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Bill: Taxation Reform Act (Amended) April 3422
Details
Submitted by[?]: One Nation Conservative Party
Status[?]: passed
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: May 3423
Description[?]:
The One Nation Conservative Party (IKMP) propose to adjust the government's income tax policy to better address the economic situation of the Pntek Wrntunyfkai Jezknstat (Pontesi). |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 20
Current: 15
Proposed: 12
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 2
Current: 10
Proposed: 0
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 33
Current: 25
Proposed: 20
Article 4
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 |
> 14,000 PON | 10% | 63,308,000,000 PON |
> 25,000 PON | 30% | 221,217,000,000 PON |
> 50,000 PON | 40% | 317,197,000,000 PON | Total | 601,722,000,000 PON |
Debate
These messages have been posted to debate on this bill:
Date | 16:37:30, January 06, 2013 CET | From | One Nation Conservative Party | To | Debating the Taxation Reform Act (Amended) April 3422 |
Message | The levels of income taxation placed on higher earners was outrageous, not thought through and damaging to the economy. The 70% rate is only used by the most socialist wealth-fearing governments in Terra and is purely a tool of politicians to demonstrate to the poor that they are punishing the successful. It actually raises no additional revenue and only serves in continuing a flight of wealth outside of the country. We want to make this country business friendly and open to investment. An aspect of opening up the economy is to attract investors and keep them here. Having degrading levels of taxation on success not only stops investors and entrepreneurs from returning to Pontesi but, as a result, it hurts our lower income taxpayers who do not benefit from a higher employment rate. The reduction in the astronomical 33% tax on non-essential items is necessary in order to inhibit the significant inflation rate which is a result of rising prices. There is far more to the economy than simple taxation and so we should be attempting to lower prices, increase consumer spending, lower inflation and establish Pontesi as a vibrant economy rather than one weighed down by excessive taxation and inflation. |
Date | 12:02:28, January 07, 2013 CET | From | One Nation Conservative Party | To | Debating the Taxation Reform Act (Amended) April 3422 |
Message | If there are no further objections, we shall put this bill to vote. |
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Voting
Vote | Seats | |
yes | Total Seats: 212 | |
no | Total Seats: 193 | |
abstain |
Total Seats: 0 |
Random fact: Once approved, players should copy Cultural Protocols into a bill in the debate section of their nation page, under the title of "OOC: Cultural Protocols". This bill should include links to the passed Cultural Protocol bill and the Moderation approval. |
Random quote: "Politics is not a bad profession. If you succeed there are many rewards, if you disgrace yourself, you can always write a book." - Ronald Reagan |