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Bill: Income tax proposal of November 4394
Details
Submitted by[?]: Liberty 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: July 4395
Description[?]:
The Liberty Party propose to adjust the government's income tax policy to better address the economic situation of the Republic of Beluzia. |
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 |
> 20,000 BEL | 5% | 13,492,000,000 BEL | Total | 13,492,000,000 BEL |
Debate
These messages have been posted to debate on this bill:
Date | 01:13:16, May 18, 2018 CET | From | Liberty Party | To | Debating the Income tax proposal of November 4394 |
Message | Vic Carter - Finance Minister Thank you Mr Speaker, I rise this morning to discuss the pressing need for Beluzia to review it's taxation system. At present we have a system which is complex and cumbersome. Liberty seeks to replace that bureaucratic system with a flat tax of 5% for incomes over b20,000 Bel. Present government revenue generated by income tax stands at b13.46 billion. We have sought to reduce this as much as we can however this levy contributes significantly to essential areas such as defense. This new 5% flat tax will generate revenue of b13.47 billion but it will be a much fairer system in terms of proportionality and bracket exposure. It was simply unacceptable that the people who helped build companies that employed people in Beluzia had almost half of their tax taken away from them at source. This oppressive tax policy favoured by previous governments helped destroy enterprise and many sought to invest in more friendly climes. Liberty, along with the Conservatives (BCP) seek to redress that imbalance. Mr Speaker, this is in line with a promise we made to the electorate, in the last and previous elections, to reduce the tax burden on the taxpayer. Already this government have slashed corporation tax to it's lowest level in living memory, if not ever. At 30% we expect to see entreprenurial confidence make a comeback. Indeed we believe it is already happening. This government have also greatly reduced the sales tax burden faced by consumers to more realistic levels. We could go even further but Liberty and the Conservatives have made it abundantly clear Beluzia is open for business again. Now we must ask Congress to go boldly forward and support this legislation. Liberty commends this bill to the Congress for an immediate consideration. |
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Voting
Vote | Seats | ||||
yes |
Total Seats: 363 | ||||
no | Total Seats: 205 | ||||
abstain |
Total Seats: 182 |
Random fact: It is not allowed to call more than 5 elections in 5 game years in a nation. The default sanction for a player persisting in the early election tactic will be a seat reset. |
Random quote: "A return to first principles in a republic is sometimes caused by the simple virtues of one man. His good example has such an influence that the good men strive to imitate him, and the wicked are ashamed to lead a life so contrary to his example." - Niccolo Machiavelli |