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Bill: Income tax ==> Consumption Tax
Details
Submitted by[?]: Tuesday Is Coming
Status[?]: defeated
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: May 2115
Description[?]:
| Level of the only bracket is 210+the essentials tax (+a compensating adjustment). No taxes on actual essentials basically, but a tax on "excess" essentials. ----------------------------------------------- Our proposed budget needs 24,844,400,770.00 LOD from the income tax, luxury tax, and essentials tax. After the luxury tax brings in 20,886,252,134.00 LOD, we need 3,958,148,636.00 LOD. The income tax+Essentials tax must be >= 3,958,148,636.00 LOD Essentials tax brings in 626,587,564.00 LOD per percentage point(Ignoring Laffer curve). Essentials tax, when set to 4.3%, can be expected to bring in about 2,694,326,525.20 LOD The income tax will be set so that it does not tax income below the "living expenses level"(assued to be 210) at all. 210*1.043=219 A 1% tax on all income above 219 will bring in 1,428,000,000 LOD. 2,694,326,525+1,428,000,000=4122326525 3,958,148,636 is needed, leaving a mild surplus of 164,177,889 ------------------------------------------ This bill is tied to the following spending bill: http://82.238.75.178:8085/particracy/main/viewbill.php?billid=19645 |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 1
Current: 5
Proposed: 4.3
Article 2
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 |
| > 219 LOD | 1% | 2,763,000,000 LOD | Total | 2,763,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 15:58:18, September 22, 2005 CET | From |  Tuesday Is Coming | To | Debating the Income tax ==> Consumption Tax |
| Message | We hope that this taxation plan will be accepted by the left in Lodamun. It is designed to be fair to the poor without punishing the rich. We are able to fully fund the budget mostly with a luxuries tax. A minor essentials tax, as well as a minor income tax and a very mysterious corportate tax makes up the rest. |
| Date | 16:05:49, September 22, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax ==> Consumption Tax |
| Message | For the DSP and those who do not know what this plan proposes to do: The income tax currently collects 8% of all income, this proposes to reduce that amount to 1% of all income above the "living expenses" level-determined from the default lowest bracket. The effect of this is that essential goods will be taxed only if too many of them are consumed(more than needed for survival) On all additional essential goods, there will be a sales tax of 4.3%. For the most part, income will not be taxed when it is earned, however every citizen will pay the minimum possible income tax, 1%, on all income above 219 LOD. When the money is spent, a 4.3% tax will be applied if the good is considered to be an "essential" good. Otherwise the 50% excise tax will be applied. Support if you support a 7% income tax cut for all Lodamun citizens(and exemption for all income below 219), funded by a 3.3% increase to the essential goods tax. |
| Date | 17:46:51, September 22, 2005 CET | From | Cooperative Commonwealth Federation | To | Debating the Income tax ==> Consumption Tax |
| Message | as always, we oppose any form of tax on essentials, and we will always, under all circumstances, vote against taxing essentials. this is a bedrock anti-theft principle for us: the government should not take money away from people who are only buying food that is needed to keep them alive, clothing needed to keep them from feezing to death, and shelter that is also vital to life. The fact that income tax was cut far too much certainly is not our fault, and if there is a shortfall then it should be made up by a small rollback to the overly-large tax cut. The deficit is entirely the fault of the people who cut taxes too suddenly and too recklessly. We urge the tax officials to come up with a plan that does not rely on taxing the basic necessities of life. |
| Date | 18:38:21, September 22, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax ==> Consumption Tax |
| Message | The surplus is currently 19,080,000,589 LOD We have no deficit, but the basic necessities of life are already taxed by the income tax. Also, the budget data has changed since this morning, suggesting that the numbers are constantly shifting, therefore the projected may be slightly off after this bill passes. |
| Date | 18:54:15, September 22, 2005 CET | From | Tuesday Is Coming | To | Debating the Income tax ==> Consumption Tax |
| Message | http://www.takeforum.com/forum/viewtopic.php?t=2300&mforum=particracy "I accidentally reset all income tax brackets for all nations. Sorry about that." I believe this is why the economic data has been skewed as well. There may be a deficit after this bill passes, however this will be corrected. |
| Date | 20:04:15, September 22, 2005 CET | From | Chorus of Amyst | To | Debating the Income tax ==> Consumption Tax |
| Message | The Chorus finds itself in agreement with the Green Action in this instance - we wish to avoid increasing taxes on essential goods, though we do hope to cut the income tax itself. |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 46 | ||||||
| no |
Total Seats: 224 | ||||||
| abstain | Total Seats: 30 |
| Random fact: Real life-life nationalities, cultures or ethnicities should not be referenced in Particracy (eg. "German"). |
| Random quote: "There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt |