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 December 3775 (Tax Reform Part I)
Details
Submitted by[?]: Keymon New Frontier 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: August 3776
Description[?]:
| Mr Speaker, as promised by the KNFP before the elections, we will implement tax reform within one year. This bill aims to implement the election pledge of imposing a single rate of 8% on all incomes residing in Keymon. Additionally, we have taken the lowest income bracket out of tax altogether, starting at > 2,500 KED. This reform will stimulate consumption and investment and will also encourage people from overseas who wish to leave the confiscatory tax rates of their respective countries behind them and move their wealth to Keymon, thus increasing our revenue. Detlef Morrison MGA Minister of Finance |
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 |
| > 2,500 KED | 8% | 10,495,000,000 KED | Total | 10,495,000,000 KED |
Debate
These messages have been posted to debate on this bill:
| Date | 14:12:25, December 20, 2014 CET | From |  Liberal Party of Keymon | To | Debating the Income tax proposal of December 3775 (Tax Reform Part I) |
| Message | Mr. Speaker, While we believe that there are some elements of this reform that are meritable, including raising the minimum income at which one starts paying taxes, we cannot support a flat tax, as such a policy will radically decrease government revenue and disproportionately favor high-income earners. Therefore, we will be voting against this proposal. |
| Date | 20:58:45, December 20, 2014 CET | From | Keymon New Frontier Party | To | Debating the Income tax proposal of December 3775 (Tax Reform Part I) |
| Message | Mr Speaker, the objection put forward by the honorable gentleman is proven wrong by the fact that the estimated revenue projected for this tax code we are proposing implies that some 2 billion KED more will be collected by the government than the progressive tax code has brought. Therefore, there is no trace of any "radical decrease" whatsoever as he has suggested. Detlef Morrison MGA Finance Minister |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | |
| yes | Total Seats: 117 | |
| no |
Total Seats: 112 | |
| abstain | Total Seats: 1 |
| Random fact: Party organizations are eligible for deletion if they are over 50 in-game years old, do not have at least 1 active member or are historically significant and possess historically significant information. |
| Random quote: "The man who prefers his country before any other duty shows the same spirit as the man who surrenders every right to the state. They both deny that right is superior to authority." - John Dalberg-Acton |