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Bill: KFS Advice, 3487-3488
Details
Submitted by[?]: Great National Republican Guard
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: April 3488
Description[?]:
| KFS officials advise that we strengthen our economy by adopting these new finance policies. The KFS is known, around the world, for being the most thorough assessor of economies. We assume that they plan to restore Lodamun to its rightful position as the banking power of the world. -- Corporation tax currently drives job-providing entities away from Lodamun. If we lower the tax, we may end up having more of these corporations, and even more revenue from corporation tax (considering that there will be more corporations to get tax from). Our welfare programmes will ensure the most needy citizens have their essential goods. There should be a small tax on essential goods for the citizens (especially the wealthy citizens) who can afford them on their own. We will use the revenue, from this tax, to provide the needy citizens with the same essential goods. Having no taxes only allows the wealthy class to hoard essential goods. We should lower taxes on luxury goods. This will possibly allow our common citizens to afford luxuries that are only available to the wealthy classes in other countries. When more persons are able, and encouraged, to buy luxury goods, the increased demand will allow job opportunities for the innovative persons who wish to create them. Our society must be a creative one. A more consistent tax system, i.e. better arrangement of income tax brackets, will guarantee a higher revenue in this case. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 85
Current: 30
Proposed: 10
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 5
Proposed: 5
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 31
Current: 25
Proposed: 10
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 |
| > 1 LOD | 15% | 10,754,000,000 LOD |
| > 1,250 LOD | 18% | 12,738,000,000 LOD |
| > 2,500 LOD | 21% | 12,195,000,000 LOD |
| > 3,750 LOD | 24% | 8,550,000,000 LOD |
| > 5,000 LOD | 27% | 5,739,000,000 LOD |
| > 6,250 LOD | 30% | 3,843,000,000 LOD |
| > 7,500 LOD | 33% | 3,018,000,000 LOD |
| > 8,750 LOD | 36% | 2,053,000,000 LOD |
| > 10,000 LOD | 39% | 1,066,000,000 LOD |
| > 11,250 LOD | 42% | 325,000,000 LOD |
| > 12,500 LOD | 45% | 78,000,000 LOD | Total | 60,359,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
| Vote | Seats | ||
| yes | Total Seats: 0 | ||
| no | Total Seats: 749 | ||
| abstain | Total Seats: 0 |
| Random fact: Players who deliberately attempt to present a misleading picture of the nation's current RP laws will be subject to sanction. |
| Random quote: "We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice." - Friedrich August von Hayek |