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Bill: Income Tax Proposal of October 2693
Details
Submitted by[?]: Telamonese Islamic Unity Party
Status[?]: defeated
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 2694
Description[?]:
| The Telamonese Islamic Unity Party proposes to adjust the government's income tax policy to better address the economic situation of the Republic of Telamon by reducing taxes for middle class families and shifting the tax burden slightly to the rich (who can afford to pay more) to compensate for the loss of revenue. Basically, the 9000 to 11,999 TPD bracket tax rate goes down to 24% from 25%, while a new tax bracket for those with incomes about 19000 TPD is created with a 30% tax rate. |
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 |
| > 2,500 TPD | 16% | 30,423,000,000 TPD |
| > 9,000 TPD | 19% | 4,628,000,000 TPD |
| > 12,000 TPD | 25% | 3,734,000,000 TPD |
| > 19,000 TPD | 30% | 337,000,000 TPD | Total | 39,122,000,000 TPD |
Debate
These messages have been posted to debate on this bill:
| Date | 21:13:15, January 09, 2009 CET | From | Telamonese Islamic Unity Party | To | Debating the Income Tax Proposal of October 2693 |
| Message | Oops- I meant the first bracket mentioned above goes down from 20% to 19%. |
| Date | 21:19:42, January 09, 2009 CET | From | Telamon National Party | To | Debating the Income Tax Proposal of October 2693 |
| Message | This is left to the Finance Minister by Convention in Telamon, please respect that. John Ford, TNP Leader. |
| Date | 02:39:27, January 10, 2009 CET | From | Radical Party | To | Debating the Income Tax Proposal of October 2693 |
| Message | While we agree with the fundamentals of this proposal, we believe that all tax brackets should be lowered, particularly the lower end of the scale. A 1% decrease for two brackets does not justify a 5% increase on others. Rather, spending should be cut to finance widespread tax cuts for the lower end of the scale, while a new tax bracket of 45% for the super-rich should help produce a substantial tax cut for the poor. Reginald Hutton Shadow Finance Minister |
| Date | 21:50:29, January 10, 2009 CET | From | Democratic Capitalist Delegation | To | Debating the Income Tax Proposal of October 2693 |
| Message | Once again Mr. Ford, a hypocritical point you make. Helen Cappoletti Chairwoman Democratic Capitalist Delegation |
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Voting
| Vote | Seats | ||||||
| yes | Total Seats: 0 | ||||||
| no |
Total Seats: 501 | ||||||
| abstain | Total Seats: 0 |
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