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Bill: Taxation (Corporations) Abolition Act
Details
Submitted by[?]: Judicial Union Party
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: June 2527
Description[?]:
| An act to remove corporate taxation. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 5
Current: 12
Proposed: 0
Debate
These messages have been posted to debate on this bill:
| Date | 06:57:17, February 03, 2008 CET | From | Judicial Union Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | If you were a multinational corporation looking to set up a branch in Seleya, you would naturally put it in the place most friendly to business. Tukarali has an advantage in this area, in having a central location, but we could improve this further. We have high unemployment rates. The only solution for this is to create more jobs in the economy. Removing corporate tax means this added money can go back into the businesses expanding, creating more jobs. The loss to the budget is minimal, and will be entirely covered by the surplus. In addition, in the medium to long term, the added income tax from the newly employed workers, and the reduced money being spent on welfare will mean removing this tax will actually save us money. |
| Date | 11:09:14, February 03, 2008 CET | From | Greenish Liberal Democratic Socialists | To | Debating the Taxation (Corporations) Abolition Act |
| Message | No. Simply no. Never heard of the Laffer-cruve? Well, read and weep: "The Laffer curve is used to illustrate the concept of Taxable income elasticity, the idea that government can maximize tax revenue by setting tax rates at an optimum point and that neither a 0% tax rate nor a 100% tax rate will generate government revenue. At one extreme, a 0% tax rate means the government's revenue is, of course, zero. At the other extreme, where there is a 100% tax rate, the government collects zero revenue because (in a "rational" economic model) taxpayers presumably change their behavior in response to the tax rate: either they have no incentive to work or they avoid paying taxes, so the government collects 100% of nothing." http://en.wikipedia.org/wiki/Laffer_curve |
| Date | 11:26:44, February 03, 2008 CET | From | Judicial Union Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | Of course we will collect zero revenue from the businesses themselves. A 0% tax rate means exactly that, and that is the intention. We will however collect tax from income tax. Our income tax takings over the medium and long term will increase, since there will be more workers from businesses having more money to spend on expanding their business. The income tax rates will still be similar to how it is now. |
| Date | 11:35:15, February 03, 2008 CET | From | Greenish Liberal Democratic Socialists | To | Debating the Taxation (Corporations) Abolition Act |
| Message | If you're expecting tax cuts will automatically lead to additional revenue, you're nuts. |
| Date | 14:29:31, February 03, 2008 CET | From | Rightist Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | We shall oppose. |
| Date | 23:37:23, February 03, 2008 CET | From | Rightist Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | OH and GLDS? He's already nuts. |
| Date | 07:37:32, February 04, 2008 CET | From | JDW Tukarali Greens Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | please show numbers that support current budget can support this tax cut |
| Date | 07:38:24, February 04, 2008 CET | From | JDW Tukarali Greens Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | RP - how do you know the gender of GLDS? |
| Date | 10:18:34, February 04, 2008 CET | From | Judicial Union Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | Current surplus: 77,462,967,244 TUK Loss from corporate tax abolition: 39,784,196,895 TUK Surplus after abolition: 37,678,770,349 TUK |
| Date | 01:00:15, February 05, 2008 CET | From | Rightist Party | To | Debating the Taxation (Corporations) Abolition Act |
| Message | defeated |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 96 | ||||
| no |
Total Seats: 314 | ||||
| abstain | Total Seats: 90 |
| Random fact: Moderation will not implement nation renaming requests where the proposed name does not comply with the requirements set out in the Nation Renaming Guide: http://forum.particracy.net/viewtopic.php?f=11&t=6364 |
| Random quote: "In politics, you have your word and your friends; go back on either and you're dead." - Morton C. Blackwell |