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Bill: Revised Budget Part 1: Income tax proposal of December 3269
Details
Submitted by[?]: Democratic Action Party
Status[?]: defeated
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 3270
Description[?]:
| The Democratic Action Party propose to adjust the government's income tax policy to better address the economic situation of the United Federal Republic of Telamon. This new tax bill, revised in light of the increased revenue from the luxury tax increase, is offered as one half of the new overall national budget. At present, there is a 15.3 billion pound surplus in the national treasury. This tax plan constitutes a decrease in taxes of between 4 and 9% for all tax payers, with an overall tax cut of 3.996 billion pounds. The expansion of the number of tax brackets improves the progressive nature of the tax system, better directing higher rates at those most able to pay. The forthcoming spending plan will put the remaining 11.358 billion pounds to work in such vital fields as healthcare, justice, defense, and other areas. We would be happy to entertain further revisions to this bill. |
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 |
| > 4,000 TPD | 26% | 10,194,000,000 TPD |
| > 5,000 TPD | 31% | 8,691,000,000 TPD |
| > 6,000 TPD | 36% | 6,686,000,000 TPD |
| > 7,000 TPD | 41% | 6,121,000,000 TPD |
| > 8,000 TPD | 46% | 24,363,000,000 TPD | Total | 56,055,000,000 TPD |
Debate
These messages have been posted to debate on this bill:
| Date | 12:45:23, March 08, 2012 CET | From | Catholic Political Union | To | Debating the Revised Budget Part 1: Income tax proposal of December 3269 |
| Message | Mr. Speaker, This proposal further complicates the tax system by introducing more tax bands, and fails to raise the revenue we need to support key public services. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 224 | ||||
| no | Total Seats: 144 | ||||
| abstain |
Total Seats: 232 |
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