We are working on a brand new version of the game! If you want to stay informed, read our blog and register for our mailing list.
Bill: Income tax proposal of February 3663
Details
Submitted by[?]: Hosian Democratic Alliance
Status[?]: defeated
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: October 3663
Description[?]:
| This income tax proposal would go some way towards closing the budget deficit generated by the Coalition of Loyalists and their allies. |
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 |
| > 5,000 DAR | 20% | 57,671,000,000 DAR |
| > 10,000 DAR | 40% | 518,081,000,000 DAR |
| > 40,000 DAR | 50% | 291,294,000,000 DAR | Total | 867,046,000,000 DAR |
Debate
These messages have been posted to debate on this bill:
| Date | 01:22:21, May 08, 2014 CET | From | Loyalistische Partei | To | Debating the Income tax proposal of February 3663 |
| Message | Ridiculous brackets. People would have greater earnings at 35000 than they would at 40000 for example. |
| Date | 01:53:51, May 08, 2014 CET | From | Hosian Democratic Alliance | To | Debating the Income tax proposal of February 3663 |
| Message | OOC: I think you are confused, Khaler. A person earning 35,000 would pay 11,000 in tax, taking home 24,000 after tax, whereas a person earning 40,000 would pay 13,000 in tax, taking home 27,000 after tax. For example, the person earning 35,000 pays tax as follows... 1-5000: pays 0 tax 5000-10,000: pays 1000 tax. ie. (10,000-5000) x O.2 10,000-35,000: pays 10,000 tax. ie. (35,000-10,000) x O.4 Total tax paid: 11,000 |
| Date | 13:06:46, May 08, 2014 CET | From | Communist Party of Darnussia | To | Debating the Income tax proposal of February 3663 |
| Message | Someone earning 40,000 would pay 50%: i.e. 20,000. |
| Date | 13:31:02, May 08, 2014 CET | From | Hosian Democratic Alliance | To | Debating the Income tax proposal of February 3663 |
| Message | OOC: Income tax confuses a lot of people, but let me try again to explain. Somebody earning 40,000 would pay 13,000 tax, as follows: 1-5000: pays 0 tax 5000-10,000: taxed at 20%, ie. pays 1000 tax 10,000-40,000 taxed at 40%, ie pays 12,000 tax So in total, a person earning 40,000 will pay 13,000 tax, taking home 27,000 after tax. For another example of how this works, see www.economicshelp.org/blog/1703/economics/income-tax-rates-explained/ |
| Date | 20:47:05, May 08, 2014 CET | From | Loyalistische Partei | To | Debating the Income tax proposal of February 3663 |
| Message | OOC: That is the case in.... UK and other countries with marginal tax rate system. Now where is it said that Darnussia has a marginal tax rate system? |
| Date | 22:59:08, May 08, 2014 CET | From | Hosian Democratic Alliance | To | Debating the Income tax proposal of February 3663 |
| Message | OOC: If you examine my income tax proposal, you will see there are 3 marginal rates of tax. Income earned between 5000 and 10,000 is taxed at 20%, income earned between 10,000 and 40,000 is taxed at 40% and income earned over 40,000 is taxed at 50%. |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | |||
| yes | Total Seats: 32 | |||
| no | Total Seats: 151 | |||
| abstain |
Total Seats: 62 |
| Random fact: The forum contains a lot of useful information, it has updates to the game, role playing between nations, news and discussion. http://forum.particracy.net/ |
| Random quote: "You cannot help men permanently by doing for them what they could and should do for themselves." - Abraham Lincoln |