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Bill: Income tax proposal of September 3812
Details
Submitted by[?]: Federal Green Party (FGP)
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: June 3813
Description[?]:
The Reform Option of Solentia (ROS) propose to adjust the government's income tax policy to better address the economic situation of the Democratic Republic of Solentia. This proposal is designed to incorporate the wishes of the SDP as expressed here: "We suggest to remove 5,000 tax bracket and cut tax for 10,000 bracket down to 6%." Julia Wise, SDP chairperson - We maintain most of our last tax reform proposals. The only changes are some deeper cuts on the lowest tax brackets. Please let us know if this tax cut is acceptable to your respective parties. We remember that the Unionists did not wish to raise the starting tax bracket as highly as 10,000 (though this would be our ideal). As a result we hope that this bill is an acceptable compromise. It still would cut the income tax of someone currently making 15,000 SOL per year in half! From 900 SOL to 450 SOL. This means someone making 15,000 SOL per year gets a 50% tax cut as well as 450 SOL more money available to spend every single year! We hope that this bill, considering our current budgetary surplus, can also be acceptable as a compromise position, encompassing different ideas and suggestions across multiple party lines. If you have any concerns or suggestions please feel free to express them here. |
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 SOL | 3% | 8,478,000,000 SOL |
> 10,000 SOL | 6% | 33,682,000,000 SOL |
> 20,000 SOL | 9% | 40,320,000,000 SOL |
> 30,000 SOL | 14% | 50,011,000,000 SOL |
> 40,000 SOL | 19% | 49,430,000,000 SOL |
> 50,000 SOL | 25% | 47,887,000,000 SOL |
> 60,000 SOL | 29% | 39,367,000,000 SOL |
> 70,000 SOL | 33% | 39,894,000,000 SOL |
> 80,000 SOL | 37% | 39,022,000,000 SOL |
> 90,000 SOL | 40% | 34,343,000,000 SOL |
> 100,000 SOL | 45% | 23,784,000,000 SOL |
> 110,000 SOL | 50% | 47,649,000,000 SOL | Total | 453,867,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
Date | 01:25:46, March 09, 2015 CET | From | Federal Green Party (FGP) | To | Debating the Income tax proposal of September 3812 |
Message | Another breakdown of what this means for our people: Someone earning 20,000 SOL would pay 750 SOL instead of their current 1350 SOL per year. This is a new effective tax rate of 3.75% as opposed to the current 6.75%. Someone earning 50,000 SOL would pay 4950 SOL instead of their current 6450 SOL per year. This is a new effective tax rate of 9.9% as opposed to the current 12.9%. Someone earning 80,000 SOL would pay 13650 SOL instead of their current 15150 SOL per year. This is a new effective tax rate of 17.0625% as opposed to the current 18.9375% Finally, Someone earning 120,000 SOL would pay 30850 SOL instead of their current 32850 SOL per year. This is a new effective tax rate of 25.71% as opposed to the current 27.375%. |
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Voting
Vote | Seats | |||||
yes | Total Seats: 228 | |||||
no | Total Seats: 0 | |||||
abstain |
Total Seats: 197 |
Random fact: Before creating a party organisation, check to see whether there are any existing organisations which cover the same agenda. |
Random quote: "It is never too late to give up our prejudices." - Henry David Thoreau |