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Bill: Introduction of Class Tax System
Details
Submitted by[?]: Federalist 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 pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: April 3626
Description[?]:
This bill shall introduce a 'Class Tax System'. This shall base the collection of tax on one's income. This shall result in more money being collected that can go back into the National Budget next year. If implemented, it shall reduce taxes for the poor by dividing the collection across several different brackets, and increases taxes for those slightly more wealthy. The Maths: The previous taxes provided 146Bn in revenue, the introduction of this system will increase Government revenue from taxes to 162Bn whilst reducing taxes for those who are on low incomes. |
Proposals
Article 1
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 ALO | 15% | 8,821,000,000 ALO |
> 1,000 ALO | 20% | 11,773,000,000 ALO |
> 2,000 ALO | 24% | 40,769,000,000 ALO |
> 5,000 ALO | 34% | 26,065,000,000 ALO |
> 7,000 ALO | 40% | 28,607,000,000 ALO |
> 10,000 ALO | 45% | 11,889,000,000 ALO |
> 12,000 ALO | 48% | 8,355,000,000 ALO |
> 14,000 ALO | 58% | 26,012,000,000 ALO | Total | 162,291,000,000 ALO |
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
Vote | Seats | |||
yes | Total Seats: 144 | |||
no | Total Seats: 0 | |||
abstain |
Total Seats: 131 |
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