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Bill: Income tax proposal of May 3108
Details
Submitted by[?]: Eredian 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: January 3109
Description[?]:
| The Eredian Party propose to adjust the government's income tax policy to eliminate taxes on the poor and middle class, while racing taxes for the wealthy. This is all in an effort to eliminate the large budget deficit. |
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 |
| > 2,000 RUT | 18% | 5,012,000,000 RUT |
| > 2,500 RUT | 22% | 5,720,000,000 RUT |
| > 3,000 RUT | 30% | 13,169,000,000 RUT |
| > 4,000 RUT | 35% | 11,440,000,000 RUT |
| > 5,000 RUT | 50% | 25,941,000,000 RUT |
| > 8,000 RUT | 55% | 8,140,000,000 RUT |
| > 10,000 RUT | 60% | 8,825,000,000 RUT |
| > 15,000 RUT | 65% | 1,851,000,000 RUT | Total | 80,098,000,000 RUT |
Debate
These messages have been posted to debate on this bill:
| Date | 21:03:00, April 19, 2011 CET | From | National Front | To | Debating the Income tax proposal of May 3108 |
| Message | Mr Speaker, This bill will completely eradicate the budget deficit with the stroke of a pen - the National Front urges parties to support this bill. K. Richard National Front Parliamentarian |
| Date | 21:09:46, April 19, 2011 CET | From | Eredian Party | To | Debating the Income tax proposal of May 3108 |
| Message | Not completely, we still need to cut at least ten to fifteen billion from the budget. |
| Date | 21:19:06, April 19, 2011 CET | From | National Front | To | Debating the Income tax proposal of May 3108 |
| Message | Mr Speaker, Current taxation revenues are 283,943,224,562 RUT, the proposed tax rates will provide revenue of 312,812,000,000. The net increase in taxation will be 28,868,775,438 RUT. Our current deficit is -26,550,444,553 RUT. This bill alone will leave Rutania with a 2,318,330,885 RUT surplus. K. Richard, National Front Parliamentarian |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 449 | ||
| no | Total Seats: 226 | ||
| abstain | Total Seats: 0 |
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| Random quote: "The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn't deliver the goods." - John Maynard Keynes |