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Bill: Income tax proposal of September 4402
Details
Submitted by[?]: Lodamun 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 not pass any sooner than the deadline.
Voting deadline: October 4403
Description[?]:
| The Lodamun Labour Party propose to adjust the government's income tax policy to better address the economic situation of the 2nd Great Democratic Republic of Lodamun. The changes made make the tax rate higher on the highest incomes and lower on the lowest incomes. This causes the current deficit to dissapear, without laying the burden at those with a low income. The taxrate of the middle-class citizens (>2500 to 4500) hasn't been raised. The corporation tax has also been increased with 10%. Kind regards, Jerome Disselflower, Minister of Finance (LLP) |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 50
Current: 30
Proposed: 60
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 |
| > 300 LOD | 2% | 344,000,000 LOD |
| > 600 LOD | 6% | 2,238,000,000 LOD |
| > 1,250 LOD | 12% | 8,489,000,000 LOD |
| > 2,500 LOD | 15% | 12,358,000,000 LOD |
| > 4,500 LOD | 25% | 7,283,000,000 LOD |
| > 6,000 LOD | 35% | 8,318,000,000 LOD |
| > 8,500 LOD | 45% | 3,276,000,000 LOD |
| > 10,000 LOD | 50% | 1,609,000,000 LOD |
| > 12,000 LOD | 55% | 253,000,000 LOD | Total | 44,168,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 16:45:19, June 02, 2018 CET | From | Grand Nationalist Fraction | To | Debating the Income tax proposal of September 4402 |
| Message | Mr. Speaker, fine by us. Silke Devis LNC Representative |
| Date | 20:37:54, June 02, 2018 CET | From | Liberal Progressives | To | Debating the Income tax proposal of September 4402 |
| Message | Mr. Speaker, This is exactly what the Liberal Progressives have been warning against. Rather than letting the people enjoy the fruits of their labour, the current government would rather raise taxes than deal with the systemic overspending that plagues this country. The Liberal Progressives could never support such a bill and therefore won't support this one. David Kennedy, Shadow Minister of Finance for the Liberal Progressives |
| Date | 21:46:32, June 02, 2018 CET | From | Grand Nationalist Fraction | To | Debating the Income tax proposal of September 4402 |
| Message | Mr. Speaker, the people have chosen for a socialist, nationalist regime. They liked the way it was before the liberals arrived. Silke Devis LNC Representative |
| Date | 01:53:14, June 03, 2018 CET | From | Lodamese Democratic Progressive Party | To | Debating the Income tax proposal of September 4402 |
| Message | Mr. Speaker, This tax proposal has the New Green Party of Lodamun's support. Hazel Keson, NGPoL Chairwoman |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 509 | ||||||
| no | Total Seats: 0 | ||||||
| abstain | Total Seats: 90 |
| Random fact: Information about the population of each country can be found on the Population Information thread: http://forum.particracy.net/viewtopic.php?f=5&t=8663 |
| Random quote: "Conservative, n: A statesman who is enamored of existing evils, as distinguished from the Liberal who wishes to replace them with others." - Ambrose Bierce |