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Bill: Income tax proposal of May 3303
Details
Submitted by[?]: Republican Party of Lodamun
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: January 3304
Description[?]:
| On behalf of the Ministry of Finance, I am proposing a tax-package with the objective of removing the deficit. We're cutting the lowest bracket, in order to ensure that everyone contributes to our welfare state. Together with this, we're introducing a 5% corporate tax rate, because if we're asking the less forunate to contribute, we should also ask the corporations of Lodamun. This is a refined approach that will ensure the financial stability of our country. Minister of Finance, Abraham Goldfarb |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 0
Current: 30
Proposed: 5
Article 2
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 |
| > 500 LOD | 20% | 17,231,000,000 LOD |
| > 2,000 LOD | 25% | 13,272,000,000 LOD |
| > 3,000 LOD | 35% | 42,358,000,000 LOD | Total | 72,861,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 01:50:21, May 14, 2012 CET | From | Lodamun Conservative Coalition | To | Debating the Income tax proposal of May 3303 |
| Message | We appreciate the Republican Party and its leadership in the executive and financial office to quickly come up with an economic plan for this problem. We would like to sit with them and with other parties in the meeting that i have opened to come up with a economic plan that would work for all parties. We will vote no. We dont believe we should be taxing low income families when we have many many other options that we can execute. If this tax plan is passed, the lower class will actually have a heavier tax burden than corporations. If we truly want to tax the upper class, we should created a new bracket for the upper class, that way we wont hurt small and medium size bussiness. Victor Augustus Senator of The Lodamun Conservative Coalition and Party Leader |
| Date | 14:22:17, May 14, 2012 CET | From | United Republics Party | To | Debating the Income tax proposal of May 3303 |
| Message | OOC: Totally agree on this one with LCC. 500 LOD is 5000 USD. Corporate tax rates produce little return in Lodamun. Let's create a new bracket for the very rich and/or slash defense spending. |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 49 | ||
| no | Total Seats: 51 | ||
| abstain | Total Seats: 0 |
| Random fact: Dorvik is a nation based on Germanic and old Prussian cultures, it is located on the far north of Artania, making it an almost arctic nation. |
| Random quote: "Ask the experimenters why they experiment on animals, and the answer is: "Because the animals are like us." Ask the experimenters why it is morally okay to experiment on animals, and the answer is: "Because the animals are not like us." Animal experimentation rests on a logical contradiction." - Charles R. Magel |