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Bill: Income tax proposal of May 4170
Details
Submitted by[?]: Unity Labour Party
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 4171
Description[?]:
| The Unity Labour Party propose to adjust the government's income tax policy to better address the economic situation of the Free State of Malivia. The goal of this bill is to increase the purchasing power of if citizens honourable members who live below the wage line of $5000. This fiscal policy shall create the outcome of economic growth and creation of wealth amongst the citizens of Malivia while targeting to lessen the issue of poverty. Moreover it is to achieve the government's economic initiative of a projected 600 billion dollar GDP as we are nearing that goal with GDP at 593 billion dollars. Also there is no need to fear for a budget deficit as it's only less than 10 billion dollars in decline as a result of tax cuts to which we currently have a surplus of 27 billion, therefore surplus will only decline to 20 billion dollars, thus there will not be a deficit if this bill is passed As minister of finance I do hope that will pass safely in this honourable house. |
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 |
| > 2,000 MCR | 3% | 1,709,000,000 MCR |
| > 3,000 MCR | 3% | 1,709,000,000 MCR |
| > 4,000 MCR | 3% | 1,701,000,000 MCR |
| > 5,000 MCR | 17% | 32,637,000,000 MCR |
| > 10,000 MCR | 40% | 33,856,000,000 MCR |
| > 15,000 MCR | 40% | 13,652,000,000 MCR |
| > 20,000 MCR | 40% | 4,839,000,000 MCR |
| > 25,000 MCR | 45% | 3,945,000,000 MCR |
| > 30,000 MCR | 45% | 1,244,000,000 MCR |
| > 35,000 MCR | 35% | 431,000,000 MCR | Total | 95,723,000,000 MCR |
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | |||||
| yes |
Total Seats: 207 | |||||
| no | Total Seats: 0 | |||||
| abstain |
Total Seats: 493 |
| Random fact: Did you know you can change the official name of your nation? All you need to do is draw up a new name that is in accordance with the Nation Renaming Guide, pass a bill proposing the name change with a two-thirds majority and then post a request to Moderation on the "Renaming Requests" thread. You can change city and region names in this way too. |
| Random quote: "I came, I saw, I conquered" - Julius Caesar |