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Bill: Income Tax Adjustment
Details
Submitted by[?]: Libertarian 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 pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: November 4069
Description[?]:
| The Libertarian Party propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Beluzia. |
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 |
| > 1,000 BEL | 5% | 4,236,000,000 BEL |
| > 2,500 BEL | 5% | 15,532,000,000 BEL |
| > 8,000 BEL | 10% | 11,168,000,000 BEL |
| > 10,000 BEL | 15% | 35,854,000,000 BEL |
| > 15,000 BEL | 25% | 108,142,000,000 BEL | Total | 174,932,000,000 BEL |
Debate
These messages have been posted to debate on this bill:
| Date | 05:16:18, August 04, 2016 CET | From | Libertarian Party | To | Debating the Income Tax Adjustment |
| Message | Madam Speaker, Following savings made from cuts to unnecessary government expenditure, we've decided to propose this adjustment to income tax. The result is essentially a cut in tax to the vast majority of people in our nation. The effect this will have on our economy will be profound. We must pass on the savings we made! Freedom to the people! Lucia Weldon, Finance Minister |
| Date | 11:59:35, August 04, 2016 CET | From | Knights of the People | To | Debating the Income Tax Adjustment |
| Message | This is merely increasing the tax burden on the poor while decreasing the taxes for the rich ! |
| Date | 16:36:39, August 04, 2016 CET | From | Libertarian Party | To | Debating the Income Tax Adjustment |
| Message | This just isn't true. This is a tax cut for the overwhelming majority of the population. The most privileged in society are still paying 25% which is a significant amount. The 10% reduction will only benefit the people as a whole, it will go into the economy rather than collecting dust in state coffers. It's extremely short sighted economics to ignore this. By opposing these adjustments, you're voting for unnecessarily high rates for the low paid and middle income families that the state has no need for. Could it be that you just don't like progress? - Lucia Weldon, Finance Minister |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 449 | ||||
| no | Total Seats: 22 | ||||
| abstain | Total Seats: 198 |
| Random fact: Moderation will not approve a Cultural Protocol request within the first 48 hours of it being requested. This is in order to give other players a chance to query the proposed changes, if they wish to do so. Moderation may be approached for advice on a proposed change, but any advice proffered should always be understood under the provisio that no final decision will be made until at least 48 hours after the request has been formally submitted for approval. |
| Random quote: "The basis of a democratic state is liberty." - Aristotle |