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Bill: Income tax proposal of December 4370
Details
Submitted by[?]: Luthori Workers' Committee
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: August 4371
Description[?]:
| The Luthori Workers' Committee propose to adjust the government's income tax policy to help lower and middle income families in the Holy Luthori Empire. ---------------------------- This Bill will result in a tax cut for everyone earning under 5,000LPD and shall remove those earning under 1,000LPD from income tax altogether. The loss in revenue to the Treasury is offset by small increases on higher earners. This means the changes are revenue neutral and do not raise any extra monies. The measures proposed shall also cut red tape for businesses and government, reducing the number of tax bands from 13 to 5. Ben Thompson Minister of Finance |
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 LPD | 35% | 29,592,000,000 LPD |
| > 2,500 LPD | 40% | 52,907,000,000 LPD |
| > 5,000 LPD | 50% | 40,315,000,000 LPD |
| > 7,000 LPD | 58% | 31,287,000,000 LPD |
| > 9,000 LPD | 68% | 77,026,000,000 LPD | Total | 231,127,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 349 | ||||
| no | Total Seats: 0 | ||||
| abstain |
Total Seats: 316 |
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