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Bill: Deficit Reduction (Revenues) 3883
Details
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: January 3884
Description[?]:
| The Kern propose to adjust the government's income tax policy to better address the economic situation of the Republic of Narikaton and Darnussia. This proposal works alongside spending reductions to eliminate the structural deficit and bring the nation back into the black. We predict that this proposal shall accomplish just that with an objective of raising the 110bn DR needed to eliminate the remaining minority of the deficit. - Henrik van der Beek, Finance Secretary & Deputy Leader of the Core |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 15
Current: 0
Proposed: 20
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 3
Current: 10
Proposed: 5
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 5
Current: 40
Proposed: 7
Article 4
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 |
| > 7,500 DAR | 17% | 73,676,000,000 DAR |
| > 15,000 DAR | 23% | 60,052,000,000 DAR |
| > 20,000 DAR | 27% | 91,238,000,000 DAR |
| > 27,500 DAR | 33% | 87,657,000,000 DAR |
| > 35,000 DAR | 37% | 53,335,000,000 DAR |
| > 40,000 DAR | 43% | 67,556,000,000 DAR |
| > 47,500 DAR | 47% | 53,118,000,000 DAR |
| > 55,000 DAR | 53% | 32,744,000,000 DAR |
| > 60,000 DAR | 57% | 40,980,000,000 DAR |
| > 67,500 DAR | 63% | 35,962,000,000 DAR |
| > 75,000 DAR | 67% | 82,421,000,000 DAR | Total | 678,739,000,000 DAR |
Debate
These messages have been posted to debate on this bill:
| Date | 01:07:51, July 29, 2015 CET | From | Nationalistische Partij Narikaton | To | Debating the Deficit Reduction (Revenues) 3883 |
| Message | Minister van der Beek, your spending cut package was of the highest quality, and so the Nationalists will support this corollary out of respect for your mission to eliminate the deficit. We believe, however, that the income tax structure proposed represents far too high a tax burden on those earning above 55,000 DAR (no man should give more than half of his income to the state!), and will seek to work with our partners in the Core to distribute any surplus this should create (we believe that it will create a large surplus, as the income tax alone is projected to earn more then $120b DAR more than our current income tax structure) back into the hands of the citizens of the Republic. |
| Date | 17:38:09, July 29, 2015 CET | From | Kern | To | Debating the Deficit Reduction (Revenues) 3883 |
| Message | "I thank the NPN for their continued support for the broader package of reform as a whole and I commit to sitting down with our Coalition partners and seeing where changes can be made once the deficit had been eliminated." Henrik van der Beek, Finance Secretary & Deputy Leader of the Core |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 301 | |||
| no | Total Seats: 0 | |||
| 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: "There is nothing wrong with America that cannot be cured by what is right with America." - Bill Clinton |