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Bill: Income tax proposal of August 3536
Details
Submitted by[?]: Popular 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 not pass any sooner than the deadline.
Voting deadline: April 3537
Description[?]:
| The Popular Party propose to adjust the government's income tax policy to better address the economic situation of the Republic of Dranland. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 20
Current: 15
Proposed: 15
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 0
Proposed: 5
Article 3
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 |
| > 10,000 DRA | 15% | 34,541,000,000 DRA |
| > 14,000 DRA | 20% | 57,568,000,000 DRA |
| > 19,000 DRA | 25% | 158,312,000,000 DRA |
| > 30,000 DRA | 30% | 235,421,000,000 DRA |
| > 50,000 DRA | 35% | 361,857,000,000 DRA | Total | 847,699,000,000 DRA |
Debate
These messages have been posted to debate on this bill:
| Date | 07:42:37, August 27, 2013 CET | From | Popular Action Party 인기있는 행동 | To | Debating the Income tax proposal of August 3536 |
| Message | Mr Speaker, I can not believe that anyone would put so many people through the pain of an essential sales tax, just to lob off 4 points from the income tax top rate. We support an essential goods tax but not one meant to subsidise high income earners. Does Mr Banez truly believe that cutting spending and hiking indirect taxes in the middle of an economic recession will improve the economy? Timothy Omundsson MP DSU Finance Crtic Member for Loren |
| Date | 14:34:07, August 27, 2013 CET | From | Grand National Party | To | Debating the Income tax proposal of August 3536 |
| Message | Mr Speaker, it must be quite obvious even for any economic halfwit that when unemployment is at 10%, consumption or demand is NOT the problem! The lack of investment is, and poor people simply cannot invest and set up the huge new business ventures we need to create jobs. Thus, we need to free resources from government spending and inject them into the private sector via tax cuts for those who can invest. The 6% GST will not hurt anyone excessively given the low inflation we currently have. George Rafferty MP Member for Magadonia RFR Finance Spokesman |
| Date | 15:02:22, August 27, 2013 CET | From | Popular Action Party 인기있는 행동 | To | Debating the Income tax proposal of August 3536 |
| Message | Mr Speaker, Mr Rafferty, your argument makes no sense even to this lackwit. Investment is driven by consumption and demand, investors won't just throw money at weak economic sectors where there is no demand because that would cause a loss and the whole point of creating an enterprise is profit. That is WHY unemployment is so high! Government has to encourage stronger consumption and therefore HIGHER demand. I strongly disagree that a sudden 6% increase to prices while incomes are depressed would not hurt anyone or that it will encourage investment.. Timothy Omundsson MP DSU Finance Crtic Member for Loren |
| Date | 17:49:02, August 27, 2013 CET | From | Grand National Party | To | Debating the Income tax proposal of August 3536 |
| Message | Mr Speaker, once again the Hon. Member is wrong - if demand were the primary engine of growth, we would never have gotten into this crisis, because everyone knows that wages were artificially boosted beyond the market value of labor by the Yates administration recklessly. The recession occurred not because we imposed austerity, but because companies had to lay off people and stopped investing due to crippling regulation, high taxes and generally socialism. Furthermore, one doesn't need to be an academic to perceive a glaring unbalance between the factor of demand, which is taxed zero, and the factor investment, which is taxed twice with 20 and up to 39 percent at the time. George Rafferty MP Member for Magadonia RFR Finance Spokesman |
| Date | 18:06:18, August 27, 2013 CET | From | Popular Action Party 인기있는 행동 | To | Debating the Income tax proposal of August 3536 |
| Message | OOC: Now I'm totally lost, before I was just slightly lost. Say what? |
| Date | 18:31:16, August 27, 2013 CET | From | Grand National Party | To | Debating the Income tax proposal of August 3536 |
| Message | OOC: I'm trying to argue that too low demand is not the problem, but a lack of investment. Sorry if I couldn't get it across^^ My point is that because under Yates wages rose so much (thus higher demand) and nevertheless an economic crisis ensued, more demand can't be the solution to the crisis. |
| Date | 18:46:05, August 27, 2013 CET | From | Popular Action Party 인기있는 행동 | To | Debating the Income tax proposal of August 3536 |
| Message | OOC: No problem, it's more of my poor grasp of economics (I'm more of a Science man) that. i understand now fully what you meant. |
| Date | 19:16:43, August 27, 2013 CET | From | Grand National Party | To | Debating the Income tax proposal of August 3536 |
| Message | OOC: It's hardly imaginable that this profound economic discussion would actually have taken place in a real Parliament haha^^ |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 177 | |||||
| no |
Total Seats: 202 | |||||
| abstain | Total Seats: 20 |
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| Random quote: "We should therefore claim, in the name of tolerance, the right not to tolerate the intolerant." - Karl Popper |