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Bill: Income tax proposal of January 4194
Details
Submitted by[?]: Democracy 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 not pass any sooner than the deadline.
Voting deadline: February 4195
Description[?]:
| The Democracy Party propose to adjust the government's income tax policy to better address the economic situation of the Military Republic of Dolgaristan. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 55
Current: 20
Proposed: 0
Article 2
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 |
| > 15,000 DLD | 10% | 57,027,000,000 DLD |
| > 25,000 DLD | 15% | 213,851,000,000 DLD |
| > 50,000 DLD | 20% | 570,270,000,000 DLD |
| > 100,000 DLD | 30% | 3,170,532,000,000 DLD |
| > 500,000 DLD | 60% | 485,993,000,000 DLD |
| > 750,000 DLD | 90% | 147,069,000,000 DLD | Total | 4,644,742,000,000 DLD |
Debate
These messages have been posted to debate on this bill:
| Date | 01:32:41, April 11, 2017 CET | From | Democracy Party | To | Debating the Income tax proposal of January 4194 |
| Message | This tax reform would transfer the burden of taxes off of the poor and middle class and onto those with enough money to live very well financially. It would eliminate taxes for anyone making less than 15,000 DLDs a year and would change the tax structure so that it no longer provides random tax cuts for wealthy brackets. |
| Date | 01:40:19, April 11, 2017 CET | From | Democracy Party | To | Debating the Income tax proposal of January 4194 |
| Message | It would also eliminate corporate taxes. This has been shown to drastically expand the number of corporations operating in the country as they are attracted by the lack of corporate taxes, which would improve our economy and create jobs. Corporations also tend to shift any taxes on them onto consumers by raising prices, so cutting taxes would lower prices for consumers and thereby expanding the entire economy as consumers would have more money to spend on other things. The Democracy Party does recognize the need for corporate income to be taxed, as it mostly goes to the wealthy. Our plan for taxation is this: we will tax the income that individual shareholders receive from corporate profits as a personal income tax and according to the tax bracket that the income would fall under. This would allow for corporate profits that go to middle class or poor stockholders to be taxed less than corporate profits that go to the wealthy. |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 305 | ||
| no |
Total Seats: 0 | ||
| abstain | Total Seats: 0 |
| Random fact: Real-life organisations should not be referenced in Particracy, unless they are simple and generic (eg. "National Organisation for Women" is allowed). |
| Random quote: "How much more grievous are the consequences of anger than the causes of it." - Marcus Aurelius |