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Bill: Income tax proposal of September 2121
Details
Submitted by[?]: Rationalist 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 2122
Description[?]:
The Rationalist Party propose to adjust the government's income tax policy to better address the economic situation of the Telamon Commonwealth. |
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 |
> 1,000 TPD | 10% | 5,656,000,000 TPD |
> 2,000 TPD | 15% | 15,711,000,000 TPD |
> 4,000 TPD | 20% | 20,112,000,000 TPD |
> 8,000 TPD | 27% | 6,184,000,000 TPD |
> 10,000 TPD | 40% | 11,975,000,000 TPD | Total | 59,638,000,000 TPD |
Debate
These messages have been posted to debate on this bill:
Date | 17:49:29, October 06, 2005 CET | From | Rationalist Party | To | Debating the Income tax proposal of September 2121 |
Message | This bill redirects the burden of taxation away from the poorest in our nation with the elimination of the 500TPD bracket. To cover those losses, and those created by the 7 billion deficit we were left with, those earning more than 8k will now pay 2% more, and those earning more than 10k will pay 40% of their income above 10k TPD |
Date | 17:50:54, October 06, 2005 CET | From | Telamon National Party | To | Debating the Income tax proposal of September 2121 |
Message | yeh we can agree to this. |
Date | 19:33:00, October 06, 2005 CET | From | United Liberal Alliance | To | Debating the Income tax proposal of September 2121 |
Message | Whilst i don't object a such to a 1000 TPD tax allowance, you do realise that given that our currency is quite strong (there is a link somewhere on the forum - can't remember where though - to a table which shows the reletive strength of currencies) that you are talking about giving people a huge tax allowance. If the maximum that people in Telamon appear to earn is between 8,000 and 12,000 TPD then just think about it. Therefore, the current tax system seemed fair to me as it gave a very geneous tax allowance and provided for low taxes all round. This would substanitally increase the tax burden on middle and upper incomes which i can't really support. The deficit can far more easily be cut through cuts in public spending. |
Date | 21:23:06, October 06, 2005 CET | From | Rationalist Party | To | Debating the Income tax proposal of September 2121 |
Message | The maximum is between 13000 and 19000. The problem with the old tax system was the 7 billion deficit it left us with. The upper class is the only one that really suffers from a tax increase, everyone else actually has a reduction in tax due to the 1000 TPD allowence |
Date | 21:26:09, October 06, 2005 CET | From | United Liberal Alliance | To | Debating the Income tax proposal of September 2121 |
Message | As I said on your budget proposal, it wasn't the tax system that left us with a deficit, it was the addition of new government departments, therefore, the deficit can actually be reduced (one the bug is fixed) by cutting public expenditure |
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Voting
Vote | Seats | ||||
yes |
Total Seats: 132 | ||||
no |
Total Seats: 123 | ||||
abstain | Total Seats: 0 |
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