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Bill: Income tax proposal of July 4004
Details
Submitted by[?]: Conservative Party of Hobrazia
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 4005
Description[?]:
| The Conservative Party of Hobrazia propose to adjust the government's income tax policy to better address the economic situation of the Hobrazia. Due to the financial deficit we are facing, this government has drawn up a plan to reduce the deficit by the end of this year. We will be making minor changes in all areas of the Economy shortly but in the meantime this new taxation will be brought into place. This tax has a name called the Taxation of Last Resort. This is because the value of our currency is now lower and inflation has taken effect. The government will respond to this immediately but it will take time to get back on track. Because we don't want to reduce spending, by the end of this legislative term, we will be in a deficit of nearly 25,000,000,000,000 HCR. |
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 |
| > 2,500 HCR | 30% | 42,368,000,000 HCR |
| > 5,000 HCR | 35% | 98,859,000,000 HCR |
| > 10,000 HCR | 40% | 221,773,000,000 HCR |
| > 20,000 HCR | 45% | 268,500,000,000 HCR |
| > 35,000 HCR | 48% | 120,008,000,000 HCR |
| > 45,000 HCR | 59% | 53,724,000,000 HCR |
| > 50,000 HCR | 59% | 81,851,000,000 HCR |
| > 60,000 HCR | 72% | 96,932,000,000 HCR |
| > 75,000 HCR | 80% | 122,531,000,000 HCR |
| > 135,000 HCR | 90% | 2,055,000,000 HCR |
| > 139,000 HCR | 99% | 319,000,000 HCR | Total | 1,108,920,000,000 HCR |
Debate
These messages have been posted to debate on this bill:
| Date | 23:52:20, March 27, 2016 CET | From |  Peoples Party | To | Debating the Income tax proposal of July 4004 |
| Message | Mr speaker, As the coalition partner of this government we do take full responsibility for the economic errors and sudden, financial insecurities. We do agree that new tax should be put into place and for that reason we support our partner. We will say that this new tax is not the answer to the problem, it is only a small Step forward. To reduce our deficit we need to spend more money to increase investment to boost our economy. |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 364 | |||
| no | Total Seats: 0 | |||
| abstain | Total Seats: 286 |
| Random fact: Alduria, Rildanor and Lourenne all have Canrilaise (French) cultures. |
| Random quote: "You will win, but you will not convince. You will win, because you possess more than enough brute force, but you will not convince, because to convince means to persuade. And in order to persuade you would need what you lack, reason and right in the struggle." - Miguel de Unamuno |