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Bill: Income tax proposal of June 3376
Details
Submitted by[?]: Independent 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: February 3377
Description[?]:
The Independent Party propose to adjust the government's income tax policy to better address the economic situation of the United Republics of Lodamun. |
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 |
> 750 LOD | 10% | 1,436,000,000 LOD |
> 1,000 LOD | 15% | 12,772,000,000 LOD |
> 2,500 LOD | 20% | 18,746,000,000 LOD |
> 5,000 LOD | 24% | 8,179,000,000 LOD |
> 7,500 LOD | 30% | 2,592,000,000 LOD |
> 8,670 LOD | 36% | 3,561,000,000 LOD | Total | 47,286,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
Date | 13:16:45, October 07, 2012 CET | From | Green & Liberal Socialist Party | To | Debating the Income tax proposal of June 3376 |
Message | OOC: This post is relying upon the assumption that LOD is similar to real world currencies like Dollars and Sterling. If you have any idea of how to figure out the real world value of LOD it'd be good. IC: Although this progressive tax rate is a step in the right direction, it needs revising. There should be higher tax brackets, if someone is earning over 20,000 LOD per annum they are still paying the same amount of tax as someone who is earning 8,670 which is not fair. |
Date | 18:12:55, October 07, 2012 CET | From | Independent Party | To | Debating the Income tax proposal of June 3376 |
Message | OOC: LOD has traditionally been used as the exchange currency in this game. Some folks in the forums are working on some interesting calculators. For now, there is really no way of figuring that out. However, we can always mutually agree to a specific exchange rate for the purposes of RP. Perhaps 1 LOD= $5 or something like that. IC: Our median income is around 10,000 LOD. There are not that many people who earn over 20,000 LOD. The Independent Party is not interested in overwhelming those earning over 20,000 LOD with a ridiculous rate of taxation. That's basically punishing those who are better of for the sole reason as they are better off. We are willing to discuss certain tax brackets but we do not think the top brackets should be changed. |
Date | 21:54:55, October 07, 2012 CET | From | Free Labour Party | To | Debating the Income tax proposal of June 3376 |
Message | If we reform the tax system, there should by higher taxes for the extreme rich. |
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Voting
Vote | Seats | ||||
yes |
Total Seats: 157 | ||||
no | Total Seats: 0 | ||||
abstain |
Total Seats: 168 |
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