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Bill: Required Revenues From Income Tax: May 2125
Details
Submitted by[?]: National People's Gang
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 2126
Description[?]:
| Devo propose to adjust the government's income tax policy to better address the economic situation of the Five Nations of Lodamun. The failure of the Income tax proposal of February 2124 will produce a significant shortfall against the targets outlined in the successful Development Budget proposal of February 2124. In order to minimise the shortfall it is necessary to produce tax revenues through alternative structures. This proposal leaves existing bands unchanged but introduces a new higher band. |
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 |
| > 100 LOD | 1% | 57,000,000 LOD |
| > 200 LOD | 5% | 574,000,000 LOD |
| > 400 LOD | 10% | 2,296,000,000 LOD |
| > 800 LOD | 15% | 6,889,000,000 LOD |
| > 1,600 LOD | 20% | 17,099,000,000 LOD |
| > 3,200 LOD | 25% | 14,725,000,000 LOD |
| > 5,000 LOD | 35% | 18,411,000,000 LOD | Total | 60,051,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 01:54:09, October 14, 2005 CET | From |  Tuesday Is Coming | To | Debating the Required Revenues From Income Tax: May 2125 |
| Message | Just over half of our population will be affected by the 5000 bracket. The average(mean) person who makes over 5000 makes 6612.43. The maximum that the brackets can collect, per person, presented as numbers and percentages: Bottom bracket 1 LOD per person per year 1 LOD total, between 0% and .5% of all income >200 10 LOD per person per year 11 LOD total, between .5% and 2.75% of all income >400 40 LOD per person per year 51 LOD total, between 2.75% and 6.375% of all income >800 120 LOD per person per year 171 LOD total, between 6.375% and 10.6875% of all income >1600 320 LOD per person per year 491 LOD total, between 10.6875% and 15.34375% of all income >3200 450 LOD per person per year 941 LOD total, between 15.34375% and 18.82% of all income >5000 941 LOD + 35% of all income over 5000 Above 18.82% of income, never higher than 35%(as taxable income approaches infinity). |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 167 | ||||
| no |
Total Seats: 55 | ||||
| abstain | Total Seats: 78 |
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