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Bill: Income tax proposal of April 4409
Details
Submitted by[?]: Socialist Party of Kalistan (SPoK)
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: December 4409
Description[?]:
| Due to a significantly reduced cost of procurement than expected, Kalistan can afford to cut the budget. We have focused primarily on the top tax brackets, who paid a significant amount of the revenues under the old bill, cutting Bracket 6 from 35% to 30%, Bracket 7 from 45% to 40% and Bracket 8 from 64% to 50% All told, we have cut the income tax revenue by just under 25% or 815,939,528,472 Rubles nominally. Most of this cut will be made up from the more than 1 trillion KRB we have built up over these last two years, but we will also be cutting the defense budget which we have 1.5 Trillion built up in surplus for procurement, most of which will be returning to the Republic.. In addition, we will cut the sales tax in Kalistan to 0, as this only supplies 61 billion to the treasury annually, and primarily affects the poor in terms of increased tax burden. This way, all sectors of the Kalistani society will get a tax break. We encourage all to vote for this bill. |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 3
Current: 0
Proposed: 0
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 |
| > 1 KRB | 1% | 1,702,000,000 KRB |
| > 3,000 KRB | 2% | 3,404,000,000 KRB |
| > 6,000 KRB | 4% | 13,618,000,000 KRB |
| > 12,000 KRB | 8% | 45,393,000,000 KRB |
| > 22,000 KRB | 16% | 208,806,000,000 KRB |
| > 45,000 KRB | 30% | 704,102,000,000 KRB |
| > 90,000 KRB | 40% | 795,354,000,000 KRB |
| > 150,000 KRB | 50% | 723,235,000,000 KRB | Total | 2,495,614,000,000 KRB |
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
| Vote | Seats | |||
| yes |
Total Seats: 750 | |||
| no | Total Seats: 0 | |||
| abstain | Total Seats: 0 |
| Random fact: Particracy is set in the fictional world of Terra, which mirrors the real world of today and yet is not quite like it. |
| Random quote: "If God made man they say Sam Colt made them equal." - Unknown |