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Bill: FEDP Progressive Tax Cut 3403
Details
Submitted by[?]: Fin Ega Defo
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: October 3404
Description[?]:
| The FinEquaDef Platform propose to adjust the government's income tax policy to better enable redistribution of the wealth, whilst also giving a tax cut to all workers earning COB 20,000 or less - which is well above the average Coburan wage (which is about 12,000). Here are some examples of a worker's income tax bill following this cut: Earning (p/Annum) --- Tax Bill Now --- New Tax Bill --- Saving/Increase (% Saving/Increase) COB 3,000 --- COB 100.00 --- COB 0.00 --- COB -100.00 (3.33% of income saved) COB 6,000 --- COB 450.00 --- COB 415.00 --- COB -35.00 (0.58% of income saved) COB 9,000 --- COB 1,050.00 --- COB 945.00 --- COB -105.00 (1.17% of income saved) COB 12,000 --- COB 1,900.00 --- COB 1,605.00 --- COB -295.00 (2.46% of income saved) COB 15,000 --- COB 2,425.00 --- COB 2,200.00 --- COB -225.00 (1.50% of income saved) COB 20,000 --- COB 4,500.00 --- COB 4,460.00 --- COB -50.00 (0.45% of income saved) Someone earning the de facto maximum wage in Cobura (about 36,400) would be paying, under this scale, a total of 34.8% of their income in income tax, a rise of 2.82%. Someone would have to be earning over COB 90,000 before this tax scale took away a majority of their gross pay. |
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 | 10% | 2,844,000,000 COB |
| > 3,500 COB | 13% | 3,697,000,000 COB |
| > 4,000 COB | 15% | 15,824,000,000 COB |
| > 6,000 COB | 17% | 7,580,000,000 COB |
| > 7,000 COB | 18% | 6,932,000,000 COB |
| > 8,000 COB | 19% | 11,209,000,000 COB |
| > 10,000 COB | 22% | 4,782,000,000 COB |
| > 11,000 COB | 25% | 4,421,000,000 COB |
| > 12,000 COB | 28% | 4,226,000,000 COB |
| > 13,000 COB | 31% | 3,736,000,000 COB |
| > 14,000 COB | 34% | 3,501,000,000 COB |
| > 15,000 COB | 37% | 6,926,000,000 COB |
| > 17,500 COB | 40% | 5,077,000,000 COB |
| > 20,000 COB | 43% | 2,629,000,000 COB |
| > 22,500 COB | 45% | 1,380,000,000 COB |
| > 25,000 COB | 48% | 1,116,000,000 COB |
| > 27,500 COB | 50% | 713,000,000 COB |
| > 30,000 COB | 53% | 755,000,000 COB |
| > 32,500 COB | 55% | 784,000,000 COB |
| > 35,000 COB | 60% | 496,000,000 COB | Total | 88,628,000,000 COB |
Debate
These messages have been posted to debate on this bill:
| Date | 14:43:57, November 30, 2012 CET | From |  Coburan Socialist Party | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | Deficit? |
| Date | 14:54:00, November 30, 2012 CET | From | Independent Citizens' Party | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | I don't need to criticize, but would it be better if we had a balanced tax for people and/or citizens in my opinion? |
| Date | 14:54:00, November 30, 2012 CET | From | Independent Citizens' Party | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | I don't need to criticize, but would it be better if we had a balanced tax for people and/or citizens in my opinion? |
| Date | 14:54:54, November 30, 2012 CET | From | Independent Citizens' Party | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | Sorry that I send this message two times. It's just a habit that's all. |
| Date | 14:55:59, November 30, 2012 CET | From | Independent Citizens' Party | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | Balanced tax means neither conservative nor progressive. |
| Date | 19:19:27, November 30, 2012 CET | From | Fin Ega Defo | To | Debating the FEDP Progressive Tax Cut 3403 |
| Message | A progressive taxation system is always far better than a flat or regressive one, in my party's considered opinion. And CSP, I've proposed a corresponding spending cut as well. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 227 | ||||
| no |
Total Seats: 57 | ||||
| abstain |
Total Seats: 216 |
| Random fact: Hundreds of vessels were lost while traversing the cold waters of the Sea of Lost Souls. It is located between Seleya and Majatra. |
| Random quote: "Victory attained by violence is tantamount to a defeat, for it is momentary." - Mahatma Gandhi |