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Bill: Lex Samarensis de Vectigalibus
Details
Submitted by[?]: Factio Republicana Socialistica
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: July 4453
Description[?]:
| Samaran Law on Taxes Senators, As we have proposed before, the Republican Party calls for the replacement of all taxes with a land value tax (LVT). Unlike most other taxes, an LVT does not create economic disincentives and does not distort economic activity, while preventing speculation, tax avoidance, and property boom and busts. We thus propose the introduction of the Land Value Tax proposal introduced by our Hon. Consul Iennifer Vinicia Opis in 4420 (http://classic.particracy.net/viewbill.php?billid=574669): For this reason we call for a replacement of most taxes in the Republic with a Land Value Tax, set at 5% of the unimproved value of land. A Land Value Tax has been called by economists the "perfect tax". It is easy to collect and nearly impossible to avoid, it discourages speculation and avoids property booms and busts. And, since it is not applied to improvements made on land, it does not depress economic activity, but rather encourages land owners to bring unused land to use and thus encourages productivity. Replacing most taxes with a Land Value Tax will have almost non-existent distortionary effects, unlike taxes on income or labor. This would also greatly simplify tax collection, reducing administrative costs associated with other taxes. In order to facilitate the introduction of Land Value Taxation, we call for a complete elimination of corporate taxes, a drastic reduction of the income taxes, including the removal of taxes for the lowest income earners and reducing taxes for those earning less than SEN 10,000, and an increase in the income tax for those earning more than SEN 22,000. The Land Value Tax will be supplemented with a levy on other common resources, including a 10% resource tax on oil, gas, and coal extraction, a 7% tax on fishing, and a pollution tax set at SEN 15 per ton of CO2. We also propose that the revenue generated by the Land Value Tax and Commons Levy be used entirely to finance the Universal Basic Income and the Universal Child Benefit policies in the Republic. With the Land Value Tax alone we would be able to provide more than SEN 1,200 to each Selucian adult each year. Quintina Samara Minister of Finance |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 17
Current: 35
Proposed: 0
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 5
Current: 0
Proposed: 50
Article 3
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 |
| > 2,700 SEN | 3% | 4,114,000,000 SEN |
| > 5,200 SEN | 9% | 6,544,000,000 SEN |
| > 7,000 SEN | 16% | 12,987,000,000 SEN |
| > 10,000 SEN | 23% | 11,945,000,000 SEN |
| > 13,000 SEN | 29% | 16,986,000,000 SEN |
| > 19,000 SEN | 36% | 6,392,000,000 SEN |
| > 22,000 SEN | 43% | 6,329,000,000 SEN |
| > 25,000 SEN | 49% | 3,896,000,000 SEN |
| > 27,000 SEN | 57% | 2,876,000,000 SEN |
| > 30,000 SEN | 64% | 3,225,000,000 SEN |
| > 33,000 SEN | 74% | 4,260,000,000 SEN | Total | 79,554,000,000 SEN |
Debate
These messages have been posted to debate on this bill:
| Date | 22:28:02, September 11, 2018 CET | From | Clara Aurora - COSIRA | To | Debating the Lex Samarensis de Vectigalibus |
| Message | Senators, To increase the tax on essential goods up to 50% is simply an scandal, while also reducing the tax applied to corporations. We can clearly see who Factio Republicana governs for, and it is not precisely for the citizens. In Marea-Civis Sinistram will cancel this laws as soon as we regain power. Helios Sigilis Orator of In Marea-Civis Sinistram |
| Date | 09:58:30, September 12, 2018 CET | From | Factio Republicana Socialistica | To | Debating the Lex Samarensis de Vectigalibus |
| Message | OOC: ICly this bill introduces a Land Value Tax valued at 5%, plus a couple of resource and pollution taxes. The game system does not include an LVT, so the closest thing is the sales tax. I estimated that a 50% sales tax might bring around the same amount of revenue as a 5% LVT. |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 393 | ||
| no |
Total Seats: 357 | ||
| abstain | Total Seats: 0 |
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