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Bill: Income tax proposal of June 4076
Details
Submitted by[?]: United Party of Centrists
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: April 4077
Description[?]:
| The United Party of Centrists 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 |
| > 9,000 BEL | 10% | 5,520,000,000 BEL |
| > 10,000 BEL | 13% | 31,078,000,000 BEL |
| > 15,000 BEL | 21% | 55,708,000,000 BEL |
| > 25,000 BEL | 30% | 30,771,000,000 BEL |
| > 35,000 BEL | 35% | 7,990,000,000 BEL |
| > 40,000 BEL | 43% | 12,887,000,000 BEL |
| > 50,000 BEL | 47% | 5,549,000,000 BEL | Total | 149,503,000,000 BEL |
Debate
These messages have been posted to debate on this bill:
| Date | 19:55:58, August 18, 2016 CET | From | Socialist Working Party | To | Debating the Income tax proposal of June 4076 |
| Message | The budget is healthy with a surplus of 24,562,326,949 BEL. Income tax does not need to be adjusted - certainly not when it involves ridiculous rates such as 47% for those earning 50,000 BEL and up. |
| Date | 20:58:42, August 18, 2016 CET | From | United Party of Centrists | To | Debating the Income tax proposal of June 4076 |
| Message | To the Socialist Working Party, The budget may currently be at a surplus of 24,562,326,949 BEL, but that doesn't mean the new tax plan removes the surplus. Simply having a surplus is not enough to make the citizens of Beluzia content with government. We have to reinvest that surplus back into the loyal tax payers. By lowering taxes on the middle strata, we are reinvesting in our economy and are further growing our middle class. It does come as a shock to me that the Socialist Working Party, charged with protecting workers and lower income individuals is against, and claims that a 2% increase in the tax rates of those making 50,000 BEL is "ridiculous". I find it ridiculous that you can already cast aside your message because of a slight tax increase in the upper class. The benefit of a lower tax rate on the middle class will far exceed the 2% more of taxes the upper class will have to pay. After taxes those making 50,000 BEL or over would be making 26,500 BEL or more. Meanwhile, the middle class after taxes used to only have 11,250 BEL but with this new tax plan would have 11,850. This is 600 BEL more in the economy that can be used for consumption or investment. I truly hope the Socialist Working Party can change its opinion of this tax plan and get back to its core values of protecting the people instead of worrying about how large our surplus can be. If you are still concerned about this tax plan and its effect on the surplus, we would still have a hefty surplus of 10,520,598,396 BEL. |
| Date | 16:59:30, August 19, 2016 CET | From | Socialist Working Party | To | Debating the Income tax proposal of June 4076 |
| Message | Whilst we will always support tax cuts for low income individuals, 47% is excessive and borders on taking half of earnings which is outrageous regardless of income. 45% was already a little high. If we raise tax for the high earners too much then businesses and skilled professionals will simply leave Beluzia. |
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Voting
| Vote | Seats | |||||
| yes | Total Seats: 44 | |||||
| no |
Total Seats: 468 | |||||
| abstain |
Total Seats: 238 |
| Random fact: Large scale RP planning (such as wars, regional/continental conflicts, economic collapse, etc.) should be planned (as best as it can be) and should have consent of a majority of players involved. |
| Random quote: "We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice." - Friedrich August von Hayek |