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Bill: Flat Rate and Tax Reform Act of September 3913
Details
Submitted by[?]: National Freedom Party
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: May 3915
Description[?]:
The National Freedom Party propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Beluzia. The Coalition government has agreed to push through a Flat Tax and a complete elimination of government vacation on government goods and corporate profit. Our nation's job creators should not be constrained by a government which takes a fifth of all they make. This reform maintains the government surplus and encourages even more private investment and frees up literally billions in Beluz that could be used by the individual consumer. ECONOMIC STUDY ---- Current Revenue from General Taxation at Progressive Rates: 88,767,223,768 BEL Expected Revenue from General Taxation at Flat Rate of 12%: 80,674,000,000 BEL Loss from Current to Expected:: 8,093,223,768 BEL Current Revenue from Corporate Taxation: 10,255,086,360 BEL Expected Revenue from Corporate Taxation: 0 BEL Loss from Current to Expected: 10,255,086,360 BEL Current Revenue from Luxury Goods Tax: 64,853,420,365 BEL Expected Revenue from Luxury Goods Tax: 0 BEL Loss from Current to Expected: 64,853,420,365 BEL -- TOTAL LOSSES IN REVENUE FROM TAX REFORMS: 83,201,730,493 BEL Current Government Surplus: 107,375,730,493 BEL Expected Government Surplus: 24,174,000,000 BEL |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 21
Current: 10
Proposed: 0
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 20
Current: 10
Proposed: 0
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 BEL | 12% | 48,173,000,000 BEL |
> 20,000 BEL | 12% | 19,701,000,000 BEL |
> 30,000 BEL | 12% | 7,694,000,000 BEL |
> 40,000 BEL | 12% | 3,596,000,000 BEL |
> 50,000 BEL | 12% | 1,417,000,000 BEL | Total | 80,581,000,000 BEL |
Debate
These messages have been posted to debate on this bill:
Date | 06:08:08, September 28, 2015 CET | From | Beluzian Coalition of the Regions | To | Debating the Flat Rate and Tax Reform Act of September 3913 |
Message | The BLC will support this. |
Date | 12:48:42, September 28, 2015 CET | From | United People's Party | To | Debating the Flat Rate and Tax Reform Act of September 3913 |
Message | This bill is simply unfair, unjust and punishes the poor. The NFP have shown their true colours with the tax reforms they have put forward. In their and the BLC's world the rich gets richer and poor get nothing. Corporations are the true beneficiaries of this coalition government. The UPP could never sport such measures without adequate consideration of low income families and workers. |
Date | 16:58:16, September 28, 2015 CET | From | National Freedom Party | To | Debating the Flat Rate and Tax Reform Act of September 3913 |
Message | The President takes issue with your claim and is taken aback by such vitriol and opposition to a bill which lowers rates by up to 18 percent and only raises them on the lowest tax bracket by 2 percent. Is it not already enough of a favor that those who earn less that 10,000 BEL are not taxed at all. This is essential money that could be redistributed to government programs but no. This government has adopted a steadfast and no-nonsense policy of lowering rates, taxing as least as possible, spending as least as possible, to free up money for private investment. Low income workers and families are not even taxed! If you earn less that 10,000 BEL the government serves you free of charge. Maybe the UPP would support a government that is free of charge for all and that quietly but surely runs our debt through the ceiling and drives economic growth down. This is not on the agenda and the governing coalition will continue to make great strides in ridding Beluzia of socialistic and archaic policies. |
Date | 18:24:57, September 29, 2015 CET | From | Libertarian Citizens | To | Debating the Flat Rate and Tax Reform Act of September 3913 |
Message | Libertarian Citizens cannot support a loss of 83,201,730,493 BEL after just two months of existence as a political party. It would be irresponsible. We hope the government parties are sure this loss of tax doesn't compromise the future of governments of which we aim to be part of as well as the future of generations of Beluzians. We believe this tax money could be used to enforce revolutionary laws like our proposed subsidising of all higher education, a result of which would be the development of a society of free individuals who would set up companies that would thrive even when taxed. However, we would vote yes if the government parties could assure us higher education could be fully subsidised after this tax reform. |
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Voting
Vote | Seats | |||
yes | Total Seats: 299 | |||
no | Total Seats: 0 | |||
abstain |
Total Seats: 151 |
Random fact: The players in a nation have a collective responsibility to ensure their "Bills under debate" section is kept in good order. Bills which are irrelevant or have become irrelevant should be deleted. Deletion can be requested for bills proposed by inactive parties on the Bill Clearout Requests thread: http://forum.particracy.net/viewtopic.php?f=11&t=4363 |
Random quote: "In public policy, it matters less who has the best arguments and more who gets heard, and by whom." - Ralph Reed |