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Bill: Gov.0058.2676 Income Tax Proposal
Details
Submitted by[?]: Conservative 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: June 2677
Description[?]:
| Propose to reduce tax rates for multiple income levels from low to high and a few modifications to the income levels, most notably the addition of a new highest income tax bracket. This proposal will give back around 10B in revenue to the people of which we are now beyond 11B in revenue. |
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 |
| > 5,000 SEK | 6% | 6,831,000,000 SEK |
| > 10,000 SEK | 12% | 11,733,000,000 SEK |
| > 15,000 SEK | 15% | 8,858,000,000 SEK |
| > 20,000 SEK | 20% | 10,610,000,000 SEK |
| > 25,000 SEK | 20% | 9,118,000,000 SEK |
| > 30,000 SEK | 25% | 10,081,000,000 SEK |
| > 35,000 SEK | 30% | 7,916,000,000 SEK |
| > 40,000 SEK | 30% | 5,568,000,000 SEK |
| > 45,000 SEK | 35% | 5,977,000,000 SEK |
| > 50,000 SEK | 35% | 5,977,000,000 SEK |
| > 55,000 SEK | 35% | 3,925,000,000 SEK |
| > 60,000 SEK | 40% | 2,265,000,000 SEK |
| > 65,000 SEK | 40% | 1,614,000,000 SEK |
| > 70,000 SEK | 45% | 1,998,000,000 SEK | Total | 92,471,000,000 SEK |
Debate
These messages have been posted to debate on this bill:
| Date | 20:16:17, December 06, 2008 CET | From | Conservative Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | Long-term goal was to get the two lowest brackets to multiples of 5%s but that will have to wait at least another 5 years because it would cost the government now about 8B in revenue and put us in a short-term deficit. OOC: I decided to keep DSP's new income tax format because it gives all parties some information about what the break-down is per tax bracket. (=Revenue/Tax Rate). |
| Date | 20:47:00, December 06, 2008 CET | From | Free Workers Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | you should have done it anyway. we can afford to give the workers more of a brake what does the formula mean? |
| Date | 21:04:19, December 06, 2008 CET | From | Conservative Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | It would give you the density of people per bracket (highest number of tax payers per bracket. In our country, it just so happens that the highest number of people fall between 5k and 10k and least are in the 65k to 70k bracket, but keep in mind that the 70k+ bracket covers the largest range of taxpayers, but the lowest density per 5k ranges. OOC: Nice to see you more active again, FWP. |
| Date | 23:34:53, December 06, 2008 CET | From | 帝国公明党 (Teikoku Kōmeitō) | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | We're opposed to taxing anyone who makes less than 7,000 DCU. |
| Date | 00:55:31, December 07, 2008 CET | From | Conservative Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | They got a tax rate cut so that should help those people earning 7,000. |
| Date | 07:34:11, December 07, 2008 CET | From | 帝国公明党 (Teikoku Kōmeitō) | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | OOC: An interesting little factoid I found earlier. If Sekowo were a real country total government expenditure would be on the lower spectrum of that of most European countries. We spend 16% of the total the US government does, that is 387.5 billion when converted from DCU to dollars at the fixed $1=1.25 DCU exchange. (The US government spends 2.4 trillion dollars a year.) |
| Date | 07:44:42, December 07, 2008 CET | From | 帝国公明党 (Teikoku Kōmeitō) | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | OOC: Correction: 1 DCU is equal to $1.25, so $1 is equal to 0.75 DCU. |
| Date | 08:29:34, December 07, 2008 CET | From | Conservative Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | OOC: Relative to GDP, gov't expenditure is in the acceptable margin of Western mixed economies. We actually run Sekowo quite well, give that we have zero net exports. =) |
| Date | 17:47:25, December 07, 2008 CET | From | Conservative Party | To | Debating the Gov.0058.2676 Income Tax Proposal |
| Message | It passed and we still have a 2.5B DCU surplus. Good direction of this bill. |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 303 | |||
| no |
Total Seats: 155 | |||
| abstain | Total Seats: 142 |
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| Random quote: "Politics is the art of the possible." - Otto von Bismarck |