
Status[?]: passed
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: June 2503
Description[?]:
| The SP/E/CT/RUM list propose to adjust the government's income tax policy to better address the economic situation of the Democratic Republic of Ikradon. |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 16
Current: 35
Proposed: 20
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 |
| > 20,000 IKD | 1% | 2,539,000,000 IKD |
| > 25,000 IKD | 5% | 10,769,000,000 IKD |
| > 30,000 IKD | 10% | 35,575,000,000 IKD |
| > 40,000 IKD | 25% | 68,792,000,000 IKD |
| > 50,000 IKD | 40% | 168,876,000,000 IKD |
| > 70,000 IKD | 55% | 213,171,000,000 IKD |
| > 100,000 IKD | 75% | 97,132,000,000 IKD | Total | 596,854,000,000 IKD |
Debate
These messages have been posted to debate on this bill:
| Date | 21:36:13, December 15, 2007 CET | From |  Iqembu Sokusebenzisana Yeningi | To | Debating the Progressive tax proposal of July 2501 |
| Message | We propose to lower tax rates on the lower and middle class, paid for by a raise in the luxury sales tax as well as a new tax on those making more than 100,000 IKD a year. |
| Date | 21:39:34, December 15, 2007 CET | From | Iqembu Sokusebenzisana Yeningi | To | Debating the Progressive tax proposal of July 2501 |
| Message | To clarify, just to make sure this isn't misunderstood, the new tax bracket would only apply to income beyond 100,000 Drahmes in a year. All prior income would be taxed at the reduced amounts. |
| Date | 22:56:35, December 15, 2007 CET | From | Centre | To | Debating the Progressive tax proposal of July 2501 |
| Message | This seems like a reasonable arrangement. Our party would like to see more in the way of tax relief for those that are starting fledgling businesses and helping charitable causes so that in the long hall the average debt of the state could be mitigated. For that time being this will do. |
| Date | 01:49:10, December 17, 2007 CET | From | Yellow Party | To | Debating the Progressive tax proposal of July 2501 |
| Message | We cannot support this bill on the grounds that no one should pay over 60% of what they earn in taxes. Irregardless of profession or method of acquiring the money. |
| Date | 03:56:15, December 17, 2007 CET | From | Centre | To | Debating the Progressive tax proposal of July 2501 |
| Message | We are starting to agree with the Yellow Party. The last 2 brackets seem a bit extreme. Perhaps we could propose a cut in budget to mitigate the difference if taxes were cut a bit in this proposal. |
| Date | 05:06:54, December 17, 2007 CET | From | Monarchal Conservatives | To | Debating the Progressive tax proposal of July 2501 |
| Message | I can't see charging that ridiculous amount of tax... 75% of what someone makes? What incentive does that provide anyone to make more then $30,000? Seeing as when they make 100,000 they only get to keep 25,000 of it anyway. No, the people need less taxes, not more. I mean, think about it, who wants to spend three quarters, two thirds, a half, even just a quarter of their work week making money for the government? I'd like to see no more then 15% tax for anyone. Start at one percent and work your way up from there. If you want more money why not get rid of some of those subsidies? |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 197 | |||
| no |
Total Seats: 60 | |||
| abstain | Total Seats: 42 |
| Random fact: Voters have an extra appreciation for bills that actually get passed, so if you want to maximally take profit from your votes, make sure you compromise with others. |
| Random quote: "The one bonus of not lifting the ban on gays in the military is that the next time the government mandates a draft we can all declare homosexuality instead of running off to Canada." - Lorne Bloch |