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: Tax Reform
Details
Submitted by[?]: Unión Radical
Status[?]: passed
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: September 3764
Description[?]:
| Mr Speaker, We propose a new tax system where there only are three tax brackets where everyone will pay less in taxes than before. We would like to finance this proposal by taxing corporations with 10% and use the rest of the money we get from the rising corporation taxes to invest in the public sector. We hope we will get the support from all the parties in the National Congress, but especially from our coalition partner. We are more than happy to negotiate this reform with all the parties in Congress, so join the debate! Anna Smith Minister of Finance Unión Radical |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 0
Current: 0
Proposed: 10
Article 2
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 |
| > 20,000 BLD | 20% | 179,101,000,000 BLD |
| > 40,000 BLD | 35% | 169,074,000,000 BLD |
| > 60,000 BLD | 50% | 182,263,000,000 BLD | Total | 530,438,000,000 BLD |
Debate
These messages have been posted to debate on this bill:
| Date | 20:39:30, November 25, 2014 CET | From | Baltusia Partido Conservador | To | Debating the Tax Reform |
| Message | Mr. Speaker, My party does not agree with this tax reforms, we strongly oppose a Corporation tax as it will drive companies out of our nation and send them to nations with no corporate tax therefore reducing competition in sectors which will allow monopolies. As for the new tax brakets, it looks very strange and sketchy. We think that this will drive our nation into debt by atleast 100 Billion BLD. Merri Merrorkka Shadow Minister for Finance, Conservative, MP |
| Date | 21:14:10, November 25, 2014 CET | From | Unión Radical | To | Debating the Tax Reform |
| Message | Mr Speaker, A 10% tax on corporations would result in over 250.000.000.000 BLD in increased tax revenues so we should get a rather large budget surplus. But I do not buy that premise of yours that corporations will move their businesses elsewhere due to a relative small tax on corporations. If we have an effective and well educated workforce, good infrastructure, an helpful hand to new corporations and so on only a few corporations will shut down their activities here and move elsewhere. And quite frankly I would like them to leave if they don't wish to contribute to the system that has helped them make great corporations. The current tax brackets kill economic growth since there is so short distance between the brackets that a lot of people actually will loose money by working more. Anna Smith Minister of Finance Unión Radical |
| Date | 21:49:32, November 25, 2014 CET | From | Partido Popular radicales | To | Debating the Tax Reform |
| Message | Mr Speaker, The Tax reform is a welcoming change. For too long companies have been exempted from taxation.It was about time. |
| Date | 21:54:20, November 25, 2014 CET | From | Unión Radical | To | Debating the Tax Reform |
| Message | OOC: The program I used for calculating the corporation tax may be a bit confusing. If I have made any error we can change it, but 250.000.000.000 BLD is what it said. |
| Date | 22:49:58, November 25, 2014 CET | From | Unión Radical | To | Debating the Tax Reform |
| Message | OOC: The calculation is false... My bad.. Stupid program.. |
| Date | 23:49:38, November 25, 2014 CET | From | Baltusia Partido Conservador | To | Debating the Tax Reform |
| Message | Mr. Speaker, Yet the UR still support it and want it to pass, shameful. Merri Merrorkka Shadow Minister of Finance Conservative, MP |
| Date | 23:50:11, November 25, 2014 CET | From | Baltusia Partido Conservador | To | Debating the Tax Reform |
| Message | OOC: Please don't let this pass, we will have the biggest deficit in Terra :( |
| Date | 00:23:44, November 26, 2014 CET | From | Unión Radical | To | Debating the Tax Reform |
| Message | OOC: It can easily be fixed. |
| Date | 00:37:04, November 26, 2014 CET | From | Baltusia Partido Conservador | To | Debating the Tax Reform |
| Message | OOC: How are you going to get rid of a 100 billion dollar deficit? |
| Date | 03:20:27, November 26, 2014 CET | From | Unión Radical | To | Debating the Tax Reform |
| Message | OOC: Adjust the taxes or cut somewhere in the budget. |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | ||
| yes |
Total Seats: 255 | ||
| no | Total Seats: 167 | ||
| abstain | Total Seats: 0 |
| Random fact: Bill descriptions must be in English, or at least include a full English translation. Bill titles may appear in a language that is appropriate to the nation and are not required to be translated into English. |
| Random quote: "By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." - John Maynard Keynes |