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Bill: Income tax proposal of January 2584
Details
Submitted by[?]: Judicial Union Party
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 2585
Description[?]:
| The Judicial Union Party propose to adjust the government's income tax policy to better address the economic situation of the United Tribes of Tukarali. |
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 |
| > 60,000 TUK | 20% | 305,563,000,000 TUK |
| > 90,000 TUK | 33% | 378,804,000,000 TUK |
| > 120,000 TUK | 40% | 564,511,000,000 TUK |
| > 180,000 TUK | 45% | 825,165,000,000 TUK | Total | 2,074,043,000,000 TUK |
Debate
These messages have been posted to debate on this bill:
| Date | 07:36:15, May 30, 2008 CET | From | Judicial Union Party | To | Debating the Income tax proposal of January 2584 |
| Message | Following the successful luxury tax increase bill (which will pass into law in August), we present here a new income taxation scheme. It provides tax decreases across the board, apart from the very highest earners. Let us illustrate this with examples, showing how much a person would pay in income tax at various income levels, under the current and proposed systems. The effective tax rate is the percentage of their gross income paid in tax. The average person earns 92,000. Taxable Income | Current scheme (effective tax rate) | Proposed scheme (effective tax rate) 60,000 | 1,000 (1.67%) | 0 (0%) 90,000 | 8,700 (9.67%) | 6,000 (6.67%) 150,000 | 31,650 (21.1%) | 27,900 (18.6%) 250,000 | 71,650 (28.7%) | 71,400 (28.6%) Clearly, those on lower incomes are much better off under the proposed income tax scheme. |
| Date | 08:59:59, May 31, 2008 CET | From | Greenish Liberal Democratic Socialists | To | Debating the Income tax proposal of January 2584 |
| Message | a clear no from our side.. what's the point of changing tax rates every two years.. make up your mind |
| Date | 16:52:04, May 31, 2008 CET | From | Judicial Union Party | To | Debating the Income tax proposal of January 2584 |
| Message | The point is to reduce taxes. We do this by adjusting brackets and rates as the surplus allows. Every term's budget achieves a little bit towards this. For those who are struggling to make ends meet, a little help now is better than more help a few years down the line. |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 283 | ||
| no | Total Seats: 76 | ||
| abstain | Total Seats: 141 |
| Random fact: Particracy does not allow role-play that seems to belong to the world of fantasy, science fiction and futuristic speculation. |
| Random quote: "Democracy is more dangerous than fire. Fire can't vote itself immune to water." - Michael Z. Williamson |