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Bill: Income tax proposal of October 4453
Details
Submitted by[?]: Trade Union and Socialist Coalition
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: May 4455
Description[?]:
| The Trade Union and Socialist Coalition propose to adjust the government's income tax policy to better address the economic situation of the Holy Luthori Empire. |
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 |
| > 200 LPD | 17% | 17,271,000,000 LPD |
| > 2,000 LPD | 29% | 27,815,000,000 LPD |
| > 3,700 LPD | 45% | 41,982,000,000 LPD |
| > 5,650 LPD | 66% | 52,371,000,000 LPD |
| > 7,900 LPD | 79% | 21,197,000,000 LPD |
| > 9,000 LPD | 85% | 25,984,000,000 LPD |
| > 10,500 LPD | 91% | 75,335,000,000 LPD | Total | 261,955,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
| Date | 00:20:42, September 13, 2018 CET | From | Trade Union and Socialist Coalition | To | Debating the Income tax proposal of October 4453 |
| Message | Mr Speaker, Now follows the taxation part of my budget. It keeps taxes rightfully high on high earners, whilst giving a tax cut for the working class. It allows us to pay for our public services as was down in the spending review, whilst also balancing the budget. Aaron West - Secretary of State for Finance and TUSC Leader |
| Date | 04:43:23, September 13, 2018 CET | From | Social Democratic Party | To | Debating the Income tax proposal of October 4453 |
| Message | Mr Speaker, The tax system is in need of reform. However the minister has clearly not thought this through. The taxation of those earning 10500 and above leaves them only with 950 Pounds after tax. Meanwhile those earning 9000 or above will get 1350 pounds after tax. The entire tax system is therefore backwards and the minister has not put any thoughts in to this taxation plan. |
| Date | 16:45:09, September 13, 2018 CET | From | Trade Union and Socialist Coalition | To | Debating the Income tax proposal of October 4453 |
| Message | Mr Speaker, The honourable member doesn't understand how our tax system works. We operate marginal tax rates, meaning that each bracket is taxed as a block. Someone making 10500 a year will pay 17% between 200 and 2000 Pounds, 29% on 2000 to 3700 etc. The figures quoted by the honourable member are simply factually incorrect due to this misunderstanding Aaron West - Secretary of State for Finance and TUSC Leader |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 172 | ||||
| no |
Total Seats: 226 | ||||
| abstain | Total Seats: 47 |
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