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Bill: Taxation Act
Details
Submitted by[?]: Darnussian Reform Conservative Alliance
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: December 3081
Description[?]:
| Corporation tax should be eliminated to encourage growth and jobs. As well, it is important to note that the last round of tax cuts increased our GDP from 13.9 Trillion to 20.6 Trillion. This means that productivity increased by 48%. Therefore, the tax cuts of approximately 300 billion only reduced revenue by about 160 billion. So, by removing the corporate tax and effectively cutting taxes by 387 billion, we expect an increase in GDP of less than 6 trillion, which should cover the deficit that would be caused by this loss of revenue. If GDP increases do not cover the deficit, we will take action. Afterall, this is very rough math with limited information. As a measure of insurance, 1% sales tax increase will cover marginal losses to revenue. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 65
Current: 0
Proposed: 0
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 10
Proposed: 1
Debate
These messages have been posted to debate on this bill:
| Date | 19:05:36, February 24, 2011 CET | From | Communist Party of Darnussia | To | Debating the Taxation Act |
| Message | Again, utterly stupid. |
| Date | 22:46:42, February 24, 2011 CET | From | Darnussian Reform Conservative Alliance | To | Debating the Taxation Act |
| Message | k |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 423 | ||
| no | Total Seats: 278 | ||
| abstain | Total Seats: 0 |
| Random fact: Zardugal is a nation based on the old Byzantine Empire, with a modern twist and the Esperanto language. Zardugal is located on the continent of Majatra. |
| Random quote: "We never know the worth of water 'til the well is dry." - Thomas Fuller |