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Bill: Income tax proposal of October 4334
Details
Submitted by[?]: Nationalist Party of Likatonia
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: June 4335
Description[?]:
| The Worker's Socialist Party propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Likatonia. |
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 |
| > 1,000 LIK | 12% | 3,447,000,000 LIK |
| > 1,500 LIK | 15% | 12,925,000,000 LIK |
| > 3,000 LIK | 20% | 34,467,000,000 LIK |
| > 6,000 LIK | 24% | 48,169,000,000 LIK |
| > 10,000 LIK | 26% | 25,244,000,000 LIK |
| > 12,500 LIK | 29% | 21,418,000,000 LIK |
| > 15,000 LIK | 33% | 30,727,000,000 LIK |
| > 20,000 LIK | 37% | 21,018,000,000 LIK |
| > 25,000 LIK | 42% | 17,026,000,000 LIK |
| > 30,000 LIK | 50% | 15,589,000,000 LIK |
| > 37,500 LIK | 52% | 2,500,000,000 LIK |
| > 40,000 LIK | 53% | 1,579,000,000 LIK | Total | 234,109,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 10:10:05, January 19, 2018 CET | From | Social Liberal Party | To | Debating the Income tax proposal of October 4334 |
| Message | The only proposal here was to eliminate the 2% bracket at the price of raising the top 4 brackets, which are already quite high. We think the lowest 2% bracket does not hurt anyone nor damage any family's capacity to make a living, but the suggested increase to the richest could possibly cause a brain drain and reduce the investment in our country, what would for sure damage the poor much more than the 2% they currently pay. Ferdinand Niall Minority Speaker of the House of Representatives |
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Voting
| Vote | Seats | |||||
| yes | Total Seats: 106 | |||||
| no |
Total Seats: 319 | |||||
| abstain |
Total Seats: 0 |
| Random fact: Real-life religions should not be referenced in Particracy. Terra has its own religions, many of which mirror real-life ones. See: http://particracy.wikia.com/wiki/Illustrated_Catalogue_of_Religion |
| Random quote: "There are many men of principle in both parties in America, but there is no party of principle." - Alexis de Tocqueville |