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Bill: LPS economic System
Details
Submitted by[?]: Free Democratic Party
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: April 3823
Description[?]:
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Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed but are regulated.
Current: Stock exchanges are allowed but are regulated.
Proposed: The government has no position on the proliferation of stock exchanges.
Article 2
Proposal[?] to change The nation's policy on minimum wage regulation.
Old value:: There shall be a minimum wage at a level considered a "living wage," well above the poverty line for a full time worker.
Current: There is no provision for a minimum wage.
Proposed: There is no provision for a minimum wage.
Article 3
Proposal[?] to change The government's stance on a salary cap.
Old value:: Labour unions and organizations of employers negotiate a salary cap.
Current: The government has no stance on a salary cap.
Proposed: The government has no stance on a salary cap.
Article 4
Proposal[?] to change Government regulation of pollution in industry.
Old value:: The government enforces moderate pollution restrictions.
Current: The government enforces moderate pollution restrictions.
Proposed: Industrial pollution is not regulated by the government.
Article 5
Proposal[?] to change Policy concerning industrial hemp.
Old value:: Industrial hemp regulations are left up to local governments.
Current: Only regulated agribusinesses may produce industrial hemp.
Proposed: There are no regulations on industrial hemp.
Article 6
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Current: The exchange rate of the national currency is allowed to float, and the government does not intervene at all.
Proposed: The exchange rate of the national currency is allowed to float, and the government does not intervene at all.
Article 7
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 |
| > 25,000 SOL | 15% | 182,125,000,000 SOL |
| > 75,000 SOL | 35% | 139,108,000,000 SOL | Total | 321,233,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 12:29:50, March 29, 2015 CET | From | Radical Republican Party (RRP) | To | Debating the LPS economic System |
| Message | We do very much not agree with the article about minimum wage and salary cap. Nor do we agree with another tax cut. Aaron Johnsson Vice-chairman NLP |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 223 | |||||
| no |
Total Seats: 268 | |||||
| abstain | Total Seats: 34 |
| Random fact: Don't put "the" as the first word in your party name, because when parties are referred to in news reports, their names are preceded with "the", e.g. the [Socialist Party] has lost. |
| Random quote: "In a sense we have come to our nation's capital to cash a cheque. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness." - Martin Luther King Jr. |