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Bill: Income Tax Cut Proposal
Details
Submitted by[?]: Likatonian Independence 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: August 4201
Description[?]:
| Let us give our citizens a much needed tax break! More money for everyone, especially the working and middle class, to do with as they please. |
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 LIK | 10% | 11,510,000,000 LIK |
| > 4,000 LIK | 15% | 33,738,000,000 LIK |
| > 8,000 LIK | 20% | 34,133,000,000 LIK |
| > 12,000 LIK | 25% | 28,898,000,000 LIK |
| > 16,000 LIK | 30% | 61,848,000,000 LIK | Total | 170,127,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 21:56:06, April 24, 2017 CET | From | Farmers Commune | To | Debating the Income Tax Cut Proposal |
| Message | The Government is already running a deficit and this would push the deficit even higher. This also isn't much of a tax cut for the poorest in society who are still paying the same amount as they were before. |
| Date | 22:41:11, April 24, 2017 CET | From | Likatonian Independence Party | To | Debating the Income Tax Cut Proposal |
| Message | The poorest get the largest tax cut. The rates all drop tremendously whilst the first 2,000 LIK is entirely tax free for everyone. To give some examples: Someone earning 10,000 LIK would pay 1,200 LIK instead of 1,700 LIK. Paying an effective tax rate o 12% instead of 17%. Someone earning 5,000 LIK would be even better off. Paying 350 LIK instead of the current 600 LIK. An effective tax rate of 7% instead of 12%. Please consider taking another look at the current rates. The poor are most certainly not paying the same amount as before, they are receiving a substantial tax cut under this proposal. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 223 | |||
| no |
Total Seats: 163 | |||
| abstain |
Total Seats: 111 |
| Random fact: The players in a nation have a collective responsibility to prevent confusion by ensuring unofficial or outdated bills labelled as "Cultural Protocols" are removed from their nation page. |
| Random quote: "While the State exists, there can be no freedom. When there is freedom there will be no State." - Vladimir Lenin |