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Bill: Tax Cut October 4014
Details
Submitted by[?]: Party of Liberty
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: March 4016
Description[?]:
| A tax cut on some different taxes to encourage businesses to create more jobs and expand and to stop a 'brain drain' because of the high tax on luxury goods, and encouraging to rich to stay here and spend there money in Beluzia. Here is a breakdown of our spending after the cut: 2,521,641,252 BEL – 5% of Corporation Tax 29.090,616.651 BEL – 10% of Luxury Goods tax Total – 31,602,257,903.25 BEL loss of revenue Current Surplus - 52,337,646,790 BEL New Surplus – 20,735,388,886.75 BEL We will still have a surplus of 20.7 Billion BEL, and thus is still inefficient but less so. From this, we can make a further tax-cut or put this money into government spending. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 25
Current: 10
Proposed: 20
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 40
Current: 10
Proposed: 30
Debate
These messages have been posted to debate on this bill:
| Date | 14:32:20, April 17, 2016 CET | From | Unsubmissive Beluzian Workers Party | To | Debating the Tax Cut October 4014 |
| Message | We prefer the luxury goods tax to stay the same |
| Date | 15:35:14, April 17, 2016 CET | From | Knights of the People | To | Debating the Tax Cut October 4014 |
| Message | This shall not pass. |
| Date | 18:59:43, April 17, 2016 CET | From | National Front | To | Debating the Tax Cut October 4014 |
| Message | The most efficient way to get the economy growing and bringing people out of poverty is to remove some of the weight put on them by the Government, this is taxes. It is time that we allow people to keep more of what they are earning so they can go and spend it where they please. Economic freedom. Also if business have more money revenue through tax cuts then they are going to raise the pay of their workers and then expand their businesses which creates jobs for people long term. This party calls on the Coalition Government to back this bill to ensure that businesses are given the tax break they need to expand. This party supports this bill but wants to see a article added about cutting income tax rates that are far to high in this nation. |
| Date | 20:47:30, April 17, 2016 CET | From | Party of Liberty | To | Debating the Tax Cut October 4014 |
| Message | We would like to note that we are open to negotiation on how far we cut taxes, whether it is not much or a lot. To add on to what the NFP has said, cutting these taxes will also prevent what is called a 'Brain Drain', which is when the scientists, the rich and the ambitious leave the country for a country with less taxes so that they can actually do something with their money. With less taxes on luxury goods, they will stay in Beluzia and contribute to our economy. |
| Date | 21:48:34, April 17, 2016 CET | From | Knights of the People | To | Debating the Tax Cut October 4014 |
| Message | But won't this ruin the economy? |
| Date | 21:48:51, April 17, 2016 CET | From | Knights of the People | To | Debating the Tax Cut October 4014 |
| Message | I think we'll be in really huge deficit after that. |
| Date | 22:26:31, April 17, 2016 CET | From | Party of Liberty | To | Debating the Tax Cut October 4014 |
| Message | No - we are currently in a VERY large surplus. A tax cut is very plausible. Currently, if we cut this ammount of tax we are still running a 20.7 billion BEL surplus. Here is a breakdown of the tax cut - 2,521,641,252 BEL – 5% of Corporation Tax 29.090,616.651 BEL – 10% of Luxury Goods tax Total – 31,602,257,903.25 BEL loss of revenue Current Surplus - 52,337,646,790 BEL New Surplus – 20,735,388,886.75 BEL |
| Date | 22:29:56, April 17, 2016 CET | From | Party of Liberty | To | Debating the Tax Cut October 4014 |
| Message | We could cut more and encourage even more spending, but I set this as a base cut to see what the other parties would think of this. We currently have 52 billion BEL wasted every quarter, just going into reserves. This could be cut to help the economy grow and encourage consumer spending - we cannot waste this opportunity. And even so, the government will be making 20.7 billion BEL per quarter in profit - more than enough to continue running. In the Party of Liberties opinion, we should be running a government with a very small surplus. Just enough to continue bringing in money for reserves in-case of a rainy day, but little enough to be very efficient with our spending and our economy. |
| Date | 22:36:12, April 17, 2016 CET | From | Party of Liberty | To | Debating the Tax Cut October 4014 |
| Message | We could cut more and encourage even more spending, but I set this as a base cut to see what the other parties would think of this. We currently have 52 billion BEL wasted every quarter, just going into reserves. This could be cut to help the economy grow and encourage consumer spending - we cannot waste this opportunity. And even so, the government will be making 20.7 billion BEL per quarter in profit - more than enough to continue running. In the Party of Liberties opinion, we should be running a government with a very small surplus. Just enough to continue bringing in money for reserves in-case of a rainy day, but little enough to be very efficient with our spending and our economy. |
| Date | 18:11:05, April 18, 2016 CET | From | Our Movement | To | Debating the Tax Cut October 4014 |
| Message | The real key for everyone to live successfuly in a strong economy would be an increase in access to capital, so that more people will have the means to start their own businesses, along with more transparency in financial accounts as a countermeasure against tax evasion, money laundering and other white-collar crimes. In line of our Beluzia-first policy, foreign businesspeople shouldn't hold more than 30% of stocks in nationalized sectors of the economy. |
| Date | 18:27:07, April 18, 2016 CET | From | Party of Liberty | To | Debating the Tax Cut October 4014 |
| Message | A tax cut in this sense will allow those who do start a business an easier time. This will mean that local, small Beluzian businesses have a chance in this economy - a chance to stand on their own two feet instead of being butchered in market-share by bigger, international businessess. With this tax-cut, Beluzian Businesses stand more of a chance. And we completely agree with you. People do need more access to capital - however, does that stop a tax cut being a possibility? No. A tax cut, which will keep us in the green, will allow Beluzian businesses to stand on their two feet in this economy as well as putting wasted money to good use - back into the pockets of the public and business. We urge you not to let this bill fail, and to keep our economy going forward and to keep Beluzian Businesses Beluzian. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 305 | ||||
| no |
Total Seats: 186 | ||||
| abstain |
Total Seats: 259 |
| Random fact: Once approved, players should copy Cultural Protocols into a bill in the debate section of their nation page, under the title of "OOC: Cultural Protocols". This bill should include links to the passed Cultural Protocol bill and the Moderation approval. |
| Random quote: "Conservatives define themselves in terms of what they oppose." - George Will |