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Bill: FEDP Agenda 11 and a half: Taxation
Details
Submitted by[?]: Fin Ega Defo
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: September 3254
Description[?]:
| The Social Democrats have raised the point that working class people would see higher taxes under my previous proposal. Under this proposal, those earning less than COB 9500 will see their taxes decreased, while those earning above that will see them increase. After COB 10000 (where I would say the Coburan working class most definitely ends), the tax rises are steeper than in the previous proposal. Note: Someone earning what I consider to be the average wage (12,500) would be paying 10.2% of their total earnings in income tax, as opposed to the 8.2% of their earnings they would currently pay. With the Sales tax decrease, I would say that much of this increase would be soaked up. Someone earning the apparent maximum salary of 36,000 COB would be paying 31.3% of their total earnings in income tax, as opposed to the 22.1% presently they currently pay. A corresponding budget would pour money into Transport, Infrastructure, Health and other subsidies (though we remain a party opposed to state ownership of industry) EDIT: We also include our Corporation and Sales Tax proposals, which will make life cheaper in Cobura while reaping the benefits of business. Overall we anticipate an increased tax intake of 6,673,985,506 COB with these measures. We invite discussion on them. |
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 |
| > 3,000 COB | 5% | 5,641,000,000 COB |
| > 5,000 COB | 7% | 3,490,000,000 COB |
| > 6,000 COB | 9% | 5,816,000,000 COB |
| > 7,500 COB | 13% | 10,104,000,000 COB |
| > 10,000 COB | 25% | 9,872,000,000 COB |
| > 12,000 COB | 30% | 12,533,000,000 COB |
| > 15,500 COB | 35% | 8,037,000,000 COB |
| > 19,000 COB | 40% | 4,462,000,000 COB |
| > 23,000 COB | 45% | 2,201,000,000 COB |
| > 28,000 COB | 50% | 2,421,000,000 COB | Total | 64,577,000,000 COB |
Debate
These messages have been posted to debate on this bill:
| Date | 11:55:49, February 03, 2012 CET | From |  Party for Individualism and Kitties | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | Important queation by the way: when you say average earning is 12500.. Is thia per month or per year. Both seems unrealistic as average, don't you think? Are you sure we tax people the right way?^^ Anyway i would support the incme tax, but not the rest. |
| Date | 17:09:22, February 03, 2012 CET | From | Party for Individualism and Kitties | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | And corp tax already has changed now ;) |
| Date | 05:36:48, February 05, 2012 CET | From | Fin Ega Defo | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | I'm guessing its 12500 because most people earn between 4000 and 25000 and then very few earn higher than that. It's only unrealistic if you think of the Cobur being as valuable in Terra as say the Pound, Euro or Dollar are in RL. Will withdraw the other articles and just put the one on income tax. |
| Date | 07:25:17, February 05, 2012 CET | From | Nov Agrara Ligo de Koburo (NAL) | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | I think the general consensus is that 1 LOD = 1 USD (RL). If that is the case, the average Coburan makes roughly $27,505 (€20,910) per annum according to FED. Where I come from, the current exchange rate makes that about 18 polar bear pelts. |
| Date | 09:31:39, February 05, 2012 CET | From | Party for Individualism and Kitties | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | okay, thanks :) |
| Date | 19:50:53, February 05, 2012 CET | From | True Representation Party | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | Under no circumstances will I agree that the government should be allowed to steal 50% of a persons income |
| Date | 20:02:34, February 05, 2012 CET | From | Nov Agrara Ligo de Koburo (NAL) | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | OOC: Is that a serious comment? Taxation does not equal stealing. |
| Date | 21:06:12, February 05, 2012 CET | From | Fin Ega Defo | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | ^As said in the Introduction to the bill, no one will be taxed 50% of their income. They will be taxed 50% of the very last bit of their income. Someone earning the largest salary in Cobura will be paying less than a third of their income in income tax. |
| Date | 12:43:40, February 06, 2012 CET | From | Party for Individualism and Kitties | To | Debating the FEDP Agenda 11 and a half: Taxation |
| Message | According to Economic Protocols we still are considered as very low income-tax. The revenue measures 11% of GDP only, which is really low, so noone can be said to be taxed too high ;) |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 386 | |||||
| no | Total Seats: 159 | |||||
| abstain | Total Seats: 120 |
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