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Bill: Income tax proposal of June 2576
Details
Submitted by[?]: Lodamun Libertarian Party
Status[?]: defeated
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: May 2578
Description[?]:
| The Lodamun Libertarian Party propose to adjust the government's income tax policy to better address the economic situation of the United Republics of Lodamun. |
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 |
| > 600 LOD | 8% | 1,148,000,000 LOD |
| > 850 LOD | 10% | 2,009,000,000 LOD |
| > 1,200 LOD | 14% | 6,430,000,000 LOD |
| > 2,000 LOD | 19% | 10,081,000,000 LOD |
| > 3,000 LOD | 20% | 8,342,000,000 LOD |
| > 4,000 LOD | 20% | 5,335,000,000 LOD |
| > 5,000 LOD | 20% | 4,827,000,000 LOD |
| > 6,500 LOD | 20% | 5,697,000,000 LOD |
Total | 43,869,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 19:20:54, May 16, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of June 2576 | | Message | well with all the budget surplus we have built up over the years (when was the last time we actually had a budget deficit?) We can affor a short time deficit if we adjust our spending within a few months |
| Date | 19:44:35, May 16, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of June 2576 | | Message | A deficit to me means mishandling of our budget, as so I will never vote for a budget or an income tax proposal which will put us in a deficit spending. |
| Date | 01:57:04, May 17, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of June 2576 | | Message | Luxury tax is for those who want to buy luxury, income tax is forced. If someone does not want to pay luxury tax, then they shouldn't buy luxury. You see, they have a choice, with income taxes there is no choice. |
| Date | 02:29:03, May 17, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of June 2576 | | Message | Did you know that our GDP dropped significantly because of the budget cuts? Something must be done because this significant drop is alarming. |
| Date | 12:28:36, May 17, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of June 2576 | | Message | How did the GDP drop significantly? GDP is the total market value of all goods and services produced, and because we do have a strong capitalism here (we do have regulations, but alot is privat owned), so unless the market crashed (which I dont see how could be linked to my budget cut) we would not get a significant GDP drop from my proposed budget |
| Date | 14:52:14, May 17, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of June 2576 | | Message | Nevermind my above post, I saw that there was a GDP thing in our national budget, which calcualted government spending into the GPD. Since the government spending decreased, so did the GDP, but with a budget cut our citizens get more money to use, so consumption, which is 70% of our GDP will increase, and it will balance itself out. What we can also do is deregulate investment for private investors, and at the same time invest our surplus into the economy, and try to raise the investment part of the GDP too |
| Date | 21:11:07, May 17, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of June 2576 | | Message | How do you know consumption will increase? You are predicting but you don't know for sure. Government spending is critical for the GDP. If the GDP decreases too much it will create a panic in our economy. If by any means it keeps decreasing, a recession will occur. |
| Date | 15:03:18, May 18, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of June 2576 | | Message | Well consumption generally increses if the people get more money, since then they got more money to spend. And the government spending is not as critical as consuption. Also a recession is not directly linked to our GDP, but both are affected by the economy |
| Date | 17:20:16, May 18, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of June 2576 | | Message | A recession is directly linked to our GDP because we know there is a recession when the GDP has stopped growing for three consecutive quarters. |
| Date | 17:41:29, May 18, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of June 2576 | | Message | Well yeah but the factors leading to a decrese in the GDP is what will cause a recession, not the GDP in itself.
And also as I said tax cuts gives our citizens morem oney, which give them more money to spend, which will increase consumption |
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| Vote |
Seats |
| yes | Total Seats: 44 |
| no | Total Seats: 61 |
| abstain | Total Seats: 34 |
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