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Bill: Income tax proposal of April 4307
Details
Submitted by[?]: Imperial Commonwealth League
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: December 4307
Description[?]:
| The Progressive Conservative Party propose to adjust the government's income tax policy to better address the economic situation of the Kingdom of Hutori. |
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 |
| > 12,500 HLR | 5% | 31,663,000,000 HLR |
| > 25,000 HLR | 10% | 39,237,000,000 HLR |
| > 37,500 HLR | 25% | 61,005,000,000 HLR |
| > 50,000 HLR | 35% | 58,944,000,000 HLR |
| > 62,500 HLR | 45% | 49,296,000,000 HLR |
| > 75,000 HLR | 55% | 66,621,000,000 HLR | Total | 306,766,000,000 HLR |
Debate
These messages have been posted to debate on this bill:
| Date | 19:38:40, November 23, 2017 CET | From |  Hutori Party | To | Debating the Income tax proposal of April 4307 |
| Message | Mr Speaker, While we would usually support tax breaks for the people of this great nation, the Progressive Conservatives are failing to see that this tax cut will put Hutori into a deficit. With the new CorpTax, Hutori has a surplus of 21 billion HLR, after these tax cuts, we would have a deficit of approximately 20 billion HLR. Can the Chancellor or the finance minister explain how this tax cut will help the Hutorian economy? Jim Houston Conservative Finance Critic MP for Glentingham East |
| Date | 19:41:03, November 23, 2017 CET | From | Imperial Commonwealth League | To | Debating the Income tax proposal of April 4307 |
| Message | Mr. Speaker, This is in line with our proposed raising of corporation tax to 25% for large businesses and exemptions for businesses earning under a set amount per year, which we intend to introduce later this month. Elizabeth Jones Minister of Finance |
| Date | 19:47:49, November 23, 2017 CET | From |  Scientian Enclave | To | Debating the Income tax proposal of April 4307 |
| Message | Mr. Speaker, Deficit spending is unsustainable, we must live within our own means. We concur with the Conservatives and thus will vote against this bill. - Lyn Kopp Ambassador of the Ataraxian Confederation |
| Date | 06:56:42, November 24, 2017 CET | From | Hutori Party | To | Debating the Income tax proposal of April 4307 |
| Message | Mr Speaker, While we agree that small businesses should be exempt from the Corptax and are glad that the PCs intend to grant those exemptions, we cannot agree with increasing an already too large corporate tax. It will drive companies out of Hutori and hurt our economy. This is another example of the PCs' incompetence when it comes to handling the finances of Hutori. Without the CorpTax or this change, we had a billion HLR surplus. Tax changes were not needed. Jim Houston Conservative Finance Critic MP for Glentingham East |
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Voting
| Vote | Seats | ||||||
| yes | Total Seats: 111 | ||||||
| no |
Total Seats: 399 | ||||||
| abstain |
Total Seats: 95 |
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