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Bill: Tax Bracket of 4298
Details
Submitted by[?]: Democratic Technocracy Directive
Status[?]: passed
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: June 4299
Description[?]:
| Progressive tax is more than enough to fuel the nation for cash |
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 |
| > 100 LIK | 2% | 1,034,000,000 LIK |
| > 1,000 LIK | 10% | 2,871,000,000 LIK |
| > 1,500 LIK | 15% | 12,920,000,000 LIK |
| > 3,000 LIK | 20% | 34,454,000,000 LIK |
| > 6,000 LIK | 23% | 46,144,000,000 LIK |
| > 10,000 LIK | 25% | 24,264,000,000 LIK |
| > 12,500 LIK | 29% | 21,410,000,000 LIK |
| > 15,000 LIK | 33% | 30,717,000,000 LIK |
| > 20,000 LIK | 37% | 21,013,000,000 LIK |
| > 25,000 LIK | 40% | 16,211,000,000 LIK |
| > 30,000 LIK | 50% | 15,585,000,000 LIK |
| > 37,500 LIK | 35% | 1,682,000,000 LIK |
| > 40,000 LIK | 30% | 893,000,000 LIK | Total | 229,198,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 06:37:46, November 04, 2017 CET | From | Democratic Libertarian Party | To | Debating the Tax Bracket of 4298 |
| Message | We support this adjusments, they seem reasonable. Everleigh Swinton Democratic Party Leader Oliver Bilson Chair of the Democratic Party Finance Committee |
| Date | 14:08:09, November 04, 2017 CET | From | Social Liberal Party | To | Debating the Tax Bracket of 4298 |
| Message | Why on Terra would we tax the rich less than the middle class? |
| Date | 20:23:47, November 05, 2017 CET | From | Democratic Technocracy Directive | To | Debating the Tax Bracket of 4298 |
| Message | OOC: I made two brackets this being one and an escalating 4% and this somehow made more money, if anyone knows about economy theory I would love to hear their explanation for it. |
| Date | 21:37:12, November 05, 2017 CET | From | Republican Centrist Alliance | To | Debating the Tax Bracket of 4298 |
| Message | We are in dire need for tax reform, Aye. Connor Underwood Chairman of the Republican Centrist Alliance. |
| Date | 01:12:10, November 06, 2017 CET | From | Social Liberal Party | To | Debating the Tax Bracket of 4298 |
| Message | I cannot stress enough that this tax proposal implies progressive tax up to 50% for 30000-37500 LIK incomes, then REGRESSIVE tax, the richest only pay 30%. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 231 | |||||
| no | Total Seats: 112 | |||||
| abstain | Total Seats: 82 |
| Random fact: In order for a Cabinet bill to pass, more than half of the legislature must vote for it and all of the parties included in the proposed Cabinet must support it. If your nation has a Head of State who is also the Head of Government, then the party controlling this character must also vote for the bill, since the Head of Government is also a member of the Cabinet. If any of these requirements are not met, the bill will not pass. |
| Random quote: "Economic advance is not the same thing as human progress." - John Clapham |