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Bill: Corporate Tax
Details
Submitted by[?]: United People's Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: October 3565
Description[?]:
| Considering that most of those on highest income groups are corporates themselves, who felt it was a lot to pay huge (>60%) income tax, this would come as a breather for you all. Plus, this would help solve the issue to a great extent of companies closing down due to finances in the red, like 2 recent instances in our country, and not forcing us to consider 'bailing them out'. Thus, our employment figures remain balanced that way. A 3% lowering is surely going down for our revenues, but we will still be in considerably high surplus even after such major cuts; will bring down the surplus by only 2.5 Bln BELs, but in the long run, will help grow the overall income grow by larger number of corporates functioning in Beluzia. (Not a one-shot solution, not to please anyone, but definitely fair and worth it all for our economy to look open and progressive, due since a long time.) |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 30
Current: 10
Proposed: 27
Debate
These messages have been posted to debate on this bill:
| Date | 22:20:58, October 22, 2013 CET | From | Encarta Party | To | Debating the Corporate Tax |
| Message | What would this proposed change mean to our income? As well as to our spending? Right now we see no reason to be for or against unless we see some financial figures. |
| Date | 22:36:28, October 22, 2013 CET | From | United People's Party | To | Debating the Corporate Tax |
| Message | OOC: Not more than 2.5 Bln BELs, out of roughly 16 Bln. But this would be a much neede dboost to our industries now and in the long run! Please read the description for a clear picture of the figure and the idea |
| Date | 23:08:09, October 22, 2013 CET | From | Republican Democratic Nationalist Party | To | Debating the Corporate Tax |
| Message | So UPP intends to give tax breaks to corporations as people of Beluzia keep paying high taxes!!! ?? |
| Date | 23:32:15, October 22, 2013 CET | From | United People's Party | To | Debating the Corporate Tax |
| Message | I hope RDNP remembers that it had itself proposed to remove the entire lower income tax payers' bracket, and change he tax structure to accommodate for every income group's potential, which was eventually done, and we are happy about it! So, why would you say we intend to make our people pay high taxes! And no one has increased any tax of any sort here, no burden has been caused to anyone. In fact, this is only a help to our people. Also, Corporations does not mean 'not from Beluzia', there is a law already that limits the role of foreign individuals/corporates in our corporates in any way; no majority can be obtained by the foreigners, even if these corporates in Beluzia are initiated by foreigners. So, ultimately, I think it would be unfair to not consider the corporates who are from Beluzia anyway as people of Beluzia too! It is rather unfortunate that a responsible party like you could come out with such words which lack any judgement and critic. Please read well through the income and spending statements, my bill description, past industry shutdown news, and you'll understand why this is necessary. |
| Date | 23:42:53, October 22, 2013 CET | From | Republican Democratic Nationalist Party | To | Debating the Corporate Tax |
| Message | Just because because companies are provided with tax breakes doesnt mean they will start to reduce their prices of try to be less profitable. RDNP would suggest to decrease income taxes slightly more to so that the people can afford the products of the corporations and thereby boost consumption and in turn the GDP. |
| Date | 23:53:25, October 22, 2013 CET | From | United People's Party | To | Debating the Corporate Tax |
| Message | To answer to you first statement, there's a market regulation in place, and prices cannot go beyond a limit for products/services and below a certain quality. This is an existing law by the constitution! So we do not worry about any of these things you just mentioned! Regarding income taxes, I believe the present income tax levels are already reduced from the old one. Thus, instead of interfering of income taxes again, making this deal with corporate taxes will actually boost consumption and GDP and all. Income tax reductions can be dealt with later, soon enough when we have a satisfying revenue surplus to continue having. It's a lot of hard work and patience on our's and other parties', especially, Encarta's parts, and together with the people's opinions, that took us out of economic losses, debts. Let our people enjoy some revenue peace now! These income taxes are no longer burdening, so should the corporate tax be for our economy. |
| Date | 01:06:31, October 23, 2013 CET | From | Encarta Party | To | Debating the Corporate Tax |
| Message | We are with the UPP in lowering the corporate tax. While our party usually regales in causing pain to Coporate Beluzia, we can't help but find this tax rate to be solid. If it makes the RDNP feel any better though, we could require corporations to have a certain percentage of wages every year towards executive employees in order to take advantage of these tax benefits. This would encourage corporations to pay higher wages to their employees, while enjoying a much lower tax rate. This in turn would give the working men and women of Beluzia a higher salary, offsetting the income tax costs and keeping Beluzia in times of economic prosperity. While this is only a suggestion, we do believe the UPP should agree to such a thing. What do we say? A three percent increase in wages across the board in order to be eligible for the tax cuts? Whatever the answer, we will vote yes and support this whole heartedly. However, we only suggest the above to appease the RDNP |
| Date | 01:15:58, October 23, 2013 CET | From | Republican Democratic Nationalist Party | To | Debating the Corporate Tax |
| Message | I am in agreement :) if thats the case :) |
| Date | 01:16:55, October 23, 2013 CET | From | Republican Democratic Nationalist Party | To | Debating the Corporate Tax |
| Message | Thanks for the consideration |
| Date | 01:26:18, October 23, 2013 CET | From | United People's Party | To | Debating the Corporate Tax |
| Message | Thank you, Encarta! While we don't regulate wages on the whole, except for minimum wage, considering that there is a much lower tax for corporations now, a small 3% wage increase per annum to executive employees won't hurt them, and is actually a great income booster for all in general. Great proposal there, Encarta! Once again, appreciate your brightness! |
| Date | 01:26:56, October 23, 2013 CET | From | United People's Party | To | Debating the Corporate Tax |
| Message | So, if all parties are in support, let's move to voting quickly! |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 250 | ||||
| no | Total Seats: 0 | ||||
| abstain | Total Seats: 0 |
| Random fact: Particracy does not allow real-life fictional references (eg. Gandalf, Harry Potter, Luke Skywalker). |
| Random quote: "Someone who wields power in name only can never compete with those who wield it through action." - Franz Reichert, former Luthorian politician |