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Bill: LP-172: Income Tax in Accordance with Jienism Act
Details
Submitted by[?]: 莲花党 (Lotus 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: August 4405
Description[?]:
| Mr. Speaker, For too long the government has been subjecting the people to awfully high tax rates. The Republican League's own manifesto says that we must establish an equal and hierarchal society. This progressive taxation structure protects equity and social justice, while also ensuring that those who reach the top through meritocracy and hard work are not punished, as they are now. Further, when the government first introduced its taxation scheme, receipts came in totalling $837b INS. Today, this has fallen to $817b INS, meaning either $20b INS in taxable income has evaded this oppressive taxation regime, or has left Indrala altogether. It's time to right the ship. We must build an economy from the bottom up, in which no one is left behind! My sincere patriotic heart aches to see so many beautiful young people emigrating to places where they see a brighter future for themselves. I encourage all representatives to vote in support of these sane and balance taxation changes. Xi Rushi Leader Lotus Party |
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 |
| > 44,000 INS | 11% | 124,305,000,000 INS |
| > 66,000 INS | 13% | 105,217,000,000 INS |
| > 88,000 INS | 17% | 54,091,000,000 INS |
| > 100,000 INS | 24% | 178,365,000,000 INS |
| > 144,000 INS | 30% | 60,952,000,000 INS |
| > 166,000 INS | 34% | 40,295,000,000 INS |
| > 188,000 INS | 37% | 69,324,000,000 INS |
| > 244,000 INS | 40% | 70,984,000,000 INS | Total | 703,533,000,000 INS |
Debate
These messages have been posted to debate on this bill:
| Date | 06:38:11, June 07, 2018 CET | From | 民主公正党 (Democratic Justice) | To | Debating the LP-172: Income Tax in Accordance with Jienism Act |
| Message | Mr Speaker, I would agree this alteration will help our citizens release their financial burden. Just want to hear some clarifications from the Lotus Party, as our annual expenses are recorded at close to $840b INS, by reducing the tax rates, which is a good progress for Indrala, the revenue of $703b INS would cause the country to go into a deficit. Are we able to find another stream of revenue for the Government before the country runs into debts in the long run? Or will there be other means to reduce expenses? Han Wei Yi Secretary-General |
| Date | 09:00:06, June 07, 2018 CET | From | 莲花党 (Lotus Party) 🌸 | To | Debating the LP-172: Income Tax in Accordance with Jienism Act |
| Message | Mr. Speaker, In response to the Secretary-General, the Lotus Party has the strongest track record for delivering balanced budgets, which we had done since 4333 until the Coalition of Chaos came into power. Despite our record, our policies will likely not be implemented given the partisanship and disorderly nature of the republican government. Nonetheless,oOur suggestions would be to implement a 1% increase in the corporate tax rate, which would increase returns modestly by $2.8b. Combined with luxury tax returns, the government would have a budget of approximately $781b INS. Then, we would reverse runaway government expenditure through targeted austerity and through cancelling costly republican coalition initiatives. During Chen Tianwei's administration of the National Highway Fund, infrastructure spending has increased by a third, with little to no oversight (http://classic.particracy.net/viewbill.php?billid=571074). This, specifically, is something we would suggest examining. This is our plan for a pragmatic future for Indrala's finances. Until then, let's make sure to give Indralans' a much deserved tax break. Xi Rushi Leader Lotus Party |
| Date | 14:08:58, June 07, 2018 CET | From | 民主公正党 (Democratic Justice) | To | Debating the LP-172: Income Tax in Accordance with Jienism Act |
| Message | Mr Speaker, I thank the Leader of Lotus Party for making a very well-thought plan in regards to the future of Indrala's finances. It is a plan that Democratic Justice Party will support in order to lessen the burden of the people while not compromising the reserves of our country. Han Wei Yi Secretary-General |
| Date | 06:52:02, June 08, 2018 CET | From | 匡民會 Renewal 🤚 | To | Debating the LP-172: Income Tax in Accordance with Jienism Act |
| Message | Mr. Speaker, Let us not forget that the Indralan Highway Fund plans were approved unanimouly in this chamber to build a more connected nation. This is the classic flip-flopping manoeuvre of the opposition. The 80% tax rate is also only marginal and applicable to the richest of Indralans, meaning that the middle class has not had a tax raise since the creation of the Coalition government. Let us not forget, Mr. Speaker. Tang Zijing Chief Counselor |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 329 | ||||
| no |
Total Seats: 339 | ||||
| abstain | Total Seats: 0 |
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