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Bill: Radical Investment Growth Act
Details
Submitted by[?]: Capitalist Working Families
Status[?]: defeated
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: May 3816
Description[?]:
The Capitalist Working Families propose to adjust the government's income tax policy to better address the economic situation of the Commonwealth of Rutania by eliminating marginal tax rates by 50% in all tax brackets to bolster the INVESTMENT component of GDP. |
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 |
> 1,500 RUT | 3% | 2,471,000,000 RUT |
> 3,000 RUT | 6% | 2,634,000,000 RUT |
> 4,000 RUT | 15% | 8,161,000,000 RUT |
> 6,000 RUT | 20% | 6,040,000,000 RUT |
> 8,000 RUT | 22% | 3,261,000,000 RUT |
> 10,000 RUT | 24% | 4,217,000,000 RUT | Total | 26,784,000,000 RUT |
Debate
These messages have been posted to debate on this bill:
Date | 04:28:29, March 15, 2015 CET | From | Rutanian Democratic Party | To | Debating the Radical Investment Growth Act |
Message | Mr. Speaker, We don't think that that the Capitalist Working Families understands that they would be slashing 25 Billion RUT in revenue that go towards the national budget, if a plan were to be in place that would still ensure a surplus we might support but in this case we will not. Jenna Scherer Prime Minister |
Date | 21:51:17, March 16, 2015 CET | From | Capitalist Working Families | To | Debating the Radical Investment Growth Act |
Message | Mr. Speaker, The Capitalist Working Families Party has submitted a budget that is balanced and pays for the 50% tax cut. The fact is that Rutania's INVESTMENT component of GDP is extremely low. A tax cut of this magnitude will boost it up. |
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Voting
Vote | Seats | |||
yes | Total Seats: 98 | |||
no |
Total Seats: 313 | |||
abstain | Total Seats: 51 |
Random fact: When elections in a country are held, all bills in the voting phase are reset to the debate phase. |
Random quote: "A strong body makes the mind strong. As to the species of exercises, I advise the gun. While this gives moderate exercise to the body, it gives boldness, enterprise and independence to the mind. Games played with the ball, and others of that nature, are too violent for the body and stamp no character on the mind. Let your gun therefore be your constant companion of your walks." - Thomas Jefferson |