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Bill: Progressive Income Tax Reform Act of January 3809
Details
Submitted by[?]: Chann National Party (CNP)
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: October 3809
Description[?]:
| The Minister of Finance VALERIE CHANN has directed the Ministry of Finance to conduct a thorough and comprehensive review of the current income tax and have found a need for comprehensive reform for the following reasons: 10k-25k = $15K Difference with a tax differential of 5% 25k-40k = $15K Difference with a tax differential of 5% 40k-60k = $20k Difference with a tax differential of 8% 60k-85k = $25k Difference with a tax differential of 7% In order to create a more equitable tax structure that also implements brackets that make sense, we are proposing expanding taxes to those making between 1K-10k at a rate of 5%. The current tax will raise taxes slightly on middle income earners but that is the result we get when the current tax bracket makes very broad tax structure and leaves large gaps to fill. This will also shift a more heavy tax burden on those making substantial sums. |
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 |
| > 1,000 SOL | 5% | 25,397,000,000 SOL |
| > 10,000 SOL | 9% | 50,450,000,000 SOL |
| > 20,000 SOL | 13% | 58,146,000,000 SOL |
| > 30,000 SOL | 17% | 60,632,000,000 SOL |
| > 40,000 SOL | 21% | 54,545,000,000 SOL |
| > 50,000 SOL | 25% | 47,809,000,000 SOL |
| > 60,000 SOL | 29% | 39,322,000,000 SOL |
| > 70,000 SOL | 33% | 39,851,000,000 SOL |
| > 80,000 SOL | 37% | 38,975,000,000 SOL |
| > 90,000 SOL | 40% | 34,303,000,000 SOL |
| > 100,000 SOL | 50% | 74,005,000,000 SOL | Total | 523,435,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 18:21:22, March 01, 2015 CET | From |  Coalition for National Unity [CNU] | To | Debating the Progressive Income Tax Reform Act of January 3809 |
| Message | "The Unionists are content to back this bill." Kunal Bhati-Idnani, Unionist Legislative Lead |
| Date | 18:23:27, March 01, 2015 CET | From | Free Democratic Party | To | Debating the Progressive Income Tax Reform Act of January 3809 |
| Message | "No more tax increases." ~Ron Rand, Head Chairman of the LCC |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 303 | ||||
| no |
Total Seats: 122 | ||||
| abstain | Total Seats: 0 |
| Random fact: "Spamming", or the indiscriminate posting of unsolicited messages, is not allowed. |
| Random quote: "Casting a vote shouldn't make you sick." - Ronnie Dugger |