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Bill: Income Tax Amendment Act 4346
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 pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: November 4347
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. |
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 |
| > 700 MCR | 10% | 4,553,000,000 MCR |
| > 1,500 MCR | 15% | 4,268,000,000 MCR |
| > 2,000 MCR | 16% | 4,553,000,000 MCR |
| > 2,500 MCR | 17% | 4,837,000,000 MCR |
| > 3,000 MCR | 20% | 5,691,000,000 MCR |
| > 3,500 MCR | 24% | 6,829,000,000 MCR |
| > 4,000 MCR | 28% | 7,967,000,000 MCR |
| > 4,500 MCR | 32% | 9,015,000,000 MCR |
| > 5,000 MCR | 36% | 9,755,000,000 MCR |
| > 5,500 MCR | 39% | 9,970,000,000 MCR |
| > 6,000 MCR | 42% | 19,216,000,000 MCR |
| > 7,000 MCR | 45% | 8,664,000,000 MCR |
| > 7,500 MCR | 47% | 8,129,000,000 MCR |
| > 8,000 MCR | 49% | 7,776,000,000 MCR |
| > 8,500 MCR | 51% | 7,694,000,000 MCR |
| > 9,000 MCR | 53% | 7,115,000,000 MCR |
| > 9,500 MCR | 54% | 6,734,000,000 MCR |
| > 10,000 MCR | 55% | 46,514,000,000 MCR |
| > 15,000 MCR | 57% | 19,431,000,000 MCR |
| > 20,000 MCR | 59% | 7,124,000,000 MCR |
| > 25,000 MCR | 60% | 5,256,000,000 MCR |
| > 30,000 MCR | 61% | 1,688,000,000 MCR |
| > 35,000 MCR | 62% | 172,000,000 MCR |
| > 35,500 MCR | 65% | 622,000,000 MCR | Total | 213,573,000,000 MCR |
Debate
These messages have been posted to debate on this bill:
| Date | 02:47:49, February 11, 2018 CET | From | Unity Labour Party | To | Debating the Income Tax Amendment Act 4346 |
| Message | This act sees the removal of income tax/tax exemption from all citizens making less than 700 dollars. However, despite such exemption, there is an estimated revenue income increase by 3%. As Minister of Finance, I believe it's time re give low income earners more purchasing power that will asist in making their lives better, raising standard of living. |
| Date | 02:48:44, February 11, 2018 CET | From | Unity Labour Party | To | Debating the Income Tax Amendment Act 4346 |
| Message | Mr Speaker, it is also my belief, that with these measures, we an turn around the budget deficit of 3 million and have a surplus of 1 million plus along with the fact that the Tax reform bill will pass. |
| Date | 02:49:14, February 11, 2018 CET | From | Unity Labour Party | To | Debating the Income Tax Amendment Act 4346 |
| Message | I hereby invite other members to debate this bill |
| Date | 19:34:10, February 11, 2018 CET | From | Wind of Change | To | Debating the Income Tax Amendment Act 4346 |
| Message | We think that a decrease in the VAT would be beneficial for Malivian people's purchaising power, particularly for the poorest but controlling the budget , of course. |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 302 | |||
| no | Total Seats: 0 | |||
| abstain |
Total Seats: 150 |
| Random fact: When forming a cabinet, try to include as few parties as possible, while still obtaining a majority of the seats. |
| Random quote: "The only difference between the Republican and Democratic parties is the velocities with which their knees hit the floor when corporations knock on their door. That's the only difference." - Ralph Nader |