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Bill: Income tax Reform and Simplification Act
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 not pass any sooner than the deadline.
Voting deadline: December 3816
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. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 35
Current: 0
Proposed: 20
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 20
Current: 0
Proposed: 25
Article 3
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 |
| > 10,000 SOL | 4% | 40,372,000,000 SOL |
| > 30,000 SOL | 15% | 92,614,000,000 SOL |
| > 50,000 SOL | 30% | 134,455,000,000 SOL |
| > 80,000 SOL | 40% | 76,501,000,000 SOL |
| > 100,000 SOL | 45% | 66,608,000,000 SOL | Total | 410,550,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 05:14:04, March 16, 2015 CET | From | SUN | To | Debating the Income tax Reform and Simplification Act |
| Message | We can not vote for Article 1 or any decrease to corporate tax. Article 2, we support. Article 3, we oppose any increase to middle-class tax rates. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 300 | |||
| no | Total Seats: 225 | |||
| abstain | Total Seats: 0 |
| Random fact: Discuss flag designs at the Flag Designs thread: http://forum.particracy.net/viewtopic.php?f=5&t=37 |
| Random quote: "It is never too late to give up our prejudices." - Henry David Thoreau |