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Bill: Income tax proposal of May 2539
Details
Submitted by[?]: Cildanian Workers Coalition
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: February 2540
Description[?]:
| The Cildanian Workers Coalition propose to adjust the government's income tax policy to better address the economic situation of the Cildanian Republic. |
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 |
| > 18,000 CDC | 5% | 44,480,000,000 CDC |
| > 40,000 CDC | 8% | 15,964,000,000 CDC |
| > 50,000 CDC | 10% | 22,720,000,000 CDC |
| > 65,000 CDC | 17% | 23,163,000,000 CDC |
| > 80,000 CDC | 25% | 31,465,000,000 CDC |
| > 100,000 CDC | 30% | 15,748,000,000 CDC | Total | 153,540,000,000 CDC |
Debate
These messages have been posted to debate on this bill:
| Date | 19:17:32, February 29, 2008 CET | From |  Cildanian Workers Coalition | To | Debating the Income tax proposal of May 2539 |
| Message | As Finance minister I propose this tax proposal to the Senate. In Short, it is the largest overhaul of the tax system in living memory with everyone contributing something to the national economy of Cildania. The thresholds have been fixed in order to ensure that every canton will be paying a fair amount of tax. The 18,000CDC lower threshold is the lowest average wage of a Cildanian Citizen. The tiered aproach means that all levels of our society will pay income tax and through this, we can invest in Cildania's Future. The upper rates of 25 and 30 percent will only affect a small proportion of society with Ylrith Canton currently exempt from the 30% bracket due to the lower Salary amounts. This should stimulate growth in the Canton. The CWC and the coalition government will be looking at the Tax allowances and rates on a yearly basis with the thresholds being raised or lowered accordingly. As yet, it is too early to say what will happen, but it is likely that at the 6 monthly review stage in December 2539, we will look to increase the lower tax bracket by approx 3% to 18540 CDC. We believe that this is a good policy for Cildania, it gives us the relevant funds required for progress and we commend it to the Senate! |
| Date | 19:57:35, February 29, 2008 CET | From | Subsistence Alliance | To | Debating the Income tax proposal of May 2539 |
| Message | The figures are in need of reform, but at this time we feel that the institution of a satisfactory income tax should be our primary objective, and corrective of the maths can be undertaken by economics experts at a later date. |
| Date | 20:55:33, February 29, 2008 CET | From | Cildanian Workers Coalition | To | Debating the Income tax proposal of May 2539 |
| Message | We totally accept the SA's position on this and thank them for their support. As Finance minister I am always willing to listen to sensible proposals and, as has been stated, there will be a review forthcoming and a mini-budget will be presented before the Senate in December 2539. Parties are invited to make representations ( Via PM) to myself. Philip Colclough - Finance Minister |
| Date | 17:36:10, March 01, 2008 CET | From | Liberty Party | To | Debating the Income tax proposal of May 2539 |
| Message | This tax proposal would allow for more government waste to be passed. We cannot support this. |
| Date | 22:26:46, March 01, 2008 CET | From | Peoples Revolutionary Front | To | Debating the Income tax proposal of May 2539 |
| Message | I am in full agreement and so are my party. |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 221 | ||||||
| no |
Total Seats: 104 | ||||||
| abstain | Total Seats: 0 |
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