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Bill: Income tax proposal of May 4360
Details
Submitted by[?]: Social Democratic Party
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: January 4361
Description[?]:
| The Social Democratic Party propose to adjust the government's income tax policy to better address the economic situation of the Commonwealth 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 |
| > 15,000 HLR | 7% | 40,976,000,000 HLR |
| > 27,500 HLR | 18% | 63,631,000,000 HLR |
| > 40,000 HLR | 33% | 62,043,000,000 HLR |
| > 50,000 HLR | 45% | 75,741,000,000 HLR |
| > 62,500 HLR | 70% | 76,643,000,000 HLR |
| > 75,000 HLR | 80% | 56,508,000,000 HLR |
| > 90,000 HLR | 88% | 28,066,000,000 HLR |
| > 100,000 HLR | 95% | 17,649,000,000 HLR | Total | 421,257,000,000 HLR |
Debate
These messages have been posted to debate on this bill:
| Date | 20:19:30, March 09, 2018 CET | From | Social Democratic Party | To | Debating the Income tax proposal of May 4360 |
| Message | Mr. Speaker This tax plan will generate the revenue needed for the proposed increase in spending. |
| Date | 05:18:12, March 10, 2018 CET | From | National Progress Party | To | Debating the Income tax proposal of May 4360 |
| Message | Mr Speaker, This is complete madness. A 95% taxation on people who make more than 100,000 a years is way too high. That would literally mean that someone who make 100,000 HRL a years would only have 5,000 HLR left after paying their tax. You can't even survive with 5,000 HLR a year! Furthermore, this wil make people with low salary WAY richer than people with high salary. Like someone who make 15,000 HLR a year will have 13,950 HLR left after taxation while, as I said earlier, someone who make 100,000 a years would only have 5,000 HLR left after taxation. Visibily, this bill wasn't very think trought before beign propose. -Caitlin Clarke MP and former minister of Finance |
| Date | 06:18:31, March 10, 2018 CET | From |  Scientian Enclave | To | Debating the Income tax proposal of May 4360 |
| Message | Mr. Speaker, We advise Caitlin Clarke to revise their knowledge of income tax brackets. Someone with $100,000 HLR would not be left with $5,000 HLR. Only income after $100,000 HLR is taxed 95%. People earning more than $100,000 HLR per year would most certainly be left with more money than someone earning $15,000 HLR a year, they would just pay more taxes. In fact, under this proposal if you earned $15,000 HLR a year, you would actually pay nothing in taxes. However if you earned $15,200 a year, then you would be taxed 7% on that extra $200. - Lyn Kopp Ambassador of the Ataraxian Confederation OOC: This is very embarrassing for a former finance minister to not know, but considering that I once had this misconception of income tax brackets, I will consider the mistake to be OOC. |
| Date | 06:36:13, March 10, 2018 CET | From | National Progress Party | To | Debating the Income tax proposal of May 4360 |
| Message | Mr Speaker, I am sorry, I think I wasn't clear in my last intervation. When I was referring to someone who make 100,000 HLR a year I wasn't referring to someone who ACTUALLY make 100,000 HLR a year but more to someone who make a averagely 100,000 HLR a year. Like for example someone who make 102,500 HRL a years would still only have 5125 HLR wich is WAY less than someone who make 15,200 HLR a year who would have 14,136 HLR left after taxation. -Caitlin Clarke MP and former minister of Finance OOC: It's not really a mistake. I know perfectly well how the tax bracket work it's just that my last message was badly phrased. |
| Date | 06:36:56, March 10, 2018 CET | From | National Progress Party | To | Debating the Income tax proposal of May 4360 |
| Message | OOC:*someone who make averagely |
| Date | 19:31:48, March 10, 2018 CET | From | Scientian Enclave | To | Debating the Income tax proposal of May 4360 |
| Message | OOC: That's not how income brackets work. Someone with an income of $15,200 would not be left with $14,136, they would be left with $15,186. Remember, they are only taxed 7% for the income AFTER $15,000. That means that only the $200 is taxed 7%, NOT the entire $15,200. |
| Date | 00:55:27, March 11, 2018 CET | From | Hutori Party | To | Debating the Income tax proposal of May 4360 |
| Message | Mr Speaker, While the honorable member was way off in her understanding of the tax bracket system, I will say that she is right in that these tax brackets are just too high. Someone making 110,000 HLR would have to pay 51,100 HLR in taxes under this system. That is nearly 50% of their annual income. While we agree with the rich paying more, we cannot accept a system that takes nearly half of their hard earned income. Aaron Scheer PC Finance Spokesperson MP for Woodhurst - Airdrie |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 173 | |||
| no |
Total Seats: 281 | |||
| abstain |
Total Seats: 140 |
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