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Bill: Imperial Revenue Act of 3994
Details
Submitted by[?]: Imperial Conservative Union (IA)
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: November 3994
Description[?]:
| As predicted, the recently passed revenue plan has put our spending into the red: Revenue = 67,242,580,473 LPD Expenses = 68,080,750,000 LPD Surplus = -838,169,527 LPD We propose the following changes to raise revenue: - Streamlining the Tax Code into two categories. While not the most progressive system, it is not a flat tax, assigning a higher taxation on the nobility and wealthier citizens of the empire. - Raising the Luxury Tax. The nobility have always paid for their privileges. Tradition should be kept. - Introducing a 1% sales tax as a temporary measure to increase budget revenue to pay off the debt that has been incurred over by our current deficit spending. As of now we have plans to phase this out in the future unless the said funds are needed elsewhere. - Lowing the Corporate Tax by 1% as short-term tax break to encourage growth and investment in the economy. This can be revised in the future to either be lowered or raised as deemed necessary. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 15
Current: 18
Proposed: 14
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 6
Proposed: 1
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 12
Current: 21
Proposed: 15
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 |
| > 1 LPD | 10% | 42,943,000,000 LPD |
| > 10,000 LPD | 15% | 13,880,000,000 LPD | Total | 56,823,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
| Date | 18:28:48, March 06, 2016 CET | From | National Party of Luthori | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr. Speaker, We oppose any new tax on non luxury items. We also oppose flat tax and are in favour of a progressive system. This is a fundamental difference between our parties, so we probably won't find a common ground here. I yield. |
| Date | 18:37:53, March 06, 2016 CET | From | Liberal Alliance | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr Speaker We need more funds. Do you have any plans for that NRP? I yield. |
| Date | 18:51:04, March 06, 2016 CET | From | National Party of Luthori | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr. Speaker, Yes I have plans but it was my understanding that it was the role of both the Imperial Chancellor and Finance Minister to come up with a budget that wouldn't result in unnecessary deficits. Now that Luthori is in the red we have politicians scrambling to impose new taxes. I yield. John Orangeheuser Imperial Viceroy |
| Date | 19:49:37, March 06, 2016 CET | From | Conservative Right | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr Speaker, We do favor a flat income tax to take us away from the god awful welfare state that we have today. But we share NPL concerns about the tax on luxury goods. Anders Borg candidate for finance |
| Date | 20:32:54, March 06, 2016 CET | From |  Centrist Alliance | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr Speaker, The NPL didn't mention anything on luxuay goods taxes. They said they don't want to see a tax on non-luxuary goods. Camellia Harrison PUM Finance |
| Date | 21:26:01, March 06, 2016 CET | From | Conservative Right | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr Speaker, I am glad that Camellia corrected me so everything is correct. Thank you very much but i think my point was made. And if it was not then let me say it so even you understand. Flat tax good. Luxury goods tax bad. Anders Borg Moderate party finance candidate |
| Date | 22:17:18, March 06, 2016 CET | From | Imperial Conservative Union (IA) | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr. Speaker, Is the following not progressive. We have two separate brackets and raise the revenue we need. We do not understand how though a 1% sales tax is unacceptable but taxing corporations at 18% is acceptable. Especially when the damage done by the former is minimal, but the latter (which is already at 15%) could be serious. Do not take us wrong, we are not against taxing corporations, but not spreading the burden out over the economy is more damaging than anything else. I yield. |
| Date | 06:26:42, March 07, 2016 CET | From | National Party of Luthori | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr. Speaker, We support now that the bill has been amended with the new 15% tax on luxury goods. I yield. |
| Date | 08:44:01, March 07, 2016 CET | From | Centrist Alliance | To | Debating the Imperial Revenue Act of 3994 |
| Message | Mr Speaker, I cannot justify this tax system and will be looking to propose a new one in the coming months. Carlos Everton PUM Leader |
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Voting
| Vote | Seats | |||||||
| yes |
Total Seats: 429 | |||||||
| no |
Total Seats: 71 | |||||||
| abstain | Total Seats: 0 |
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