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Bill: Luxury goods Tax Reduction
Details
Submitted by[?]: Uniao Socialista
Status[?]: defeated
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: July 3605
Description[?]:
| Luxury goods tax is extremely high.We propose a significant 6% cut,which will make certain goods affordable for the low and middle income citizens,and as a precaution a small change in the corporation tax,in case the effect of the lowered luxury goods tax has a terribly bad effect in our economy. Of course if the tax reduction does not cause problems to our National Income the corporation tax will be lowered again to its normal state Minister of Finance, German Aranha |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 24
Current: 12
Proposed: 25
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 36
Current: 27
Proposed: 30
Debate
These messages have been posted to debate on this bill:
| Date | 11:35:45, January 11, 2014 CET | From | União Democrática do Tukarali | To | Debating the Luxury goods Tax Reduction |
| Message | "The luxury tax currently makes up almost 40% of Tukarali's tax revenue, so there is scope for lowering it. However, such a plan has to be carried out in a solid fashion, without throwing the balance of the budget in total disarray, which the proposal as it stands now would do. A 6% reduction of the luxury tax can not be made up for by a 1% raise in corporate tax". Prosper Moleiro, UDT/TDU Finance spokesperson |
| Date | 12:11:12, January 11, 2014 CET | From | Uniao Socialista | To | Debating the Luxury goods Tax Reduction |
| Message | ΟΟC: Come on,that's not the reason.You just want everything to remain in a status quo.Sadly in Particracy you don't own the country you are playing. |
| Date | 11:16:24, January 12, 2014 CET | From | União Democrática do Tukarali | To | Debating the Luxury goods Tax Reduction |
| Message | "The UDT/TDU support a balanced budget, and it is simple mathematics that a 6% reduction of luxury tax (which currently yields 837,054,763,554 TUK) can not be made up by 1% increase in corporate tax (which only yields 102,100,694,015 TUK, about 1/8 of the sum of the luxury tax). To rebalance the budget, it would either be necessary to implent significant cuts to the buget (with the ensuing economic and social consequences) or increase other taxes, which is undesirable as well. As I have said in my earlier contribution, theUDT/TDU sees that there is scope for lowering the luxury tax, but we would prefer to start with a small reduction, with further steps being implemented when the consequences of the firstreduction can be properly assessed and if further reduction would not adversely effect the balance of the budget." Prosper Moleiro, UDT/TDU Finance spokesperson |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 44 | ||
| no | Total Seats: 54 | ||
| abstain | Total Seats: 27 |
| 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: "The root source of wealth is human ingenuity. This has no known bounds, so the amount of wealth in existence can always be increased. That's why capitalism is called 'making money.'" - Marc Geddes |