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Bill: Income tax proposal of March 2982
Details
Submitted by[?]: Social Justice 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 pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: November 2982
Description[?]:
| The Social Democratic Alliance propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Solentia. |
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 |
| > 8,000 SOL | 1% | 1,130,000,000 SOL |
| > 10,000 SOL | 1% | 2,824,000,000 SOL |
| > 15,000 SOL | 1% | 1,695,000,000 SOL |
| > 18,000 SOL | 12% | 19,407,000,000 SOL |
| > 21,000 SOL | 16% | 29,821,000,000 SOL |
| > 25,000 SOL | 18% | 148,652,000,000 SOL |
| > 50,000 SOL | 26% | 101,252,000,000 SOL |
| > 75,000 SOL | 29% | 72,458,000,000 SOL |
| > 100,000 SOL | 34% | 31,944,000,000 SOL |
| > 120,000 SOL | 38% | 18,711,000,000 SOL |
| > 140,000 SOL | 50% | 2,449,000,000 SOL | Total | 430,343,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 09:12:16, August 10, 2010 CET | From |  Social Justice Party | To | Debating the Income tax proposal of March 2982 |
| Message | A slight overall tax cut has been provided, with the most significant reform being an effective tax-free threshold up to 15,000 SOL. This bill will reduce the burden for those on lower incomes with little impost to those in the higher income brackets. Giuseppe Agostino FIinance Secretary |
| Date | 10:54:00, August 10, 2010 CET | From | Sue's Corner | To | Debating the Income tax proposal of March 2982 |
| Message | Could we see a chart of how much this has changed by? I am very concerned with the 50% tax rate. Jock Stewart Shadow Finance |
| Date | 12:19:35, August 10, 2010 CET | From | Sue's Corner | To | Debating the Income tax proposal of March 2982 |
| Message | I;m sorry 50% is far too much tax. Jock Stewart Shadow Finance Secretary |
| Date | 15:58:58, August 10, 2010 CET | From | Social Justice Party | To | Debating the Income tax proposal of March 2982 |
| Message | The 50% tax rate will only apply to those on extremely high wages (which comprises a very small proportion of the population) the middle tax brackets remain largely the same and with the initial tax free threshold, the total tax revenue will be lower. You can click on the icon next to the proposal to see current tax regime Regards, Giuseppe Agostino Finance Secretary |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 57 | ||||
| no | Total Seats: 15 | ||||
| abstain | Total Seats: 28 |
| Random fact: Particracy does not allow role-play that seems to belong to the world of fantasy, science fiction and futuristic speculation. |
| Random quote: "Nature provides a free lunch, but only if we control our appetites." - William Ruckelshaus |