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Bill: Income tax proposal of March 2582
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: April 2583
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 |
> 850 LOD | 7% | 1,404,000,000 LOD |
> 1,200 LOD | 10% | 4,584,000,000 LOD |
> 2,000 LOD | 19% | 33,004,000,000 LOD |
Total | 38,992,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
Date | 12:39:14, May 26, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of March 2582 | Message | Everyone got a tax cut, and we would get a income of about 108 billion LOD (24 billion from the luxury tax) , which would give us a surplus of 3 billion of the new budget passes, and 10 billion if it dont |
Date | 22:32:36, May 26, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of March 2582 | Message | This tax proposal is simply is a disguise for the true intentions. The poor only received a 1% tax cut, the rich reveived more than 15% tax cut. Is that really fair? |
Date | 23:03:28, May 26, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of March 2582 | Message | The lowest bracket, <600, now pays 12.5% less
The <850 bracket got there tax cut from 10 to 7%, which is 30% less off there pay.
Also the <1,200 bracket now pays 29% less of what they make.
You must see the cuts in light of how much less they pay from what they did, not how much of there paycheck they pay overall. Then you will see that the difference is not that much |
Date | 01:42:59, May 27, 2008 CET |
From | The Liberal Party | To | Debating the Income tax proposal of March 2582 | Message | Mathematically from 8 to 7 is 1. You are still thinking about how flat tax would work, this is not the case. For the poor a 1% decrease is helpful but in comparison to the rich, who received a 15% decrease, in your terms is a lot, it isn't fair.
So, yes, this is a cover up for the real intention, give the rich an enormous tax cut while the poor only gets the slightest of tax cuts. |
Date | 11:37:55, May 27, 2008 CET |
From | Lodamun Libertarian Party | To | Debating the Income tax proposal of March 2582 | Message | Yeah 8 - 7 is 1, but its not 1% down. If they where to go from 100 to 99% income tax that would be 1%. 7 is 12.5% less than 8, so they will pay 12.5% less money than they did. You have to think how much less they have to pay in %, not in numbers. since from 8 to 7 is not 1%, since 8 is 100%, and 7 is 7/8 of that, which = 8:100*7, which again = 87.5 |
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Vote |
Seats |
yes | Total Seats: 53 |
no | Total Seats: 71 |
abstain | Total Seats: 26 |
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