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Bill: Income tax proposal of October 2128
Details
Submitted by[?]: Majatran Socialist 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 not pass any sooner than the deadline.
Voting deadline: December 2130
Description[?]:
| The Ba'ath Arab Socialist Party propose to adjust the government's income tax policy to better address the economic situation of the Sultanate of Al'Badara. Following the remarkably ineffective cabinet led by the Conservative Party, Al'Badara has developed a massive deficit. This poses a great problem in the increased nationalisation of our economy. Therefore, we have proposed the following slight increase in taxation, with rises in the future, should they be needed. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 10
Current: 35
Proposed: 15
Article 2
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 |
| > 2,657 BDR | 1% | 1,522,000,000 BDR |
| > 5,314 BDR | 8% | 36,532,000,000 BDR |
| > 13,286 BDR | 12% | 91,318,000,000 BDR |
| > 26,571 BDR | 20% | 293,368,000,000 BDR |
| > 53,143 BDR | 26% | 476,909,000,000 BDR |
| > 106,285 BDR | 32% | 292,106,000,000 BDR |
| > 199,999 BDR | 42% | 41,654,000,000 BDR | Total | 1,233,409,000,000 BDR |
Debate
These messages have been posted to debate on this bill:
| Date | 01:07:13, October 21, 2005 CET | From | Socialist Labor Party | To | Debating the Income tax proposal of October 2128 |
| Message | Would this be good for the people? |
| Date | 01:11:10, October 21, 2005 CET | From | Majatran Socialist Party | To | Debating the Income tax proposal of October 2128 |
| Message | The government is currently 176,359,511,659 BDR in debt. That is not good for the people. Furthermore, with the increase in nationalisation, the government needs as much money as possible. |
| Date | 16:44:44, October 21, 2005 CET | From | Medusoid Party | To | Debating the Income tax proposal of October 2128 |
| Message | Income tax isnt too bad. Any chance of getting the tax on corporations up to 15 or even 20? |
| Date | 19:00:06, October 21, 2005 CET | From | Majatran Socialist Party | To | Debating the Income tax proposal of October 2128 |
| Message | Yes, I would have but have made the bill more moderate so as not to alienate voters. |
| Date | 19:00:19, October 21, 2005 CET | From | Majatran Socialist Party | To | Debating the Income tax proposal of October 2128 |
| Message | I've put it up now though. |
| Date | 20:01:15, October 21, 2005 CET | From | Union of Progressive Ulama | To | Debating the Income tax proposal of October 2128 |
| Message | Seems reasonable enough. |
| Date | 18:27:07, October 22, 2005 CET | From | Nacional Unionist Badaran Arbeits Partei | To | Debating the Income tax proposal of October 2128 |
| Message | NO! |
| Date | 00:48:21, October 24, 2005 CET | From | Majatran Socialist Party | To | Debating the Income tax proposal of October 2128 |
| Message | You complain the nation is in a deficit (which started during the Conservative Party's years in the Finance Ministry), but oppose raising taxes? |
| Date | 15:43:52, October 24, 2005 CET | From | Nacional Unionist Badaran Arbeits Partei | To | Debating the Income tax proposal of October 2128 |
| Message | Ok so we raise taxes, which means people have less to spend, which means people don't consume at the rate they did before which results in a lessened demand for goods = industrial production goes down, mass unemployment and inflation. Good move. We also tax the highest earners who support the economy the most ? Strangle small bussinesses etc? |
| Date | 15:43:56, October 24, 2005 CET | From | Nacional Unionist Badaran Arbeits Partei | To | Debating the Income tax proposal of October 2128 |
| Message | Ok so we raise taxes, which means people have less to spend, which means people don't consume at the rate they did before which results in a lessened demand for goods = industrial production goes down, mass unemployment and inflation. Good move. We also tax the highest earners who support the economy the most ? Strangle small bussinesses etc? |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 431 | |||||
| no | Total Seats: 157 | |||||
| abstain |
Total Seats: 162 |
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