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Bill: Income tax proposal of February 2958
Details
Submitted by[?]: Marxist-Leninist Party of Ikradon (LL)
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: January 2961
Description[?]:
| The Communist Freedom Party (LL) propose to adjust the government's income tax policy to better address the economic situation of the Socialist Republic of Ikradon. |
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 |
| > 20,500 IKD | 1% | 1,069,000,000 IKD |
| > 22,500 IKD | 5% | 5,924,000,000 IKD |
| > 25,000 IKD | 10% | 11,351,000,000 IKD |
| > 27,500 IKD | 15% | 15,267,000,000 IKD |
| > 30,000 IKD | 20% | 37,797,000,000 IKD |
| > 35,000 IKD | 25% | 41,645,000,000 IKD |
| > 40,000 IKD | 30% | 44,045,000,000 IKD |
| > 45,000 IKD | 35% | 44,860,000,000 IKD |
| > 50,000 IKD | 40% | 91,357,000,000 IKD |
| > 60,000 IKD | 45% | 87,073,000,000 IKD |
| > 70,000 IKD | 50% | 80,251,000,000 IKD |
| > 80,000 IKD | 55% | 68,607,000,000 IKD |
| > 90,000 IKD | 60% | 61,241,000,000 IKD |
| > 100,000 IKD | 65% | 38,143,000,000 IKD |
| > 110,000 IKD | 70% | 21,224,000,000 IKD |
| > 120,000 IKD | 75% | 9,667,000,000 IKD |
| > 130,000 IKD | 80% | 7,436,000,000 IKD |
| > 140,000 IKD | 85% | 4,761,000,000 IKD |
| > 150,000 IKD | 90% | 5,041,000,000 IKD |
| > 160,000 IKD | 95% | 4,789,000,000 IKD |
| > 169,000 IKD | 99% | 2,169,000,000 IKD | Total | 683,717,000,000 IKD |
Debate
These messages have been posted to debate on this bill:
| Date | 06:49:10, June 24, 2010 CET | From |  Union Socialism Alliance | To | Debating the Income tax proposal of February 2958 |
| Message | We still think that 21 brackets might just be too much. |
| Date | 13:47:32, June 24, 2010 CET | From | SCI Libertarian-Socialist Syndicate (LL) | To | Debating the Income tax proposal of February 2958 |
| Message | May I inquire if we know what poverty level is? Does it start at 20,500 IKD? Perhaps a slower progression in the taxes then. It seems to ramp up really fast for the lower income earners. |
| Date | 19:07:43, June 27, 2010 CET | From | Marxist-Leninist Party of Ikradon (LL) | To | Debating the Income tax proposal of February 2958 |
| Message | We remind USA, that there will only be 4 more brackets. |
| Date | 19:25:49, June 27, 2010 CET | From | Union Socialism Alliance | To | Debating the Income tax proposal of February 2958 |
| Message | We need not be reminded, as we did not support the current Income Tax system, and shall not support this one either. |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 129 | ||||
| no |
Total Seats: 545 | ||||
| abstain |
Total Seats: 76 |
| Random fact: Don't vote yes on a cabinet coalition that doesn't give you the power that you deserve. |
| Random quote: "We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice." - Friedrich August von Hayek |