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Bill: Revised Income tax proposal of December 4427
Details
Submitted by[?]: Ultrackian Communist 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 4428
Description[?]:
| The Ultrackian Socialist party of Hutori propose to adjust the government's income tax policy to better address the economic situation of the Commonwealth of Hutori. |
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 HLR | 2% | 7,978,000,000 HLR |
| > 30,000 HLR | 16% | 43,059,000,000 HLR |
| > 40,000 HLR | 33% | 62,202,000,000 HLR |
| > 50,000 HLR | 43% | 60,308,000,000 HLR |
| > 60,000 HLR | 60% | 32,448,000,000 HLR |
| > 65,000 HLR | 65% | 31,223,000,000 HLR |
| > 70,000 HLR | 69% | 24,871,000,000 HLR |
| > 75,000 HLR | 72% | 87,427,000,000 HLR | Total | 349,516,000,000 HLR |
Debate
These messages have been posted to debate on this bill:
| Date | 05:57:23, July 23, 2018 CET | From | New Liberal Party of Hutori | To | Debating the Revised Income tax proposal of December 4427 |
| Message | Mr. Speaker, We are pleased the USPH took into account the comments of the opposition as well as the concerns of our coalition partners. We will support this bill as it cuts taxes for the poorest Hutorians without a substantial addition of burden for the rich. Jim O'Neill MP for Acton Gardens Minister for Education and Culture Deputy Leader of the New Liberal Party |
| Date | 20:30:30, July 23, 2018 CET | From | Hutori Party | To | Debating the Revised Income tax proposal of December 4427 |
| Message | Mr Speaker, On the surface, this new proposal actually impresses me. The USPH have taken into account fiscal responsibility and managed to give a 2 percent tax cut to the lowest earning Hutorians while not reducing overall income tax revenue. However, I don't see the point of creating another tax bracket, only 5,000 HLR above the current highest bracket. With our current budget surplus of over 11 billion HLR, it would be safe to instead take a reduction in our overall income tax revenue. I propose that instead we give a 1% cut to the lowest bracket, and keep the current top bracket at only 70,000 HLR, while increasing the tax on that bracket to 69%. This will result in a loss of approximately 2.5 billion HLR in revenue, but will keep our surplus at approximately 8 billion. Since Hutori has had a large surplus for a long time, shrinking the surplus by a small amount in order to give Hutori's lowest earners a tax break is possible. This proposal also doesn't give to large of a tax increase to the higher earners who are creating jobs. With all that being said, if the Honorable Minister of Finance and the New Liberal's won't support our proposal, we will vote in favour of this proposal. |
| Date | 20:31:36, July 23, 2018 CET | From | Hutori Party | To | Debating the Revised Income tax proposal of December 4427 |
| Message | Dylan Jourdain MP for Fairview Prosperity Government House Leader Chairman of the Conservative Caucus |
| Date | 06:28:11, July 24, 2018 CET | From | New Liberal Party of Hutori | To | Debating the Revised Income tax proposal of December 4427 |
| Message | Mr. Speaker, I thank the House Leader of the Royalists for his kind and thoughtful comments. I will caucus with my party and my friends in the USPH and return to the leader with an answer. Jim O'Neill MP for Acton Gardens Minister for Education and Culture Deputy Leader of the New Liberal Party |
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Voting
| Vote | Seats | |||||
| yes | Total Seats: 165 | |||||
| no |
Total Seats: 37 | |||||
| abstain |
Total Seats: 203 |
| Random fact: Selucia is Particracy's modern take on Ancient Rome, located on the continent of Majatra. |
| Random quote: "Our liberty depends on the freedom of the press, and that cannot be limited without being lost." - Thomas Jefferson |