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Bill: [ DEBATE ] Tax Reform and Overhaul
Details
Submitted by[?]: Chann National Party (CNP)
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: December 3288
Description[?]:
| [ THIS IS JUST A PROPOSITION FOR THE REFORM OF THE INCOME TAX SYSTEM ] The Democratic-Republican Party proposes to reform, overhaul, and SIMPLIFY the tax code by making the income tax system FAIRER by instituting incremental increases of 3 percentage points per tax bracket. While some may argue that imposing a tax on those making $1000 amounts to a tax increase, we believe that in order to have an efficient and FAIR tax system, that all citizens must pay tax. We also believe that 5% is a modest rate for those making $1000, who will only have to pay $50 in tax and have a Gross Income of $950. |
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 |
| > 1,000 SOL | 5% | 11,277,000,000 SOL |
| > 5,000 SOL | 8% | 22,554,000,000 SOL |
| > 10,000 SOL | 11% | 31,012,000,000 SOL |
| > 15,000 SOL | 14% | 38,936,000,000 SOL |
| > 20,000 SOL | 17% | 40,543,000,000 SOL |
| > 25,000 SOL | 20% | 41,681,000,000 SOL |
| > 30,000 SOL | 23% | 44,758,000,000 SOL |
| > 35,000 SOL | 26% | 42,058,000,000 SOL |
| > 40,000 SOL | 29% | 40,627,000,000 SOL |
| > 45,000 SOL | 32% | 38,212,000,000 SOL |
| > 50,000 SOL | 35% | 36,007,000,000 SOL |
| > 55,000 SOL | 37% | 252,725,000,000 SOL | Total | 640,390,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 02:24:05, April 11, 2012 CET | From |  Chann National Party (CNP) | To | Debating the [ DEBATE ] Tax Reform and Overhaul |
| Message | This is just a proposal to gauge the interest of other parties to reforming and overhauling the tax code. |
| Date | 02:42:08, April 11, 2012 CET | From | Chann National Party (CNP) | To | Debating the [ DEBATE ] Tax Reform and Overhaul |
| Message | "I present this proposal with the belief that it is a simpler and fairer tax code. I have broken the tax brackets into increments of $5,000. In order to tax these brackets fairly, I start at a base tax rate of 5% and incrementally increase that by 3 percentage points for every tax bracket." "The current tax system lacks logical sense in that each bracket is taxed at different rates without consideration to the gap between one bracket and another and without consideration to fairly distributing that tax on a percentage basis. There is no mathematical consideration involved whatsoever, as I have presented below: > 7,000 SOL 11% > 15,000 SOL 20% Difference = 8,000 / Increase of ^9% > 20,000 SOL 25% Difference = 5,000 / Increase of ^5% > 30,000 SOL 30% Difference = 10,000 / Increase of ^5% > 35,000 SOL 36% Difference = 5,000/ Increase of 6% > 50,000 SOL 37% Difference = 15,000 / Increase of 1% Compare the above with my proposal and ask yourself, 1) Which one makes more sense mathematically, 2) Which one is simpler, and 3) Which one is FAIRER." Flavius Brutus Minister of Finance |
| Date | 05:24:26, April 13, 2012 CET | From | Conservative Party of Solentia | To | Debating the [ DEBATE ] Tax Reform and Overhaul |
| Message | "Ms. Senate Warden, The 2406 Party is happy to lend its support to this most sensible simplification of the Solentian tax structure. Its merits are manifold; it offers a tax break to many of Solentia's citizens who have done their utmost to be fiscally responsible for many years and have laid away surplus so that in hard times there is something to fall back upon. It also more evenly draws taxes from the entire Solentian populous while easing the burden on the middle class. I yield the floor." Blaine White 2406 Party Legislative Lead |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 194 | |||
| no | Total Seats: 48 | |||
| abstain | Total Seats: 183 |
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