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Bill: Federal Tax & Salaries Reclassification Act
Details
Submitted by[?]: Unity Labour 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: December 4242
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. This tax reform sees the removal of those earning less than $2000MCR exempted from paying income tax. This is an effort to increase spending power of those earning low salaries in Malivia. Also this has seen an estimated increase of government revenue of 7 billion MCR from 115 billion to 122 billion MCR. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 35
Current: 5
Proposed: 27
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 30
Current: 25
Proposed: 36
Article 3
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% | 855,000,000 MCR |
| > 2,500 MCR | 3% | 855,000,000 MCR |
| > 3,000 MCR | 3% | 342,000,000 MCR |
| > 3,200 MCR | 4% | 684,000,000 MCR |
| > 3,500 MCR | 6% | 342,000,000 MCR |
| > 3,600 MCR | 6% | 684,000,000 MCR |
| > 3,800 MCR | 6% | 684,000,000 MCR |
| > 4,000 MCR | 6% | 2,052,000,000 MCR |
| > 4,600 MCR | 10% | 1,134,000,000 MCR |
| > 4,800 MCR | 10% | 1,117,000,000 MCR |
| > 5,000 MCR | 17% | 940,000,000 MCR |
| > 5,100 MCR | 20% | 2,189,000,000 MCR |
| > 5,300 MCR | 22% | 2,346,000,000 MCR |
| > 5,500 MCR | 24% | 1,257,000,000 MCR |
| > 5,600 MCR | 25% | 2,593,000,000 MCR |
| > 5,800 MCR | 26% | 2,598,000,000 MCR |
| > 6,000 MCR | 27% | 3,902,000,000 MCR |
| > 6,300 MCR | 28% | 2,625,000,000 MCR |
| > 6,500 MCR | 30% | 17,575,000,000 MCR |
| > 8,000 MCR | 33% | 3,173,000,000 MCR |
| > 8,300 MCR | 36% | 17,030,000,000 MCR |
| > 10,000 MCR | 35% | 4,007,000,000 MCR |
| > 10,500 MCR | 36% | 3,853,000,000 MCR |
| > 11,000 MCR | 38% | 7,025,000,000 MCR |
| > 12,000 MCR | 40% | 12,719,000,000 MCR |
| > 14,000 MCR | 42% | 5,132,000,000 MCR |
| > 15,000 MCR | 44% | 15,016,000,000 MCR |
| > 20,000 MCR | 40% | 4,837,000,000 MCR |
| > 25,000 MCR | 42% | 3,684,000,000 MCR |
| > 30,000 MCR | 44% | 1,221,000,000 MCR |
| > 35,000 MCR | 20% | 111,000,000 MCR |
| > 36,000 MCR | 20% | 111,000,000 MCR |
| > 37,000 MCR | 20% | 11,000,000 MCR |
| > 37,100 MCR | 20% | 14,000,000 MCR | Total | 122,718,000,000 MCR |
Debate
These messages have been posted to debate on this bill:
| Date | 05:59:47, July 15, 2017 CET | From | Unity Labour Party | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | This tax reform sees the removal of those earning less than $2000MCR exempted from paying income tax. This is an effort to increase spending power of those earning low salaries in Malivia. Also this has seen an estimated increase of government revenue of 7 billion MCR from 115 billion to 122 billion MCR. It is the minister of finance intentions to have economic growth of 4% and a decline in the budget deficit. I hereby place this bill for debate. |
| Date | 16:59:29, July 15, 2017 CET | From | Wind of Change | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | We will vote against. We agree with the increase in the luxury goods tax but we prefer a bbigger increase. We agree with the decrease in the taxes for corporations. We like your idea of removing the income tax for the poorest people but we are totally against the increase in the non luxury goods and the decrease in the income tax for the richest people. |
| Date | 19:20:52, July 15, 2017 CET | From | Unity Labour Party | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | We would hope that all parties can reach to an agreement on the policy issue before us. I as, Minister of Finance is willing to have a larger increase for luxury goods and leave taxation on essential goods as it is at 16% |
| Date | 16:37:21, July 16, 2017 CET | From | Unity Labour Party | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | As the mover of this bill, I have removed the second article which would have seek to increase taxes for essential goods and has increased taxes tremendously on luxury goods in order to meet a good compromise for WOC party. We believe that this bill is in the best economic interest of the state on which we have to make decisions based on objectivity and not emotions. |
| Date | 16:38:26, July 16, 2017 CET | From | Unity Labour Party | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | I hereby hope that with such compromise, this bill will receive the necessary support needed to pass. This will see a reduction in the deficit and also increase wealth throughout the state. |
| Date | 19:26:57, July 16, 2017 CET | From | Wind of Change | To | Debating the Federal Tax & Salaries Reclassification Act |
| Message | Although we like the changes that you did concerning the sales taxes we still disagree with that ridiculous 20% for the richest people. |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 306 | ||
| no |
Total Seats: 144 | ||
| abstain |
Total Seats: 0 |
| Random fact: Moderation will not implement nation renaming requests where the proposed name does not comply with the requirements set out in the Nation Renaming Guide: http://forum.particracy.net/viewtopic.php?f=11&t=6364 |
| Random quote: Time and again, the police prove themselves to be the Class Enemy, an armed mob used to oppress the masses and maintain the wealthy in their privileges. ~Friedrich Pfeiffer, General Secretary of the Dorvish Communist Party |