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Bill: Ammended Budget Bill Part A: Income Tax Bill
Details
Submitted by[?]: Court of Shades
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: March 3877
Description[?]:
| This Bill reduces the simplification of the tax brackets to redirect the savings to Corporate Tax and Sales Tax Cuts |
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 |
| > 1,250 LOD | 5% | 3,536,000,000 LOD |
| > 2,500 LOD | 10% | 5,804,000,000 LOD |
| > 3,750 LOD | 15% | 5,343,000,000 LOD |
| > 5,000 LOD | 20% | 4,252,000,000 LOD |
| > 6,250 LOD | 25% | 3,201,000,000 LOD |
| > 7,500 LOD | 30% | 2,740,000,000 LOD |
| > 8,750 LOD | 35% | 1,995,000,000 LOD |
| > 10,000 LOD | 40% | 1,094,000,000 LOD |
| > 11,250 LOD | 45% | 349,000,000 LOD |
| > 12,500 LOD | 50% | 87,000,000 LOD | Total | 28,401,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 08:08:19, July 15, 2015 CET | From | Social Labor Coalition | To | Debating the Ammended Budget Bill Part A: Income Tax Bill |
| Message | Mr. Speaker, We hope that the Shadow Alliance took our grievances into consideration whilst revising the tax schedule; as it stands, we are much more pleased with this proposal as it is more comprehensive and truly progressive. Thus, we will support this income tax bill. Yulie Kim Spokeswoman for Financial Affairs M.P. for Callaghan |
| Date | 08:26:43, July 15, 2015 CET | From | Court of Shades | To | Debating the Ammended Budget Bill Part A: Income Tax Bill |
| Message | Mr Speaker, We appreciate PLF's support. I will assure Ms Kim that her concerns were indeed considered. By increasing the number of brackets to 10, it will greatly reduce the ability of people to be able to play the system. The tax reforms are not designed to help the rich, and we welcomed suggestions that PLF members have been giving us. This newly designed tax package finds the optimal middle ground of having a workable tax system AND avoiding tax evasion. Once again, I appreciate PLF's support, and I look forward to working with them on my next budgetary reforms. Takeshi Manganji FInance Minister. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 407 | ||||
| no | Total Seats: 150 | ||||
| abstain | Total Seats: 42 |
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