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Bill: Comprehensive Tax Reform Act of 4344
Details
Submitted by[?]: Progressive Conservative 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: February 4345
Description[?]:
| The Progressive Conservative Party proposes to adjust the government's tax policy to better address the economic situation of the Federal Union of Gaduridos. This bill will eliminate the sales tax on essential goods, establish a slightly progressive income tax system, and maintain generally low overall rates of taxation. |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 4
Current: 0
Proposed: 0
Article 2
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 |
| > 23,000 GAD | 7% | 93,303,000,000 GAD |
| > 46,000 GAD | 9% | 229,491,000,000 GAD |
| > 90,000 GAD | 12% | 839,837,000,000 GAD | Total | 1,162,631,000,000 GAD |
Debate
These messages have been posted to debate on this bill:
| Date | 03:30:03, February 06, 2018 CET | From | Progressive Conservative Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | The Progressive Conservatives believe that this tax reform measure helps provide a more level economic playing field for all citizens of Gaduridos. The sales tax is a necessary component of a sound tax system, but it is also a regressive tax that takes a larger percentage of income from low-income tax payers than higher income tax-payers. It must be limited in scope to apply only to luxury purchases rather than the purchase of essential goods like food and basic clothing. Completely eliminating the sales tax on essential goods will help provide much needed tax relief for low-income citizens of Gaduridos but also eliminate a tax that affects citizens of all social classes. The elimination of the essential good sales tax will be offset by the establishment of a slightly progressive tax structure. The proposed rates do not impose a tax increase relative to the current rates except on the income individuals earn that is more than 90,000 GAD. The tax rate on this income only increases 3%. Additionally this tax reform creates a very slight budget shortfall that will be offset in a soon-to-be proposed spending bill through cuts to the salaries of the Head of Government and his staff. |
| Date | 06:01:34, February 06, 2018 CET | From | All Progressive Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | If the finance minister believes the shortfall will be bridged sooner than later then we shall vote in line. APP thought the revenue and expenditure of government werent considered. Hon. Guiying Zheng MP APP Spokesperson |
| Date | 06:28:53, February 06, 2018 CET | From | Progressive Conservative Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | The budget shortfall will be an estimated 2,000,000,000 GAD that will be more than covered by the accompanied spending bill that cuts 4,000,000,000 in funding to the Office of the Head of Government. If APP does not wish to see the cuts to the Office of the Head of Government, we are willing to propose a follow up bill that again adjusts spending. The goal of PCP was to create a revenue neutral tax reform bill, but the numbers did not properly add up without increasing the number of brackets beyond 3. We believed very minor spending cuts were a better way to balance to the budget, especially when reviewing the total government expenditures of other nations around Terra which are generally much less than ours. Kurt Taylor Finance Minister |
| Date | 06:40:12, February 06, 2018 CET | From | All Progressive Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | President RodrÃguez is confident the bills have been proposed in good faith but the numbers just don't reflect. The tax cuts are a must but expenditure isn't bending to the tune. APP recommends that the Honorable minister of finance Kurt Taylor do draft and present another expenditure bill because the proposed just does sit well with the President. Hon. Guiying Zheng APP Spokesperson |
| Date | 06:44:07, February 06, 2018 CET | From | Progressive Conservative Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | At the wishes of APP, we will draft a new expenditure bill as soon as possible that makes these spending cuts elsewhere. Kurt Taylor Finance Minister |
| Date | 06:55:55, February 06, 2018 CET | From | All Progressive Party | To | Debating the Comprehensive Tax Reform Act of 4344 |
| Message | Thank you, let's balance the expenditure. The ministry of science & technology can slash 2,000,000,000 GAD too. Hon. Guiying Zheng APP Spokesperson |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 171 | ||||
| no |
Total Seats: 57 | ||||
| abstain |
Total Seats: 72 |
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