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Bill: Tax Cuts for All
Details
Submitted by[?]: New Progressive Party of Pontesi
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: October 4511
Description[?]:
| The New Progressive Party of Pontesi propose to adjust the government's income tax policy to better address the economic situation of the Federal Constitutional Republic of Pontesi. Cutting taxes all across the board. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 30
Current: 15
Proposed: 10
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 20
Current: 10
Proposed: 5
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 30
Current: 25
Proposed: 25
Article 4
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 |
| > 10,000 PON | 5% | 28,821,000,000 PON |
| > 20,000 PON | 10% | 52,065,000,000 PON |
| > 30,000 PON | 15% | 75,916,000,000 PON |
| > 50,000 PON | 28% | 92,713,000,000 PON |
| > 70,000 PON | 35% | 105,827,000,000 PON |
| > 100,000 PON | 45% | 72,460,000,000 PON | Total | 427,802,000,000 PON |
Debate
These messages have been posted to debate on this bill:
| Date | 19:19:52, January 05, 2019 CET | From |  Pontesi Nationalist Party | To | Debating the Tax Cuts for All |
| Message | Mr Speaker, How to destroy an economy... the GDP will fall Mr Speaker just watch! Leader of the Opposition, Lillit Manukyan |
| Date | 19:57:46, January 05, 2019 CET | From | New Progressive Party of Pontesi | To | Debating the Tax Cuts for All |
| Message | Mr. Speaker, Lowering taxes from exorbitant amounts is not "destroying the economy". If anything, this is helping the economy. Lowering the corporate tax rate would encourage investment, lowering income taxes would allow the people to have more money to spend, which would encourage consumption. Lowering taxes too much would hurt the economy, yes, but we made sure to balance the revenue and spending between this and the budget proposal bill so that there would still be a surplus after all is said and done. Lastly, I do not think the party that openly admitted to bribery and embezzlement of the nation's Treasury when they were in power a few decades back should be taken seriously in talks of fiscal responsibility. Zaven Dermovsesian, Pontesi Finance Minister |
| Date | 20:53:03, January 05, 2019 CET | From | New Progressive Party of Pontesi | To | Debating the Tax Cuts for All |
| Message | Mr. Speaker, I would also like to add that yes, the GDP will fall at first due to the decrease in government spending and that the budget bill will pass first, probably at around 2.55-2.6 trillion. However, we believe it will pick back up after this bill passes. Whether it will be as high as before is in question, but it certainly won't fall to recession levels. It should start to balance out to the levels it was at before the Manukyans took over again, which was around 2.7-2.8 trillion. Zaven Dermovsesian, Pontesi Finance Minister |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 290 | ||
| no | Total Seats: 209 | ||
| abstain | Total Seats: 0 |
| Random fact: Cultural Protocol bills must provide a real-life equivalent or short description for the ethnic groups, languages and religions contained in them, such that it would be easy for an unfamiliar player to understand (e.g. "Dundorfian = German"). Where appropriate, they should also provide guidance to players on where to find help with translations and character names. This might include, for example, links to Google Translate, Behind the Name's Random Name Generator and Fantasy Name Generators. |
| Random quote: "You know what's interesting about Washington? It's the kind of place where second-guessing has become second nature." - George W. Bush |