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Bill: Tax Reform and Simplification
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: August 3821
Description[?]:
| Given the current budgetary deficit we wish to propose a compromise on tax reform. Hopefully this bill incorporates a more overarching tax reform that all the parties can agree on. It simplifies our income tax whilst simultaneously raising the corporate income tax as well as luxury taxes. This should incorporate many of the things that parties like. The LPS likes a lower income tax, the Nationalists, SDP, and FT like higher corporate and luxury taxes. Hopefully this is a better compromise than some of the other proposals that we have seen in the past. It should also bring in enough revenues that we can forget about a further budget cut (as the FT has expressed concerns about). |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 25
Current: 25
Proposed: 30
Article 2
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 20
Current: 15
Proposed: 30
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 |
| > 20,000 SOL | 10% | 80,326,000,000 SOL |
| > 40,000 SOL | 20% | 90,116,000,000 SOL |
| > 60,000 SOL | 30% | 76,834,000,000 SOL |
| > 80,000 SOL | 40% | 135,492,000,000 SOL | Total | 382,768,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 01:18:27, March 26, 2015 CET | From |  Free Democratic Party | To | Debating the Tax Reform and Simplification |
| Message | "You realize that a further budget cut would be the best possible thing for Solentia at this moment. We need to cut at least 10% of the budget, and that's a huge compromise. We'd cut 50% if we didn't believe in the power of moderation and compromise." ~William Paul, Minister of Finance |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 384 | ||||
| no | Total Seats: 52 | ||||
| abstain |
Total Seats: 89 |
| Random fact: Real-life quotations may be used in Particracy, but the real-life speaker or author should always be referenced in an OOC (out-of-character) note alongside the quotation. |
| Random quote: "Politics is too serious a matter to be left to the politicians." - Charles de Gaulle |