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Bill: Income tax proposal of July 2117
Details
Submitted by[?]: Protectorate 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: November 2118
Description[?]:
| The Protectorate Party propose to adjust the government's income tax policy to better address the economic situation of the United Federation of Malivia. |
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 |
| > 4,000 MCR | 5% | 6,661,000,000 MCR |
| > 6,500 MCR | 12% | 10,744,000,000 MCR |
| > 9,000 MCR | 23% | 13,311,000,000 MCR |
| > 11,500 MCR | 30% | 15,804,000,000 MCR |
| > 15,000 MCR | 45% | 15,358,000,000 MCR |
| > 20,000 MCR | 55% | 13,673,000,000 MCR | Total | 75,551,000,000 MCR |
Debate
These messages have been posted to debate on this bill:
| Date | 17:23:02, September 28, 2005 CET | From | Malivia Democratic Party | To | Debating the Income tax proposal of July 2117 |
| Message | The current tax system takes in approximately 65 billion MCRs. This proposal takes in 38 billion. We do not oppose the proposals on its face except for the issue of how to make up for the loss of 28 bllion MCRs. This proposal reduces the current revenues by about 40%. |
| Date | 21:16:49, September 28, 2005 CET | From |  Protectorate Party | To | Debating the Income tax proposal of July 2117 |
| Message | current income levels (from the province reports) show that the mean for the lowest bracket is about 4000 Py (our real corrency where one Py=one MCR) thus our current system has the majority of the brackets below this lower threshold. We do not plan on making up this income rather cutting our budget until we reach this level of spending. |
| Date | 22:34:35, September 28, 2005 CET | From | Malivia Democratic Party | To | Debating the Income tax proposal of July 2117 |
| Message | That sounds well and all, but why not attempt to cut the budget first before changing the income tax levels? Futhermore, after looking at the budget submitted by the PP, there is still total expenditures of approximately 27 billion more than the tax revenue proposed by the PP. Or, to put it more bluntly... the PP revenues fall short 27 billion of total proposed expenditures. |
| Date | 22:37:21, September 28, 2005 CET | From | Malivia Democratic Party | To | Debating the Income tax proposal of July 2117 |
| Message | Okay, scratch the previous comment. The 27 billion shortfall is made up by corporate and luxury taxes. That issue being out of the way, we have no qualms about using our overwheming 0 seats to vote for this. |
| Date | 01:45:20, September 29, 2005 CET | From | LibCom Party | To | Debating the Income tax proposal of July 2117 |
| Message | While this is a much more progressive tax scheme than our current one, the drop in revenue is huge. Perhaps the corporate tax rate should be increased to compensate. |
| Date | 02:33:56, September 29, 2005 CET | From | Protectorate Party | To | Debating the Income tax proposal of July 2117 |
| Message | We feel that that can wait until we get a better idea of costs needed from the various mininstries. (OOC: as far as I know right now that half is non-existent) When we get an idea of the needs of the departments we will adjust the income for the government. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 62 | |||||
| no |
Total Seats: 22 | |||||
| abstain | Total Seats: 16 |
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