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Bill: Treasury Restoration Act : Taxation Bill
Details
Submitted by[?]: Union Socialism Alliance
Status[?]: defeated
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: November 3125
Description[?]:
| "Seeing that I have given this cabinet clear goals to achieve, I am disappointed to see that Minister Oksana Babel has not try to fix the budget problems, but instead let the deficit run for years on end. I am also disappointed that First Minister Steiner has also not brought this to the attention of Minister Babel, and it seems that First Minister Steiner has no plan or isn't the leader a cabinet needs. Therefore, I am taking care of this on my own, and I expect better from First Minister Steinet, Minister Babel and all the other ministers in the cabinet. Either that, or resign and I shall find another suitable cabinet." Chancellor Mac Nava |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 25
Current: 17
Proposed: 50
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 5
Current: 22
Proposed: 12
Article 3
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 |
| > 24,000 IKD | 12% | 58,270,000,000 IKD |
| > 36,000 IKD | 24% | 85,845,000,000 IKD |
| > 48,000 IKD | 36% | 100,116,000,000 IKD |
| > 60,000 IKD | 48% | 109,450,000,000 IKD |
| > 72,000 IKD | 60% | 107,177,000,000 IKD |
| > 84,000 IKD | 72% | 99,694,000,000 IKD |
| > 96,000 IKD | 84% | 104,765,000,000 IKD |
| > 120,000 IKD | 96% | 39,029,000,000 IKD | Total | 704,346,000,000 IKD |
Debate
These messages have been posted to debate on this bill:
| Date | 15:37:33, May 20, 2011 CET | From | Beloved Freedom | To | Debating the Treasury Restoration Act : Taxation Bill |
| Message | Oh my humanity! (God, elan vital, mother nature or whatever you believe) Indeed disastrous tax policy |
| Date | 16:27:46, May 20, 2011 CET | From | Marxist-Leninist Party of Ikradon (LL) | To | Debating the Treasury Restoration Act : Taxation Bill |
| Message | No because of article 1 and 2. |
| Date | 16:41:25, May 20, 2011 CET | From | Union Socialism Alliance | To | Debating the Treasury Restoration Act : Taxation Bill |
| Message | The CFP is against profit tax? Luxury tax yes, but profit tax? In any case, right we need to fix the budget, and voting no won't do that. We ask the CFP to accept this proposal, and amend it later. Luxury tax has been an issue that was debated over and over again, and thus there is no need to debate it again. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 343 | ||||
| no |
Total Seats: 407 | ||||
| abstain |
Total Seats: 0 |
| Random fact: Did you know you can change the official name of your nation? All you need to do is draw up a new name that is in accordance with the Nation Renaming Guide, pass a bill proposing the name change with a two-thirds majority and then post a request to Moderation on the "Renaming Requests" thread. You can change city and region names in this way too. |
| Random quote: "Political institutions are a superstructure resting on an economic foundation." - Vladimir Lenin |