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Bill: Income tax proposal of December 2113
Details
Submitted by[?]: Tuesday Is Coming
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: September 2114
Description[?]:
| Shifting taxation from the income tax to a consumption tax. Step two in the TiC taxation plan See the first post in debate: |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 5
Proposed: 1
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 30
Current: 25
Proposed: 50
Article 3
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 |
| > 1 LOD | 8% | 23,083,000,000 LOD | Total | 23,083,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 03:49:55, September 21, 2005 CET | From |  Tuesday Is Coming | To | Debating the Income tax proposal of December 2113 |
| Message | We propose a cut to the income tax funded by an increase in the consumption tax. The math should work out- Lowest possible income tax brings the unfunded programs(before consumption tax) to 28968086160 Current luxury tax brings in 376016510.9 for each percentage point. According to this, the luxury tax percentage 77.04 However...The game mechanics wont allow me to set the tax on luxuries higher than 50... Lxury tax can bring in 18800825545 at 50%, ignoring Laffer curve and other related, unpredictable factors... ------------------------------- no income tax means unfunded obligations=30459086160 unfunded after max luxury tax and no income tax=11658260615 Therefore I set the income tax high enough to pay for 11658260615, and add a 1% sales tax to other goods for future calculations. -------------------------------- This is step two in our overall tax plan |
| Date | 04:03:03, September 21, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax proposal of December 2113 |
| Message | The issue of taxation has already been addressed, we anticipate no additional useful debate on the subject. |
| Date | 05:03:54, September 21, 2005 CET | From | Democractic Socialist Party of Lodamun | To | Debating the Income tax proposal of December 2113 |
| Message | You'll have to forgive my both my seeing this bill proposal late and my poor skills with economics. Could you explain it in more clear terms for this layman? Or layman terms for those of us unclear? Until I have all of the facts, I'll be forced to abstain. |
| Date | 05:25:42, September 21, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax proposal of December 2113 |
| Message | Right now we have a flat income tax of 17%, combined with a 0% universal sales tax, a 0% corporate tax, and a 30% luxury tax. We also have a considerable surplus. I have crunched some numbers, and propose raising the luxury tax to the maximum to add to the surplus. Then I apply nearly all of the surplus to the income tax. The predicted result is a minimal surplus, a considerable luxury tax, and an 8% flat income tax. Support if you prefer a luxury/consumption tax, oppose if you prefer an income tax(currently a flat 17%, as well as a considerable 30% luxury tax) |
| Date | 16:38:59, September 21, 2005 CET | From | Cooperative Commonwealth Federation | To | Debating the Income tax proposal of December 2113 |
| Message | We support a high tax on luxuries, of course, but we must vote against any tax on essentials. |
| Date | 18:56:36, September 21, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax proposal of December 2113 |
| Message | This bill will do the following: The average family will see an immediate increase in income due to the tax cut. If they made 1000, the taxes will be reduced from 170 to 80. There will be a very minor increase on essentials. This will be quite impossible for it to be more than the 9% decrease in the income tax. |
| Date | 07:41:26, September 22, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax proposal of December 2113 |
| Message | I must ask, do the leftist parties of this nation support a consumption tax, combined with an extremely flat low income tax? The end plan involves a 1% flat tax on all income(the lowest possible), as well as a 50% luxury tax, and a universal sales tax to cover the remainder. The goal here, for TiC, is to punish neither the rich nor the poor. Income taxes are seized, sales taxes are paid-This is an important difference to us. Also, a consumption tax encourages investment and taxes inheritances/gifts/etc. after the money is transferred. |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 256 | ||||||
| no | Total Seats: 44 | ||||||
| abstain | Total Seats: 0 |
| Random fact: In cases where a party has no seat, the default presumption should be that the party is able to contribute to debates in the legislature due to one of its members winning a seat at a by-election. However, players may collectively improvise arrangements of their own to provide a satisfying explanation for how parties with no seats in the legislature can speak and vote there. |
| Random quote: "Isn't it about time that the US government stop supporting dictatorships and avaricious oligarchies with our tax monies, munitions, and diplomacy?" - Ralph Nader |