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Bill: Tax Reform and Simplification
Details
Submitted by[?]: Federal Green Party (FGP)
Status[?]: defeated
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: May 3812
Description[?]:
| The Reform Option proposes to adjust the government's income tax policy to better address the economic situation of the Democratic Republic of Solentia. This greatly cuts taxes for the poorest in our nation who need the cut the most. In order to pay for this tax cut benefiting the poorest and lower middle class of Solentia we propose doubling the Luxury Goods sales tax. This should make up for the budgetary shortfall without requiring any budget cuts whatsoever from the current budget. It also greatly simplifies our tax code whilst simultaneously creating a more progressive tax structure. Please let us know what you think about this idea. Again, no budget cuts, instead we raise taxes on luxuries. A reform that clearly benefits the most vulnerable in our society! |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 10
Current: 0
Proposed: 20
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 |
| > 5,000 SOL | 5% | 14,095,000,000 SOL |
| > 10,000 SOL | 9% | 90,630,000,000 SOL |
| > 30,000 SOL | 20% | 188,575,000,000 SOL |
| > 70,000 SOL | 35% | 109,108,000,000 SOL |
| > 100,000 SOL | 50% | 73,894,000,000 SOL | Total | 476,302,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 17:27:49, March 07, 2015 CET | From | Chann National Party (CNP) | To | Debating the Tax Reform and Simplification |
| Message | There is not enough data on how much revenue will be generated from the increase in luxury tax. We think it is prudent if the luxury tax is passed first and then we look at how much revenue is increased and then cut income taxes afterward. |
| Date | 17:30:38, March 07, 2015 CET | From | Federal Green Party (FGP) | To | Debating the Tax Reform and Simplification |
| Message | This is an entirely reasonable position to take. As such we will propose a separate bill to raise luxury taxes. Then we can make a tax reform that will assure we maintain a budgetary surplus. |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 110 | ||||
| no | Total Seats: 176 | ||||
| abstain |
Total Seats: 139 |
| Random fact: Did you know you can change the official name of your nation? All you need to do is draw up a new name that is in accordance with the Nation Renaming Guide, pass a bill proposing the name change with a two-thirds majority and then post a request to Moderation on the "Renaming Requests" thread. You can change city and region names in this way too. |
| Random quote: "And I said on my program, if, if the Americans go in and overthrow Saddam Hussein and it's clean, he has nothing, I will apologize to the nation, and I will not trust the Bush Administration again." - Bill O'Reilly |