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Bill: Income tax proposal of April 3200
Details
Submitted by[?]: AM Radical Libertarian 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 3202
Description[?]:
| The AM Radical Libertarian Party propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Likatonia. |
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 |
| > 20,000 LIK | 3% | 1,706,000,000 LIK |
| > 25,000 LIK | 4% | 1,625,000,000 LIK |
| > 30,000 LIK | 5% | 1,169,000,000 LIK |
| > 35,000 LIK | 5% | 637,000,000 LIK |
| > 40,000 LIK | 7% | 209,000,000 LIK |
| > 45,000 LIK | 8% | 0 LIK | Total | 5,346,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 17:12:33, October 20, 2011 CET | From | AM Radical Libertarian Party | To | Debating the Income tax proposal of April 3200 |
| Message | Mr. Speaker, As we are currently running a surplus of 31,848,218,619 LIK, the RLP proposes that we return that to the productive citizens who are earning it by reducing the tax rates. This proposal will reduce income tax income from 22,233,170,046 LIK to 5,344,000,000 LIK, and eliminate taxation on those earning less than 20,000 LIK. We believe that those who earn the money have a better idea of the best way to spend it than the government does. |
| Date | 20:40:51, October 20, 2011 CET | From | Likaton Unity Party | To | Debating the Income tax proposal of April 3200 |
| Message | Mr. Speaker, We can agree to this bill so long as the RSL and the Ministry of Defence do not plan on cutting govrnment spending. The surplus will be brought down to a reasonable level, and the lower taxes will give money back to the citizens, all of which are sound economic principles in the opinion of the DEP. We will approve of this bill so long as the Ministry of Defence and RSL promise to not cut spending in any sector. |
| Date | 00:59:43, October 21, 2011 CET | From | AM Radical Libertarian Party | To | Debating the Income tax proposal of April 3200 |
| Message | Mr. Speaker, While we cannot make binding promises for the future, at this point we see no need to cut spending untl we see the results of the tax cuts. Should theat change, we would return to the floor with new spending proposals. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 182 | |||
| no | Total Seats: 0 | |||
| abstain | Total Seats: 119 |
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