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Bill: Budget Balancing Tax Bill

Details

Submitted by[?]: Populist Liberal 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: January 2116

Description[?]:

When the PLP made its earlier tax bill, we did not realize we were at deficit. We thus proposed a bill that gained only minimal revenue, simply trying to make the system more progressive. Here is a bill that, if passed, will alter our own tax code to solve the deficit through income tax increases.

You'll look and even when you keep in mind that KRP needs to be multiplied by about 7 to get its equivalent in US dollars, the rates will seem pretty steep. The last bill was as we liked them better, but we definitely believe in balanced budgets; and here we offer the chance to balance the budget without raising taxes on the poor.

Proposals

Debate

These messages have been posted to debate on this bill:

Date21:18:40, September 23, 2005 CET
From Populist Liberal Party
ToDebating the Budget Balancing Tax Bill
MessageIf people prefer a deficit, then they do. We're bringing this directly to vote because of the deadline of the election, and if people vote for it, the budget will be balanced again. If not, next term we'll try to balance it by increasing corporate taxes, I guess.

Date00:11:00, September 24, 2005 CET
From Kanjoran People's Party
ToDebating the Budget Balancing Tax Bill
MessageThese tax rates are kind of high, so I hope we try to give a better fix after this.

Date02:13:43, September 24, 2005 CET
From Populist Liberal Party
ToDebating the Budget Balancing Tax Bill
MessageNo doubt they're high. They're higher than we'd like. We tried to balance the budget without going so high on the rates, but this was the least required to balance the budget unbless we wanted to raise the lower-bracket rates...which we preferred not to do.

After the election, we'll happily propose taking the corporate rate up to 20% (which is still fairly low) while undoing part of the personal income tax increase (and we'll figure just how much of the latter we can do without going back into deficit). Our previous tax bill was more like what we'd like to see-- the rates here are higher than we'd like (although remember the people in the highest bracket are making over $225,000 in US dollar equivalency, as best as I can tell from the economic figures we have)-- but we figured we'd better do this to balance the budget right now.

It's kind of good that the mistake reset the economies and is forcing most nations to deal with deficits; that creates a budgeting challenge.

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Voting

Vote Seats
yes
    

Total Seats: 252

no
 

Total Seats: 74

abstain
   

Total Seats: 114


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