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Bill: Income tax proposal of November 4437
Details
Submitted by[?]: Conservative Democratic Union Lodamun
Status[?]: passed
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: December 4438
Description[?]:
| The Conservative Democratic Union Lodamun propose to adjust the government's income tax policy to better address the economic situation of the 2nd Great Democratic Republic of Lodamun. |
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 |
| > 1,250 LOD | 10% | 8,378,000,000 LOD |
| > 2,750 LOD | 15% | 9,352,000,000 LOD |
| > 4,250 LOD | 20% | 6,463,000,000 LOD |
| > 5,750 LOD | 35% | 12,226,000,000 LOD |
| > 10,000 LOD | 55% | 2,024,000,000 LOD | Total | 38,443,000,000 LOD |
Debate
These messages have been posted to debate on this bill:
| Date | 03:38:27, August 12, 2018 CET | From | Lodamese Democratic Progressive Party | To | Debating the Income tax proposal of November 4437 |
| Message | Mr. Speaker, With this tax proposal, the richest of income earners would see a tax cut while the lowest income earners see no tax relief. We cannot support this change to the tax code. Trevor Takon, NGPoL Chairman |
| Date | 21:17:41, August 12, 2018 CET | From | Conservative Democratic Union Lodamun | To | Debating the Income tax proposal of November 4437 |
| Message | Mr Speaker To clarify the position of the CDUL: we still favor a progressive tax system and would support tax cuts being distrubuted fairly among the brackets; however, this change is to create more fairness in general. Firstly the previous system would have a doubling of tax rate with an increase from 4250 LOD to 5000 LOD which we believe to be unfair. And we find a 60% tax rate to be to much in any case. Eventhough, I expect the NGPoL to vote against this proposal, it is important to clarify that the CDUL does not want to move away from a progressive tax system in which an increase in income would result to a (close to) equal percentage wise increase in tax to be paid. Also this proposal is a CDUL proposal and does not neccesarily reflect the position of the Minister of Finance or the government. Karolina Kurz CDUL MP on Finance |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 366 | ||||
| no | Total Seats: 0 | ||||
| abstain |
Total Seats: 233 |
| Random fact: Terra, the fictional world in which Particracy is set, consists of 8 continents: Artania, Dovani, Keris, Makon, Majatra, Seleya, Temania and Vascania. |
| Random quote: "I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." - Thomas Jefferson |