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Bill: Tax Proposal of 2132
Details
Submitted by[?]: Old School Liberal 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 2132
Description[?]:
| The Old School Liberal Party propose to adjust the government's income tax policy to better address the economic situation of the Democratic Republic of Kafuristan. Please note the sister bill that is designed to cut spending and allow us to maintain a surplus to finance our debt. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 20
Current: 25
Proposed: 10
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 8
Current: 10
Proposed: 0
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 16
Current: 25
Proposed: 8
Article 4
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 KAF | 19% | 153,692,000,000 KAF |
| > 15,000 KAF | 21% | 106,856,000,000 KAF |
| > 25,000 KAF | 25% | 87,541,000,000 KAF |
| > 35,000 KAF | 31% | 97,506,000,000 KAF |
| > 50,000 KAF | 37% | 86,608,000,000 KAF |
| > 75,000 KAF | 43% | 51,786,000,000 KAF | Total | 583,989,000,000 KAF |
Debate
These messages have been posted to debate on this bill:
| Date | 07:20:35, October 28, 2005 CET | From | Old School Liberal Party | To | Debating the Tax Proposal of 2132 |
| Message | This bill will bring very welcome tax cuts to the people. And please, do not fear that the income tax amounts to less than what we're spending according to the sister spending bill. Even with drastic cuts in sales taxes and business taxes, luxury sales taxes will bring in a projected 20,285,550,000 KAF per year and business income tax will bring in a projected 31,231,120,000 KAF. When these are added to the income tax, we have total revenue amounting to 383,633,670,000 KAF, which will provide a surplus of nearly 20,000,000,000 KAF if the spending bill is also passed. |
| Date | 14:32:55, October 28, 2005 CET | From | Communist Party of Kafuristan | To | Debating the Tax Proposal of 2132 |
| Message | If one can afford luxuries, one can afford to pay for a luxury tax. I do agree, however, with the vital goods tax reduction/elimination. |
| Date | 17:23:03, October 28, 2005 CET | From |  Grand National Party | To | Debating the Tax Proposal of 2132 |
| Message | Blah, we don't know. We will look into the current situation and asses what we believe the nation needs taxwise. |
| Date | 22:09:16, October 28, 2005 CET | From | Old School Liberal Party | To | Debating the Tax Proposal of 2132 |
| Message | The luxury tax is still in place, as you can see. We're cutting taxes across the board to provide relief to everyone. While it would be nice to focus exclusively on improving our nationwide GINI coefficient, we can't afford to do this at the expense of the economic development which will be lost by focusing tax cuts solely on the lower income people. Please note that these tax cuts will give people more money in their pockets, allowing lower income individuals to set aside some of their earnings to better themselves, and giving the middle and upper income individuals more freedom to purchase goods from companies which will be able to produce more thanks to the tax cuts. All of this has a very nice circular effect that will, with proper management, allow our economy to catch up to the rest of the world. For those of you who aren't aware, Kafuristan is one of the poorest nations in the world in terms of real GDP per capita, and we have to allow our economy to grow at a high rate in order to prevent ourselves from falling into the clutches of poverty. Even with the reforms that have been initiated in recent years, we provide considerable welfare to the poor, which allows us to keep a reasonable standard of living for the vast majority of our people, but the situation will certainly deteriorate if the economy does not receive a bit of a jumpstart. |
| Date | 23:07:02, October 28, 2005 CET | From | Communist Party of Kafuristan | To | Debating the Tax Proposal of 2132 |
| Message | The problem is that percentage tax cuts give more relief to those with more money. If only we had the option to have a simple algorithm such as [(.48N)-1000p]=T where N is income and T is tax, where P is a tax cut value. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 203 | |||||
| no | Total Seats: 48 | |||||
| abstain |
Total Seats: 49 |
| Random fact: In general, role-play requires the consent of all players. |
| Random quote: "When we're unemployed, we're called lazy; when the whites are unemployed it's called a depression." - Jesse Jackson |