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Bill: Income tax proposal of May 4071
Details
Submitted by[?]: Knights of the People
Status[?]: defeated
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: January 4072
Description[?]:
| The Knights of the People 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 |
| > 5,000 BEL | 4% | 5,647,000,000 BEL |
| > 7,500 BEL | 10% | 13,989,000,000 BEL |
| > 10,000 BEL | 20% | 47,797,000,000 BEL |
| > 15,000 BEL | 30% | 79,539,000,000 BEL |
| > 25,000 BEL | 40% | 50,169,000,000 BEL |
| > 40,000 BEL | 50% | 19,039,000,000 BEL |
| > 55,000 BEL | 65% | 2,479,000,000 BEL | Total | 218,659,000,000 BEL |
Debate
These messages have been posted to debate on this bill:
| Date | 12:46:58, August 08, 2016 CET | From | Knights of the People | To | Debating the Income tax proposal of May 4071 |
| Message | Some people will disagree, as we have a large surplus. That is right, but the surplus will allow us to bring back government investment in areas where spending was drastically reduced (usually without any good reason) by the former government. |
| Date | 13:02:23, August 08, 2016 CET | From | Regionalist Coalition | To | Debating the Income tax proposal of May 4071 |
| Message | Madam Speaker, Though I concur with the thoughts of the KotP, that a healthy surplus should be raised for investment, now our economy is in a stable position, I think this proposal is the wrong way to go about it. A 65% tax rate? How ridiculous! This is simply counter-productive and will halt wage growth! The Daybreak Coalition did fantastic work in freeing us form absurdly high income tax rates, now the KotP want to bring it all back again? Sen. Claire Murray Leader of the New Liberal Party, Minister for Trade & Industry, NLP Finance Spokesperson |
| Date | 16:22:35, August 08, 2016 CET | From | Libertarian Party | To | Debating the Income tax proposal of May 4071 |
| Message | This is an attack on high and middle income families. 65% is absurd. We will see doctors, scientists and entrepreneurs leave this country en masse. But look at the 20% bracket and 30% bracket. What you're proposing is the destruction of the middle class. I'm unsurprised that the socialists couldn't wait to destroy the good work of the previous government, however I'm honestly surprised by the absolute recklessness' of this tax policy. - Senator Lucia Weldon, Libertarian Party General Secretary |
| Date | 22:06:52, August 08, 2016 CET | From | Socialist Working Party | To | Debating the Income tax proposal of May 4071 |
| Message | Madam Speaker, Whilst I agree in the high income citizens paying their fair share, 65% seems completely unreasonable and unnecessary. The pending raise in corporation tax should be sufficient to keep our economy healthy. |
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Voting
| Vote | Seats | |||||||
| yes | Total Seats: 41 | |||||||
| no |
Total Seats: 609 | |||||||
| abstain | Total Seats: 100 |
| Random fact: For more information on Particracy's former colonial nations, check out http://forum.particracy.net/viewtopic.php?f=5&t=6640 |
| Random quote: "I think the environment should be put in the category of our national security. Defense of our resources is just as important as defense abroad. Otherwise, what is there to defend?" - Robert Redford |